World Hand Tool Market to Grow 4.6% annually from 2014 to 2018, According to a New Study on ASDReports

Friday 3 October 2014, Amsterdam

Global demand for hand tools is forecast to expand 4.6% p.a. between 2014 and 2018. Bangladesh, Bolivia, China, Germany and the United States are considered the highest potential markets in the coming years.

According to recently published research now available on ASDReports the expansion of the global hand tool industry is forecast to reach 4.6% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 6.3%. Currently, electric hand-held drills account for 22.6% of the global demand while the remaining market share is divided between hand tool parts (11.6%), electric hand-held saws (9.2%), pneumatic hand tools (7.5%), chain saws (5.2%) and other hand tools (43.8%).

China, France, Germany, Japan and the United States represent the largest hand tool markets while the strongest annual growth is forecast to occur in Bangladesh (14.9%), Bolivia (11.3%), United States (9.4%), Ecuador (8.4%) and Kyrgyzstan (8.3%).

Hand tool market size compared to market growth in different countries