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The Global Hand Tool Market Picks Momentum


The Global Hand Tool Market Picks Momentum

IndexBox has just published a new report: ‘World – Hand Tools – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Hand tool manufacturing is gradually seeing a recovery, following the decline in 2020. The market is forecast to accelerate, due to the increased need for DIY and repair work and construction growth in terms of private homes.

Key Trends and Insights

In 2020, hand tool manufacturing worldwide experienced a significant decline, due to the Covid-19 restrictions. In 2020, most countries noted a decline in hand tool manufacture, and the global imports reduced almost by half from the 2019 level (IndexBox estimates).

The increase in the need for DIY and repair work, against the continuing remote working trend, remains a key impetus to the hand tool market recovery in 2021. The fall in real household income as a result of the pandemic is forcing people to switch from the use of paid services to completing repair work themselves; this, in turn, may enhance the demand for hand tools. In Western countries, primarily the U.S., construction growth in terms of new out-of-town housing, is an additional driving factor.

In the current climate of increased awareness regarding the issue of environmental sustainability, special recycling points for hand and garden tools are now becoming more widespread. Tools and hardware accepted at these recycling points are given to kindergartens, schools, prisons and social community groups for their ongoing use.

The U.S. Leads Hand Tools Consumption and Imports

The countries with the highest volumes of hand tools consumption in 2019 were the U.S. (568K tonnes), China (332K tonnes) and Japan (112K tonnes), with a combined 34% share of global consumption. Italy, Brazil, Germany, Russia, the UK, France, Canada, Viet Nam, South Korea and Thailand lagged somewhat behind, together accounting for a further 25% (IndexBox estimates).

From 2012 to 2019, the most notable rate of growth in terms of hand tools consumption, amongst the key consuming countries, was attained by Italy, while hand tools consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest hand tools markets worldwide were the U.S. ($5B), Japan ($2.9B) and China ($1.6B), with a combined 39% share of the global market. Italy, Canada, Germany, South Korea, France, the UK, Brazil, Russia, Viet Nam and Thailand lagged somewhat behind, together accounting for a further 29%.

The countries with the highest levels of hand tools per capita consumption in 2019 were Canada (1.81 kg per person), Italy (1.75 kg per person) and the U.S. (1.72 kg per person).

From 2012 to 2019, the biggest increases were in Italy, while hand tools per capita consumption for the other global leaders experienced more modest paces of growth.

In 2019, the U.S. (416K tonnes), distantly followed by Germany (149K tonnes) were the major importers of hand tools, together committing 23% of total imports. The following importers – the UK (85K tonnes), France (81K tonnes), Russia (81K tonnes), the Netherlands (76K tonnes), Poland (56K tonnes), Spain (52K tonnes), Belgium (51K tonnes), Canada (50K tonnes), Indonesia (49K tonnes), China (46K tonnes) and Malaysia (44K tonnes) – together made up 27% of total imports.

Imports into the U.S. increased at an average annual rate of +4.2% from 2012 to 2019. At the same time, Poland (+7.9%), Spain (+4.6%), Belgium (+4.1%), Malaysia (+3.8%), Germany (+2.6%), the Netherlands (+2.5%), Indonesia (+2.1%), China (+2.0%), the UK (+1.8%), France (+1.7%) and Russia (+1.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +7.9% from 2012-2019. By contrast, Canada (-3.3%) illustrated a downward trend over the same period. While the share of the U.S. (+3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($3.7B) constitutes the largest market for imported hand tools worldwide, comprising 18% of global imports. The second position in the ranking was occupied by Germany ($1.6B), with a 7.8% share of global imports. It was followed by France, with a 4.3% share.

Source: IndexBox AI Platform

dump trucks

4 Vital Trends Driving the Use of Dump Trucks Through 2025

According to a report by Global Market Insights, Inc., the global dump trucks market size is expected to be valued at above USD $24 billion by 2025. Enumerated below are some of the trends influencing the industry forecast in the coming years.

The consistent growth of the construction and mining industries has steered the use of dump trucks to transport bulky equipment and commodities that can help in recycling and shifting of goods. Dump trucks are transport vehicles with large capacities of holding heavy-duty, enormous materials employed in mining, landscaping, and dumping activities.

They can be categorized based on their specifications and capacities of load they can withstand, among others. The adoption of the vehicles has seen rapid growth over the years pertaining to advantages like productivity and efficiency they offer to customers.

Advancements in articulate model trucks

Dump trucks are fostered with high-performance engines and fuels, powered with advanced features to ensure continuous and efficient use. A considerable number of articulated models with replaced or newer, powerful features have emerged to fulfill mining and transport services.

Amending the dump trucks to fit into various customer requisites, with the emergence of newer enhanced versions of tipper trucks have been revolutionized or launched. For an instance, Caterpillar came up with three newly articulated trucks along with new operator stations and engines in April 2018.

Big booster in the mining industry

Dump trucks are at the disposal of a wide range of mining projects, from shifting extracted wastes or valuables from one region to another, to running errands for operations in mines and terrains. Asian and Middle Eastern countries are a hub to a lot of mining assignments, and with newer projects gaining momentum, impacting the tipper truck industry outlook.

Additionally, to cut down on pollution and toxic, carbon emissions employed during the mining process, and recycling hazardous wastages, the mining industrialists are working towards lower emissions and low-level consumption of fuels for the trucks.

Infrastructure development measures in Europe

Rapidly rising infrastructure development and construction projects have stimulated a potential demand for dump trucks in the European markets across the UK, Germany, France, among others. With the residents of these countries calling for urbanization, the governments are pitching for tipper trucks with initiatives that are minimal in contributing to carbon or other pollutants and are powered with advanced features, along with mandating safety measures for workers or employees at the relevant sites.

Consequently, focusing on the safety parameters, brands are in a process of launching safety-centric products in these regions. To give an instance, in July 2018, the launch of Komatsu’s new rigid truck model, HD1500-8 in Europe was based on some operator safety features.

Some of the biggest manufacturers of tipper trucks are Caterpillar Inc., Komatsu Ltd., Liebherr Group, Volvo Trucks, Sany Group, Terex Trucks, Hitachi Construction Machinery, and a few more. These companies have been extremely instrumental in application-specific, newer, technically advanced machinery and in investing in rental machines that are pivotal for augmenting dump truck market share on a global scale.


Despite being armed with a rich corporate exposure in the software and marketing domains, Shreya Bhute nurtured a deep interest in content development. Intrigued by the same, she took to writing as a career and currently pens down diverse articles pertaining to the business, automotive, healthcare, and chemical sectors. Shreya holds an engineering degree in Information Technology and has relevant experience in the field. Her other interests include reading, gardening, cooking, and restaurant hopping.