European Union's Hand Tools Market to Grow at 0.6% CAGR, Reaching $6.7B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: EU - Hand Tools - Market Analysis, Forecast, Size, Trends And Insights.

The European Union hand tools market is expected to see a steady increase in demand, with market performance forecasted to expand at a CAGR of +0.6% in volume and +1.7% in value from 2024 to 2035. By the end of 2035, the market volume is projected to reach 658K tons, while the market value is expected to reach $6.7B in nominal prices.

Driven by increasing demand for hand tools in the European Union, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 658K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $6.7B (in nominal wholesale prices) by the end of 2035.

Hand tools consumption soared to 617K tons in 2024, jumping by 33% on 2023. The total consumption indicated a noticeable increase from 2013 to 2024: its volume increased at an average annual rate of +3.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -11.3% against 2022 indices. The volume of consumption peaked at 696K tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The revenue of the hand tools market in the European Union soared to $5.5B in 2024, surging by 43% 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). The total consumption indicated temperate growth from 2013 to 2024: its value increased at an average annual rate of +2.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -18.5% against 2022 indices. The level of consumption peaked at $6.8B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The countries with the highest volumes of consumption in 2024 were Germany (127K tons), France (72K tons) and Italy (68K tons), together accounting for 43% of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Italy (with a CAGR of +8.3%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest hand tools markets in the European Union were Germany ($1.3B), France ($768M) and Italy ($571M), with a combined 48% share of the total market. The Netherlands, Spain, Belgium, Poland, Romania, Austria and the Czech Republic lagged somewhat behind, together accounting for a further 36%.

Spain, with a CAGR of +8.3%, 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 leaders experienced more modest paces of growth.

The countries with the highest levels of hand tools per capita consumption in 2024 were Belgium (4.3 kg per person), the Netherlands (3 kg per person) and Germany (1.5 kg per person).

From 2013 to 2024, the biggest increases were recorded for Italy (with a CAGR of +8.5%), while consumption for the other leaders experienced more modest paces of growth.

Hand tools production skyrocketed to 216K tons in 2024, with an increase of 28% compared with the previous year. Over the period under review, production, however, showed a relatively flat trend pattern. The volume of production peaked at 297K tons in 2018; however, from 2019 to 2024, production remained at a lower figure.

In value terms, hand tools production skyrocketed to $3.6B in 2024 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The level of production peaked at $5.2B in 2018; however, from 2019 to 2024, production failed to regain momentum.

The countries with the highest volumes of production in 2024 were Germany (75K tons), Italy (49K tons) and Poland (22K tons), with a combined 67% share of total production.

From 2013 to 2024, the biggest increases were recorded for Poland (with a CAGR of +3.6%), while production for the other leaders experienced more modest paces of growth.

In 2024, overseas purchases of hand tools decreased by -0.5% to 750K tons, falling for the second year in a row after seven years of growth. Total imports indicated a notable expansion from 2013 to 2024: its volume increased at an average annual rate of +3.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -19.5% against 2022 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum at 932K tons in 2022; however, from 2023 to 2024, imports failed to regain momentum.

In value terms, hand tools imports contracted to $7.6B in 2024. Total imports indicated measured growth from 2013 to 2024: its value increased at an average annual rate of +2.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -17.1% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports reached the peak of $9.2B. From 2022 to 2024, the growth of imports failed to regain momentum.

Germany (120K tons), the Netherlands (104K tons), Belgium (86K tons), France (78K tons), Spain (66K tons), Poland (60K tons) and Italy (41K tons) represented roughly 74% of total imports in 2024. The following importers - Greece (25K tons), the Czech Republic (23K tons) and Austria (21K tons) - each reached a 9.2% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Greece (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($1.6B), France ($975M) and the Netherlands ($971M) appeared to be the countries with the highest levels of imports in 2024, together accounting for 47% of total imports. Spain, Belgium, Poland, Italy, Austria, the Czech Republic and Greece lagged somewhat behind, together accounting for a further 35%.

In terms of the main importing countries, Greece, with a CAGR of +10.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools was the key type of hand tools in the European Union, with the volume of imports accounting for 330K tons, which was near 44% of total imports in 2024. It was distantly followed by hand-operated spanners and wrenches (127K tons), agriculture or forestry hand tools (90K tons), sets of two or more tools (79K tons), hand saws (65K tons) and files, pliers, pincers, tweezers, metal cutting shears and similar hand tools (59K tons), together committing a 56% share of total imports.

From 2013 to 2024, average annual rates of growth with regard to drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools imports of stood at +3.6%. At the same time, sets of two or more tools (+6.1%), hand-operated spanners and wrenches (+4.2%) and files, pliers, pincers, tweezers, metal cutting shears and similar hand tools (+3.2%) displayed positive paces of growth. Moreover, sets of two or more tools emerged as the fastest-growing type imported in the European Union, with a CAGR of +6.1% from 2013-2024. Agriculture or forestry hand tools and hand saws experienced a relatively flat trend pattern. While the share of sets of two or more tools (+2.9 p.p.), drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools (+2.4 p.p.) and hand-operated spanners and wrenches (+1.9 p.p.) increased significantly in terms of the total imports from 2013-2024, the share of agriculture or forestry hand tools (-3.1 p.p.) and hand saws (-4 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools ($3B) constitutes the largest type of hand tools imported in the European Union, comprising 39% of total imports. The second position in the ranking was held by hand saws ($1.3B), with a 17% share of total imports. It was followed by hand-operated spanners and wrenches, with a 16% share.

From 2013 to 2024, the average annual growth rate of the value of drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools imports totaled +3.5%. For the other products, the average annual rates were as follows: hand saws (+0.5% per year) and hand-operated spanners and wrenches (+4.3% per year).

In 2024, the import price in the European Union amounted to $10,138 per ton, shrinking by -11.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2023 an increase of 16%. As a result, import price attained the peak level of $11,412 per ton, and then dropped in the following year.

Prices varied noticeably by the product type; the product with the highest price was hand saws ($19,826 per ton), while the price for agriculture or forestry hand tools ($6,538 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by hand saws (+0.9%), while the other products experienced mixed trends in the import price figures.

In 2024, the import price in the European Union amounted to $10,138 per ton, falling by -11.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2023 an increase of 16%. As a result, import price reached the peak level of $11,412 per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($14,873 per ton), while Greece ($5,439 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.6%), while the other leaders experienced more modest paces of growth.

In 2024, overseas shipments of hand tools decreased by -24.1% to 349K tons, falling for the second consecutive year after three years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 15%. Over the period under review, the exports reached the peak figure at 499K tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, hand tools exports dropped sharply to $6B in 2024. The total export value increased at an average annual rate of +1.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of $7.6B. From 2022 to 2024, the growth of the exports remained at a somewhat lower figure.

The Netherlands (70K tons) and Germany (67K tons) were the main exporters of hand tools in 2024, reaching near 20% and 19% of total exports, respectively. Belgium (37K tons) ranks next in terms of the total exports with an 11% share, followed by Poland (8%), Spain (7%), Italy (6.2%), Greece (4.8%) and France (4.8%).

From 2013 to 2024, the biggest increases were recorded for Greece (with a CAGR of +25.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($2.1B) remains the largest hand tools supplier in the European Union, comprising 35% of total exports. The second position in the ranking was held by the Netherlands ($735M), with a 12% share of total exports. It was followed by France, with a 7.8% share.

From 2013 to 2024, the average annual rate of growth in terms of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+5.5% per year) and France (-0.5% per year).

Drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools was the largest type of hand tools in the European Union, with the volume of exports resulting at 130K tons, which was approx. 37% of total exports in 2024. It was distantly followed by hand-operated spanners and wrenches (56K tons), hand saws (54K tons), agriculture or forestry hand tools (46K tons), files, pliers, pincers, tweezers, metal cutting shears and similar hand tools (33K tons) and sets of two or more tools (30K tons), together committing a 63% share of total exports.

Drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools experienced a relatively flat trend pattern with regard to volume of exports. At the same time, hand-operated spanners and wrenches (+4.2%), sets of two or more tools (+3.4%) and files, pliers, pincers, tweezers, metal cutting shears and similar hand tools (+2.7%) displayed positive paces of growth. Moreover, hand-operated spanners and wrenches emerged as the fastest-growing type exported in the European Union, with a CAGR of +4.2% from 2013-2024. Agriculture or forestry hand tools experienced a relatively flat trend pattern. By contrast, hand saws (-5.8%) illustrated a downward trend over the same period. While the share of hand-operated spanners and wrenches (+5.9 p.p.), drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools (+2.8 p.p.), sets of two or more tools (+2.6 p.p.) and files, pliers, pincers, tweezers, metal cutting shears and similar hand tools (+2.3 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of hand saws (-14.2 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported hand tools were drilling or threading hand tools, household hand tools, screwdrivers, hammers and similar hand tools ($2.2B), hand saws ($1.3B) and hand-operated spanners and wrenches ($909M), together comprising 73% of total exports.

Hand-operated spanners and wrenches, with a CAGR of +4.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

The export price in the European Union stood at $17,296 per ton in 2024, with an increase of 6.2% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2023 when the export price increased by 14%. Over the period under review, the export prices attained the maximum in 2024 and is likely to see steady growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was files, pliers, pincers, tweezers, metal cutting shears and similar hand tools ($24,501 per ton), while the average price for exports of agriculture or forestry hand tools ($10,098 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by hand saws (+4.8%), while the other products experienced more modest paces of growth.

The export price in the European Union stood at $17,296 per ton in 2024, increasing by 6.2% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2023 an increase of 14%. The level of export peaked in 2024 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($31,064 per ton), while Greece ($4,617 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Italy (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the hand tools market in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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