Sweden: Hand Tools Market 2024

Hand Tools Market Size in Sweden

In 2021, after two years of growth, there was significant decline in the Swedish hand tools market, when its value decreased by -24.8% to $X. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted notably in the following year.

Hand Tools Production in Sweden

In value terms, hand tools production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 with an increase of 12%. Hand tools production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Hand Tools Exports

Exports from Sweden

In 2021, after two years of decline, there was significant growth in overseas shipments of hand tools, when their volume increased by 43% to X tons. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hand tools exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Norway (X tons) and Denmark (X tons) were the main destinations of hand tools exports from Sweden, together accounting for 46% of total exports. These countries were followed by Finland, the United States, Germany, Poland, France, Estonia, Belgium, China, the UK and Singapore, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +19.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hand tools exported from Sweden were Norway ($X), the Netherlands ($X) and the United States ($X), with a combined 42% share of total exports. These countries were followed by Denmark, Germany, Finland, Belgium, Poland, France, the UK, China, Estonia and Singapore, which together accounted for a further 37%.

Belgium, with a CAGR of +14.7%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average hand tools export price amounted to $X per ton, waning by -4.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 14%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Estonia ($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 the UK (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Sweden

In 2021, approx. X tons of hand tools were imported into Sweden; picking up by 11% against the previous year. Overall, imports saw a modest increase. 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. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of hand tools imports to Sweden, together comprising 55% of total imports. These countries were followed by the Netherlands, Belgium, Finland, Denmark, India, Poland, Estonia, the United States, France and Norway, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hand tools suppliers to Sweden were Germany ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 52% of total imports. These countries were followed by the Netherlands, Belgium, Denmark, the United States, Finland, Poland, Estonia, India, France and Norway, which together accounted for a further 33%.

India, with a CAGR of +13.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hand tools import price amounted to $X per ton, rising by 4.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 6.7% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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