Northern America: Market for Hand-Operated Drilling, Threading or Tapping Tools 2025

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Northern America

The North American market for hand-operated drilling, threading or tapping tools reached $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, posted a buoyant expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Northern America

In value terms, production of hand-operated drilling, threading or tapping tools shrank slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 40%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports in Northern America

In 2022, exports of hand-operated drilling, threading or tapping tools in Northern America dropped to X tons, which is down by -13.6% on the previous year's figure. Over the period under review, exports continue to indicate a deep slump. The growth pace was the most rapid in 2021 with an increase of 38%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of hand-operated drilling, threading or tapping tools skyrocketed to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United States (X tons) was the largest exporter of hand-operated drilling, threading or tapping tools, making up 85% of total exports. It was distantly followed by Canada (X tons), committing a 15% share of total exports.

Exports from the United States decreased at an average annual rate of -9.3% from 2012 to 2022. Canada (-5.6%) illustrated a downward trend over the same period. Canada (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -4.5% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest hand-operated drilling, threading or tapping tool supplier in Northern America, comprising 93% of total exports. The second position in the ranking was taken by Canada ($X), with a 7.1% share of total exports.

In the United States, exports of hand-operated drilling, threading or tapping tools remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, rising by 34% against the previous year. Over the period under review, the export price posted a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.4%).

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports in Northern America

Imports of hand-operated drilling, threading or tapping tools rose notably to X tons in 2022, picking up by 7.1% on 2021 figures. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 21%. Over the period under review, imports of attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of hand-operated drilling, threading or tapping tools expanded rapidly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.6% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 37% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main importer of hand-operated drilling, threading or tapping tools, comprising 73% of total imports. Canada (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Greenland (5.1%).

From 2012 to 2022, average annual rates of growth with regard to hand-operated drilling, threading or tapping tool imports into the United States stood at +1.8%. At the same time, Greenland (+16.6%) displayed positive paces of growth. Moreover, Greenland emerged as the fastest-growing importer imported in Northern America, with a CAGR of +16.6% from 2012-2022. Canada experienced a relatively flat trend pattern. Greenland (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -4.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported hand-operated drilling, threading or tapping tools in Northern America, comprising 74% of total imports. The second position in the ranking was taken by Canada ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+0.5% per year) and Greenland (+13.8% per year).

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, surging by 1.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Greenland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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