United States's Non-Electric Motor Handtools Market to See Slow but Steady Growth in Volume and Value - News and Statistics - IndexBox

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IndexBox has just published a new report: U.S. - Handtools, Hydraulic Or With A Self-Contained Non-Electric Motor - Market Analysis, Forecast, Size, Trends And Insights.

The non-electric motor handtools market in the United States is expected to experience an upward consumption trend over the next decade, with an anticipated CAGR of +0.4% in market volume and +0.5% in market value. By the end of 2035, the market volume is projected to reach 3.2M units, while the market value is forecasted to reach $329M in nominal prices.

Driven by rising demand for non-electric motor handtools in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.4% for the period from 2024 to 2035, which is projected to bring the market volume to 3.2M units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market value to $329M (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of handtools, hydraulic or with a self-contained non-electric motor increased by 26% to 3.1M units for the first time since 2021, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a abrupt decline. Non-electric motor handtools consumption peaked at 5.7M units in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

The value of the non-electric motor handtools market in the United States soared to $311M in 2024, picking up by 15% 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, recorded a noticeable descent. Non-electric motor handtools consumption peaked at $424M in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

In 2024, the amount of handtools, hydraulic or with a self-contained non-electric motor produced in the United States surged to 948K units, growing by 50% on the previous year's figure. Overall, production showed resilient growth. Over the period under review, production attained the peak volume at 1.3M units in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

In value terms, non-electric motor handtools production soared to $229M in 2024. In general, production recorded significant growth. Non-electric motor handtools production peaked at $305M in 2022; however, from 2023 to 2024, production remained at a lower figure.

In 2024, overseas purchases of handtools, hydraulic or with a self-contained non-electric motor were finally on the rise to reach 2.4M units for the first time since 2021, thus ending a two-year declining trend. In general, imports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, imports hit record highs at 6.8M units in 2013; however, from 2014 to 2024, imports failed to regain momentum.

In value terms, non-electric motor handtools imports dropped to $259M in 2024. Overall, imports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 16%. Imports peaked at $496M in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

In 2023, China (1.4M units) constituted the largest supplier of non-electric motor handtools to the United States, with a 60% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Mexico (213K units), sixfold. The third position in this ranking was taken by Germany (162K units), with a 7.2% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from China stood at -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-23.7% per year) and Germany (+0.5% per year).

In value terms, Germany ($88M) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to the United States, comprising 33% of total imports. The second position in the ranking was held by China ($42M), with a 16% share of total imports. It was followed by Sweden, with a 14% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Germany stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.5% per year) and Sweden (+2.7% per year).

In 2023, the average non-electric motor handtools import price amounted to $119 per unit, increasing by 5.3% against the previous year. Over the last decade, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2022 an increase of 33%. Over the period under review, average import prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Sweden ($673 per unit), while the price for France ($26 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, shipments abroad of handtools, hydraulic or with a self-contained non-electric motor decreased by -33.2% to 320K units, falling for the sixth year in a row after two years of growth. Overall, exports recorded a deep contraction. The growth pace was the most rapid in 2014 with an increase of 12% against the previous year. As a result, the exports attained the peak of 1.3M units. From 2015 to 2024, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric motor handtools exports declined to $115M in 2024. In general, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 7%. The exports peaked at $280M in 2014; however, from 2015 to 2024, the exports stood at a somewhat lower figure.

Canada (176K units) was the main destination for non-electric motor handtools exports from the United States, accounting for a 37% share of total exports. Moreover, non-electric motor handtools exports to Canada exceeded the volume sent to the second major destination, France (52K units), threefold. The third position in this ranking was held by Australia (30K units), with a 6.3% share.

From 2013 to 2023, the average annual growth rate of volume to Canada totaled -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-4.1% per year) and Australia (+2.7% per year).

In value terms, Canada ($43M) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from the United States, comprising 32% of total exports. The second position in the ranking was held by France ($17M), with a 13% share of total exports. It was followed by Mexico, with an 8.5% share.

From 2013 to 2023, the average annual rate of growth in terms of value to Canada amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.3% per year) and Mexico (-8.8% per year).

The average non-electric motor handtools export price stood at $280 per unit in 2023, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($424 per unit), while the average price for exports to Japan ($70 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the non-electric motor handtools market in the U.S.. 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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