Malaysia: Hand Tools Market 2025

Hand Tools Market Size in Malaysia

In 2021, the Malaysian hand tools market increased by 19% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +83.7% against 2016 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Hand Tools Exports

Exports from Malaysia

In 2021, hand tools exports from Malaysia declined modestly to X tons, with a decrease of -3.6% against the previous year's figure. In general, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, hand tools exports shrank modestly to $X in 2021. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 19%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Papua New Guinea (X tons), Brunei Darussalam (X tons) and Indonesia (X tons) were the main destinations of hand tools exports from Malaysia, with a combined 49% share of total exports. Singapore, Maldives, Thailand, Vietnam, the United States, China and Japan lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Maldives (with a CAGR of +34.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hand tools exported from Malaysia were Singapore ($X), Indonesia ($X) and Papua New Guinea ($X), together comprising 47% of total exports. These countries were followed by Thailand, Brunei Darussalam, the United States, Maldives, Vietnam, Japan and China, which together accounted for a further 29%.

Maldives, with a CAGR of +22.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hand tools export price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 14%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Malaysia

Hand tools imports into Malaysia expanded sharply to X tons in 2021, growing by 15% against 2020. In general, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.7% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, hand tools imports surged to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest hand tools supplier to Malaysia, with a 86% share of total imports. It was followed by Germany (X tons), with a 1.8% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.9% per year) and Taiwan (Chinese) (-9.8% per year).

In value terms, China ($X) constituted the largest supplier of hand tools to Malaysia, comprising 56% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.7% share of total imports. It was followed by Singapore, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.2% per year) and Singapore (+1.5% per year).

Import Prices by Country

In 2021, the average hand tools import price amounted to $X per ton, picking up by 3.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 64%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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