China: Hand Tools Market 2024

Hand Tools Market Size in China

The Chinese hand tools market rose markedly to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Hand Tools Production in China

In value terms, hand tools production amounted to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Hand tools production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Hand Tools Exports

Exports from China

In 2022, after six years of growth, there was decline in overseas shipments of hand tools, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, hand tools exports rose notably to $X in 2022. In general, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for hand tools exports from China, accounting for a X% share of total exports. Moreover, hand tools exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for hand tools exports from China, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Russia (X% per year).

Export Prices by Country

The average hand tools export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and India ($X per ton), while the average price for exports to Indonesia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into China

After two years of growth, supplies from abroad of hand tools decreased by X% to X tons in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, hand tools imports declined to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest hand tools supplier to China, with a X% share of total imports. Moreover, hand tools imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

In value terms, Taiwan (Chinese) ($X), Japan ($X) and Germany ($X) constituted the largest hand tools suppliers to China, together comprising X% of total imports. The United States, Switzerland, Thailand, Vietnam and Italy lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2022, the average hand tools import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, recorded a mild decrease. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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