Scandinavia: Hand Tools Market 2025

Hand Tools Market Size in Scandinavia

The Scandinavia hand tools market expanded to $X in 2021, growing by 4.1% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in years to come.

Hand Tools Production in Scandinavia

In value terms, hand tools production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, showed a noticeable contraction. The growth pace was the most rapid in 2017 when the production volume increased by 11%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports in Scandinavia

In 2021, overseas shipments of hand tools were finally on the rise to reach X tons after six years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hand tools exports surged to $X in 2021. In general, exports saw a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the main exporter of hand tools in Scandinavia, with the volume of exports accounting for X tons, which was approx. 62% of total exports in 2021. Denmark (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Finland (15%). Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the hand tools exports, with a CAGR of +1.3% from 2012 to 2021. Denmark (-1.4%), Norway (-2.8%) and Finland (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden increased by +7.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest hand tools supplier in Scandinavia, comprising 65% of total exports. The second position in the ranking was taken by Denmark ($X), with a 19% share of total exports. It was followed by Finland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (+0.7% per year) and Finland (-3.0% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, leveling off at the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7.2% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.7%), while the other leaders experienced more modest paces of growth.

Hand Tools Imports

Imports in Scandinavia

In 2021, purchases abroad of hand tools was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw slight growth. As a result, imports attained the peak 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 +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the key importer of hand tools in Scandinavia, with the volume of imports recording X tons, which was near 40% of total imports in 2021. Denmark (X tons) ranks second in terms of the total imports with a 24% share, followed by Finland (19%) and Norway (15%). Iceland (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +4.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, together comprising 81% of total imports. These countries were followed by Finland and Iceland, which together accounted for a further 19%.

Among the main importing countries, Iceland, with a CAGR of +3.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, picking up by 6.8% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Sweden ($X per ton), while Finland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform