Hand-Operated Drilling, Threading or Tapping Tool Market

The article discusses the increasing demand for hand-operated drilling, threading, or tapping tools worldwide, with consumption and production expected to rise over the next few years. Market performance is forecasted to expand at a steady rate, with key countries like China, the United States, and India leading in consumption and production. The analysis also covers import and export trends, highlighting key players like China and the Netherlands in the global market.

Market Forecast

Driven by increasing demand for hand-operated drilling, threading or tapping tools worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market volume to 139K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.4% for the period from 2022 to 2030, which is projected to bring the market value to $3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Hand-Operated Drilling, Threading or Tapping Tools

Global consumption of hand-operated drilling, threading or tapping tools expanded slightly to 99K tons in 2022, picking up by 2.2% on 2021 figures. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 -10.6% against 2020 indices. Global consumption peaked at 111K tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The size of the market for hand-operated drilling, threading or tapping tools worldwide expanded slightly to $1.8B in 2022, increasing by 4.5% 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, the total consumption indicated a remarkable 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, consumption decreased by -4.5% against 2020 indices. Over the period under review, the global market hit record highs at $1.9B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (19K tons), the United States (10K tons) and India (8.7K tons), with a combined 38% share of global consumption. Japan, Pakistan, Indonesia, Malaysia, Mexico, Turkey, Democratic Republic of the Congo, Italy, Saudi Arabia and Germany lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +18.9%), while tools for the other global leaders experienced more modest paces of growth.

In value terms, the largest hand-operated drilling, threading or tapping tool markets worldwide were the United States ($417M), Japan ($224M) and China ($142M), together accounting for 43% of the global market. India, Mexico, Italy, Indonesia, Germany, Turkey, Malaysia, Pakistan and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 24%.

In terms of the main consuming countries, Malaysia, with a CAGR of +12.6%, saw the highest rates of growth with regard to market size over the period under review, while tools for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of hand-operated drilling, threading or tapping tool per capita consumption in 2022 were Malaysia (86 kg per 1000 persons), Saudi Arabia (53 kg per 1000 persons) and Japan (49 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +17.6%), while tools for the other global leaders experienced more modest paces of growth.

Production

World Production of Hand-Operated Drilling, Threading or Tapping Tools

In 2022, approx. 90K tons of hand-operated drilling, threading or tapping tools were produced worldwide; increasing by 4.5% compared with 2021. In general, the total production indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Global production peaked at 92K tons in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, production of hand-operated drilling, threading or tapping tools dropped to $1.6B in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.6% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 20%. Global production peaked at $1.6B in 2021, and then fell slightly in the following year.

Production By Country

China (24K tons) remains the largest hand-operated drilling, threading or tapping tool producing country worldwide, accounting for 27% of total volume. Moreover, production of hand-operated drilling, threading or tapping tools in China exceeded the figures recorded by the second-largest producer, the United States (10K tons), twofold. India (8.4K tons) ranked third in terms of total production with a 9.4% share.

In China, production of hand-operated drilling, threading or tapping tools increased at an average annual rate of +6.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.2% per year) and India (+5.4% per year).

Imports

World Imports of Hand-Operated Drilling, Threading or Tapping Tools

In 2022, supplies from abroad of hand-operated drilling, threading or tapping tools decreased by -2.1% to 21K tons, falling for the second consecutive year after four years of growth. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 38% against the previous year. As a result, imports attained the peak of 27K tons. From 2021 to 2022, the growth of global imports of remained at a somewhat lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools rose to $247M in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. Over the period under review, global imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, Malaysia (2.8K tons) and the Netherlands (2.2K tons) were the main importers of hand-operated drilling, threading or tapping toolsacross the globe, together resulting at near 24% of total imports. It was distantly followed by the UK (1.3K tons), constituting a 6.1% share of total imports. France (954 tons), the United Arab Emirates (771 tons), Saudi Arabia (730 tons), Germany (675 tons), Belgium (643 tons), the United States (618 tons), Niger (561 tons), Indonesia (554 tons), India (552 tons) and Poland (364 tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +98.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($69M) constitutes the largest market for imported hand-operated drilling, threading or tapping tools worldwide, comprising 28% of global imports. The second position in the ranking was held by the United States ($14M), with a 5.9% share of global imports. It was followed by France, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to +15.0%. In the other countries, the average annual rates were as follows: the United States (+2.5% per year) and France (+14.8% per year).

Import Prices By Country

In 2022, the average import price for hand-operated drilling, threading or tapping tools amounted to $11,519 per ton, picking up by 6.7% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 24%. Over the period under review, average import prices reached the maximum at $13,367 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($30,650 per ton), while India ($2,057 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Hand-Operated Drilling, Threading or Tapping Tools

For the third consecutive year, the global market recorded growth in shipments abroad of hand-operated drilling, threading or tapping tools, which increased by 12% to 12K tons in 2022. Over the period under review, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.3% 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 +39.5% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 34%. The global exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, exports of hand-operated drilling, threading or tapping tools rose significantly to $189M in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

China represented the largest exporter of hand-operated drilling, threading or tapping tools in the world, with the volume of exports reaching 5.4K tons, which was near 44% of total exports in 2022. The Netherlands (1,304 tons) held the second position in the ranking, followed by the United Arab Emirates (750 tons) and the United States (593 tons). All these countries together held near 22% share of total exports. Belgium (366 tons), Germany (348 tons), Israel (329 tons), India (305 tons), Spain (234 tons), France (231 tons), Taiwan (Chinese) (220 tons) and Pakistan (207 tons) held a little share of total exports.

Exports from China increased at an average annual rate of +9.3% from 2012 to 2022. At the same time, the Netherlands (+31.7%), Belgium (+17.2%), the United Arab Emirates (+14.7%), France (+7.2%), Israel (+3.9%), Pakistan (+3.0%) and Taiwan (Chinese) (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +31.7% from 2012-2022. Spain experienced a relatively flat trend pattern. By contrast, Germany (-2.1%), the United States (-6.1%) and India (-11.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the Netherlands, the United Arab Emirates and Belgium increased by +23, +9.8, +4.3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($53M) remains the largest hand-operated drilling, threading or tapping tool supplier worldwide, comprising 28% of global exports. The second position in the ranking was held by the United States ($26M), with a 14% share of global exports. It was followed by the Netherlands, with a 12% share.

In China, exports of hand-operated drilling, threading or tapping tools increased at an average annual rate of +16.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+0.1% per year) and the Netherlands (+30.8% per year).

Export Prices By Country

The average export price for hand-operated drilling, threading or tapping tools stood at $15,396 per ton in 2022, remaining constant against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 8.6%. Over the period under review, the average export prices attained the maximum at $17,802 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($43,404 per ton), while Pakistan ($3,679 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 Arab Emirates (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform