United Kingdom: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in the UK

In 2021, the UK market for pneumatic or hydraulic hand tools increased by 29% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Pneumatic or hydraulic hand tool consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Pneumatic Or Hydraulic Hand Tools in the UK

In value terms, pneumatic or hydraulic hand tool production rose slightly to $X in 2021 estimated in export price. Overall, production recorded a mild setback. The pace of growth was the most pronounced in 2018 with an increase of 56% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from the UK

In 2021, overseas shipments of pneumatic or hydraulic hand tools decreased by -12.2% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 18%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool exports soared to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Ireland (X tons) was the main destination for pneumatic or hydraulic hand tool exports from the UK, with a 22% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Ireland exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Belgium (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.7% per year) and Belgium (+28.4% per year).

In value terms, Belgium ($X), the Netherlands ($X) and Ireland ($X) appeared to be the largest markets for pneumatic or hydraulic hand tool exported from the UK worldwide, with a combined 30% share of total exports. Germany, China, the United States, the United Arab Emirates, France, Bulgaria, Poland and Italy lagged somewhat behind, together accounting for a further 39%.

Bulgaria, with a CAGR of +44.4%, 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

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, jumping by 33% against the previous year. Overall, the export price, however, saw a noticeable reduction. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Poland ($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 United Arab Emirates (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into the UK

In 2021, pneumatic or hydraulic hand tool imports into the UK expanded remarkably to X tons, picking up by 10% on the previous year's figure. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

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 +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest pneumatic or hydraulic hand tool supplier to the UK, accounting for a 67% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The United States (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.5% per year) and the United States (-9.5% per year).

In value terms, the largest pneumatic or hydraulic hand tool suppliers to the UK were China ($X), Germany ($X) and the United States ($X), with a combined 68% share of total imports.

In terms of the main suppliers, China, with a CAGR of +12.5%, 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

In 2021, the average import price for pneumatic or hydraulic hand tools amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2014 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 France ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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