Ukraine: Hand Tools Market 2024

Hand Tools Market Size in Ukraine

In 2021, the Ukrainian hand tools market increased by 16% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +153.7% against 2015 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Hand Tools Production in Ukraine

In value terms, hand tools production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports from Ukraine

In 2021, overseas shipments of hand tools increased by 10% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 25%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hand tools exports skyrocketed to $X in 2021. Overall, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.3% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Russia (X tons) and Belarus (X tons) were the main destinations of hand tools exports from Ukraine, with a combined 66% share of total exports. These countries were followed by Moldova, Romania, the United States, Germany, Lithuania, Kazakhstan and Uzbekistan, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +19.0%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Moldova ($X) were the largest markets for hand tools exported from Ukraine worldwide, with a combined 51% share of total exports. These countries were followed by Germany, Belarus, the United States, Romania, Lithuania, Kazakhstan and Uzbekistan, which together accounted for a further 23%.

Among the main countries of destination, the United States, with a CAGR of +16.3%, saw 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, increasing by 26% against the previous year. In general, the export price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 41%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belarus ($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 Uzbekistan (+30.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Ukraine

In 2021, purchases abroad of hand tools increased by 8.6% to X tons, rising for the sixth year in a row after two years of decline. In general, imports saw noticeable growth. The most prominent rate of growth was recorded in 2016 when imports increased by 40%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, hand tools imports soared to $X in 2021. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 36% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest hand tools supplier to Ukraine, accounting for a 71% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. Poland (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.0% per year) and Poland (-2.2% per year).

In value terms, China ($X) constituted the largest supplier of hand tools to Ukraine, comprising 47% of total imports. The second position in the ranking was held by Switzerland ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+2.5% per year) and Taiwan (Chinese) (+8.9% per year).

Import Prices by Country

The average hand tools import price stood at $X per ton in 2021, rising by 8.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2015 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained 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 Switzerland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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