U.S.: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in the U.S.

The U.S. market for pneumatic or hydraulic hand tools surged to $X in 2021, jumping by 25% against the previous year. Over the period under review, consumption, however, continues to indicate a slight descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in the U.S.

In value terms, pneumatic or hydraulic hand tool production expanded modestly to $X in 2021. Overall, production, however, continues to indicate a slight contraction. The growth pace was the most rapid in 2018 when the production volume increased by 51% against the previous year. Pneumatic or hydraulic hand tool production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from the U.S.

In 2021, approx. X tons of pneumatic or hydraulic hand tools were exported from the United States; approximately equating the previous year. Over the period under review, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2014 with an increase of 4.7%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool exports rose notably to $X in 2021. In general, exports saw a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for pneumatic or hydraulic hand tool exports from the United States, with a 42% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Canada exceeded the volume sent to the second major destination, Australia (X tons), fourfold. The third position in this ranking was held by Mexico (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to -8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-4.7% per year) and Mexico (-14.3% per year).

In value terms, Canada ($X) remains the key foreign market for pneumatic or hydraulic hand tools exports from the United States, comprising 38% of total exports. The second position in the ranking was taken by Mexico ($X), with a 9.6% share of total exports. It was followed by Australia, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.3% per year) and Australia (-3.0% per year).

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, rising by 10% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pneumatic or hydraulic hand tool export price increased by +87.5% against 2014 indices. The growth pace was the most rapid in 2020 when the average export price increased by 42%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Sweden ($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 France (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into the U.S.

In 2021, purchases abroad of pneumatic or hydraulic hand tools increased by 15% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% 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 +46.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 27%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main suppliers of pneumatic or hydraulic hand tool imports to the United States, with a combined 80% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +157.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pneumatic or hydraulic hand tool suppliers to the United States were Taiwan (Chinese) ($X), China ($X) and Germany ($X), with a combined 63% share of total imports. Vietnam, Sweden, Mexico and Japan lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Vietnam, with a CAGR of +140.1%, recorded 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 import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, rising by 4.7% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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