Asia: Household Hand Tools Market 2024

Household Hand Tools Market Size in Asia

In 2023, the Asian household hand tools market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Household Hand Tools Production in Asia

In value terms, household hand tools production expanded modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Household Hand Tools Exports

Exports in Asia

In 2023, approx. X tons of household hand tools were exported in Asia; increasing by X% compared with the year before. Total exports indicated noticeable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, household hand tools exports soared to $X in 2023. Over the period under review, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the immediate term.

Exports by Country

The biggest shipments were from China (X tons), together resulting at X% of total export.

China was also the fastest-growing in terms of the household hand tools exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of China increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest household hand tools supplier in Asia.

From 2012 to 2023, the average annual growth rate of value in China totaled X%.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2023 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Household Hand Tools Imports

Imports in Asia

In 2023, imports of household hand tools in Asia skyrocketed to X tons, rising by X% against 2022 figures. Total imports indicated a mild expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, household hand tools imports reduced to $X in 2023. In general, imports, however, showed a slight slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Malaysia (X tons) was the main importer of household hand tools, creating X% of total imports. It was distantly followed by India (X tons), the United Arab Emirates (X tons), Turkey (X tons), Japan (X tons) and Iraq (X tons), together committing a X% share of total imports. The following importers - South Korea (X tons), Thailand (X tons), Kazakhstan (X tons), Hong Kong SAR (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and Uzbekistan (X tons) - together made up X% of total imports.

Malaysia was also the fastest-growing in terms of the household hand tools imports, with a CAGR of X% from 2012 to 2023. At the same time, Uzbekistan (X%), India (X%), South Korea (X%), Thailand (X%), Kazakhstan (X%), Taiwan (Chinese) (X%), Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Indonesia, Iraq and Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia, India, South Korea, Thailand and Uzbekistan increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest household hand tools importing markets in Asia were Japan ($X), the United Arab Emirates ($X) and South Korea ($X), together comprising X% of total imports. Hong Kong SAR, Malaysia, Turkey, Iraq, Kazakhstan, Thailand, India, Taiwan (Chinese), Indonesia and Uzbekistan lagged somewhat behind, together accounting for a further X%.

Uzbekistan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform