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Exhibition Highlights

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By Andrew Hsu
n 2022, the global hand tools market surpassed US$125.5 mandatory quarantine of the COVID-19 pandemic, remains
Ibillion, with over 50% of the market share concentrated a noteworthy contributor to the sustained market growth.
in Europe and the United States. Additionally, the Market
Research Firm IMARC Group predicts that by 2028, it will To meet the growing demand and capitalize on business
reach $32.1 billion, exhibiting a compound annual growth opportunities for both top-notch suppliers and buyers,
rate (CAGR) of 4.2% between 2023 and 2028. Turning to Economic Daily News/CENS is proactively engaging in a
Taiwan, the hand tool industry recorded an output value of range of hardware and hand tools exhibitions in 2023. The
NT$24 billion in the second quarter of 2023, marking a 4.7% initiative involves disseminating the exclusive show express
increase from the preceding quarter. In terms of exports, and professional trade magazine, coupled with providing
Taiwan’s hand tools achieved an export value of NT$18.2 complimentary matchmaking services. This concerted effort
billion during this quarter, reflecting a 6.8% increase from the aims to expedite the alignment of business opportunities
previous quarter, securing its position as the world’s third- between discerning buyers and high-quality suppliers.
largest hand tool exporter.
Jan. 31-Feb. 2, 2023:
The ongoing expansion of the global hand tools National Hardware Show (NHS 2023)
market is primarily anchored in the escalating demand for
construction and repair & maintenance services spurred by As the largest and most established hardware exhibition
the rapid urbanization of emerging nations. Concurrently, in North America, the National Hardware Show (NHS)
specific developmental policies, including the emphasis remains a pivotal event for numerous high-profile hardware
on infrastructure projects like roads, airports, and energy and hand tools manufacturers. Concluding on February 2,
utilities, further fuel this growth trajectory. This surge in 2023, this year’s show achieved noteworthy outcomes, with
demand is not limited to construction alone; there’s a 48% of visitors placing orders across various categories.
heightened need for portable and lightweight equipment, Also, the event boasted the participation of over 1,000
particularly in the automotive maintenance sector, amplifying exhibitors, of which an impressive 60% were new additions
the utility of various hand tools in the industry. Moreover, to the exhibition.
the DIY trend, which gained momentum during the

Taiwan Hand Tools 2024 Issue