Household Hand Tools Market

The global household hand tools market is expected to see continued growth in both volume and value over the next eight years, with a forecasted CAGR of +2.6% in volume and +4.2% in value from 2022 to 2030. China remains the largest consumer of household hand tools, while China, India, and Japan are the countries with the highest market values. Production and import trends show fluctuations over the years, with China leading in production volume and value of exports. The market is characterized by differing consumption patterns among countries, with Italy having the highest per capita consumption rate. Overall, the global market for household hand tools is projected to see moderate growth in both consumption and trade.

Market Forecast

Driven by increasing demand for household hand tools worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 450K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Household Hand Tools

In 2022, approx. 368K tons of household hand tools were consumed worldwide; waning by -4% on the year before. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 417K tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global household hand tools market revenue contracted slightly to $3.6B in 2022, which is down by -2.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $3.8B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

China (76K tons) remains the largest household hand tools consuming country worldwide, accounting for 21% of total volume. Moreover, household hand tools consumption in China exceeded the figures recorded by the second-largest consumer, India (31K tons), twofold. The United States (30K tons) ranked third in terms of total consumption with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to -1.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+2.5% per year) and the United States (+1.8% per year).

In value terms, China ($539M), Japan ($487M) and India ($288M) were the countries with the highest levels of market value in 2022, with a combined 37% share of the global market. Brazil, the United States, Indonesia, Mexico, Italy, Germany, Russia, Spain, Pakistan and the UK lagged somewhat behind, together comprising a further 38%.

Spain, with a CAGR of +13.9%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of household hand tools per capita consumption was registered in Italy (418 kg per 1000 persons), followed by Spain (179 kg per 1000 persons), the UK (137 kg per 1000 persons) and Germany (107 kg per 1000 persons), while the world average per capita consumption of household hand tools was estimated at 46 kg per 1000 persons.

In Italy, household hand tools per capita consumption contracted by an average annual rate of -1.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Spain (+8.7% per year) and the UK (-0.8% per year).

Production

World Production of Household Hand Tools

After two years of decline, production of household hand tools increased by 0.3% to 384K tons in 2022. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, global production attained the peak volume at 446K tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, household hand tools production stood at $3.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 21%. Over the period under review, global production reached the peak level at $4B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of household hand tools production was China (211K tons), comprising approx. 55% of total volume. Moreover, household hand tools production in China exceeded the figures recorded by the second-largest producer, India (33K tons), sixfold. The third position in this ranking was held by Italy (23K tons), with a 5.9% share.

In China, household hand tools production increased at an average annual rate of +1.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+1.5% per year) and Italy (-1.7% per year).

Imports

World Imports of Household Hand Tools

In 2022, overseas purchases of household hand tools decreased by -11.9% to 161K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 21% against the previous year. Global imports peaked at 183K tons in 2021, and then reduced in the following year.

In value terms, household hand tools imports declined modestly to $1.4B in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 24%. As a result, imports reached the peak of $1.4B, and then dropped in the following year.

Imports By Country

In 2022, the United States (31K tons), distantly followed by Germany (11K tons) and Spain (7.5K tons) represented the key importers of household hand tools, together constituting 31% of total imports. France (5.3K tons), El Salvador (5.1K tons), the Netherlands (4.8K tons), India (4.6K tons), Russia (4.4K tons), Brazil (4.2K tons), the UK (3.9K tons), Poland (3.6K tons), Malaysia (3.5K tons) and Belgium (3.4K tons) held a minor share of total imports.

Imports into the United States increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, El Salvador (+38.5%), Malaysia (+36.1%), India (+26.6%), Poland (+11.6%), Brazil (+5.3%), Spain (+4.6%), Belgium (+4.4%), the Netherlands (+3.2%) and Germany (+2.0%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in the world, with a CAGR of +38.5% from 2012-2022. France and Russia experienced a relatively flat trend pattern. By contrast, the UK (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of El Salvador, the United States, India and Malaysia increased by +3, +2.6, +2.5 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($224M), Germany ($147M) and Spain ($88M) were the countries with the highest levels of imports in 2022, together comprising 34% of global imports. Poland, France, the Netherlands, Belgium, the UK, Russia, El Salvador, Brazil, Malaysia and India lagged somewhat behind, together accounting for a further 24%.

Among the main importing countries, El Salvador, with a CAGR of +44.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average household hand tools import price amounted to $8,461 per ton, surging by 9.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $9,263 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($17,756 per ton), while India ($768 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Household Hand Tools

In 2022, the amount of household hand tools exported worldwide reduced slightly to 178K tons, waning by -2.7% compared with the previous year's figure. In general, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +178.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 96%. The global exports peaked at 183K tons in 2021, and then contracted in the following year.

In value terms, household hand tools exports reduced to $1.8B in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.5% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by 32%. As a result, the exports reached the peak of $1.9B, and then declined modestly in the following year.

Exports By Country

China dominates exports structure, resulting at 136K tons, which was near 76% of total exports in 2022. India (6.5K tons), the Netherlands (5.8K tons), Germany (5K tons), the United States (3K tons) and Belgium (2.8K tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to household hand tools exports from China stood at +4.2%. At the same time, the Netherlands (+12.7%), Belgium (+6.5%), India (+3.8%) and Germany (+3.0%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.7% from 2012-2022. The United States experienced a relatively flat trend pattern. China (+9.9 p.p.) and the Netherlands (+2 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.4B) remains the largest household hand tools supplier worldwide, comprising 73% of global exports. The second position in the ranking was held by Germany ($102M), with a 5.5% share of global exports. It was followed by the United States, with a 2.5% share.

In China, household hand tools exports expanded at an average annual rate of +10.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+4.3% per year) and the United States (+0.7% per year).

Export Prices By Country

The average household hand tools export price stood at $10,378 per ton in 2022, flattening at the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, household hand tools export price increased by +18.5% against 2017 indices. The growth pace was the most rapid in 2016 when the average export price increased by 72% against the previous year. As a result, the export price attained the peak level of $16,079 per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($20,341 per ton), while India ($522 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform