Skip navigation
Reports & Analysis Custom Research Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Custom Research
  • Research Subscriptions

Resources

  • Press Releases
  • Blog
  • Resources & Downloads
  • Impact Tracker

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Back to Press Releases

Shipments of Screwdrivers to Reach $140 Million in 2024

by Corinne Gangloff

July 17, 2020

Shipments of screwdrivers are expected to return to growth through 2024, rising 2.1% annually to $140 million. Although competition from lower cost imports continues to weigh on US producers, domestic shipments have been bolstered to an extent by US-imposed tariffs on screwdrivers imported from China. In May 2020, however, the USTR announced that certain select classes of screwdrivers are retroactively excluded from the tariff schedule. Given the limited scope of these exclusions, the trend toward some level of reshoring is expected to continue.

Learn more about all hand tool trends in the new Hand Tools study. https://www.freedoniagroup.com/industry-study/hand-tools-3833.htm

The US is a net importer of screwdrivers, with imports accounting for 58% of demand in 2019. Countries such as China and Taiwan are important suppliers due to the low labor costs and extensive tool manufacturing infrastructures in these countries:

  • China supplies lower cost, commodity-type models – which appeal in particular to consumers, who are less likely to need specialized, value-added, or powered screwdrivers – on the basis of its lower manufacturing costs.
  • While Taiwan also has lower manufacturing costs than the US, savings are not as great as for Chinese products. However, screwdrivers made in Taiwan enjoy a greater reputation for quality, which will bolster US imports from this country.

Hand Tools analyzes US supply and demand for hand tools and parts and associated attachments by product, market, and distribution channel. See a full list of Consumer Goods studies here: https://www.freedoniagroup.com/industry-category/cons/consumer-goods.htm

Have unique research needs?

Freedonia Custom Research listens intently to your needs and objectives. Then we work diligently to define and deliver a service to meet them.
Learn About Our Custom Research Services

Subscribe to Our Blog

Stay up to date with the latest information about new market research and news in areas relevant to your business from our analysts and team members.

Freedonia Focus Blog Subscription

Provide the following details to subscribe.

  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press
  • User Agreement
  • Privacy Policy
  • Site Map
Facebook Linkedin Twitter

Additional Resources

  • Market Size Resources
  • Lawn Mowers Research
  • Global Lubricants Research
  • Global Paint & Coatings Research
  • Global Industrial Valves Research
  • Global Agricultural Equipment Research
  • Indoor Air Quality Equipment Research
  • Global Adhesives & Sealants Research
  • Hardscaping Products Research
  • Residential Landscaping Research
  • Food Packaging Research
  • Global Carpets & Rugs Research
  • Global Residential HVAC Research
Copyright © 2023 MarketResearch.com, Inc. All rights reserved.