Singapore: Hand Tools Market 2025

Hand Tools Market Size in Singapore

In 2021, the Singaporean hand tools market decreased by -43.6% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a abrupt descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Hand Tools Production in Singapore

In value terms, hand tools production fell significantly to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt setback. Hand tools production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Hand Tools Exports

Exports from Singapore

In 2021, after six years of decline, there was significant growth in shipments abroad of hand tools, when their volume increased by 36% to X tons. In general, exports, however, recorded a noticeable contraction. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, hand tools exports expanded notably to $X in 2021. Overall, exports, however, saw a perceptible shrinkage. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main destinations of hand tools exports from Singapore, together comprising 48% of total exports. These countries were followed by Brunei Darussalam, Taiwan (Chinese), the United States, Hong Kong SAR, China, Thailand, Cambodia, Vietnam, India and Australia, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +23.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the Philippines ($X) and Malaysia ($X) constituted the largest markets for hand tools exported from Singapore worldwide, with a combined 47% share of total exports. Brunei Darussalam, Taiwan (Chinese), Thailand, Cambodia, China, the United States, Hong Kong SAR, Vietnam, India and Australia lagged somewhat behind, together accounting for a further 41%.

Among the main countries of destination, Cambodia, with a CAGR of +18.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hand tools export price amounted to $X per ton, dropping by -18.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 23%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to the United States ($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 Thailand (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Singapore

In 2021, overseas purchases of hand tools increased by 4.4% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 7.8%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hand tools imports rose notably to $X in 2021. Over the period under review, imports, however, recorded a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Switzerland (X tons) and the United States (X tons) were the main suppliers of hand tools imports to Singapore, with a combined 63% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +2.9%), while imports for the other leaders experienced a decline.

In value terms, the largest hand tools suppliers to Singapore were China ($X), Switzerland ($X) and the United States ($X), with a combined 63% share of total imports.

Among the main suppliers, Switzerland, with a CAGR of +4.0%, saw the highest growth rate of 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

The average hand tools import price stood at $X per ton in 2021, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2020 when the average import price increased by 6.2%. The import price peaked at $X per ton in 2017; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Switzerland ($X per ton) and Germany ($X per ton), while the price for the United States ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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