Industry Focus >>Egypt Hardware & Fastening Tools
Trade Statistics

by Shervin Shahidi Hamedani
Copyright owned by Fastener World

埃及五金及緊固工具進出口統計

Hardware & Fastener Components - no.56/2022

Introduction

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Hardware and Fastening Tools are mostly
used in assembly operations in construction,
automotive and other industries whereversatility in operations is required to thegreat extent. Moreover, increasing use ofbolting and tooling across the electronics
and electrical equipment manufacturing
has paved the way for fastening tools in
the commercial and residential sector.
Fastening tools are generally made frommaterials including alloy or plastic andfibers which provide extra sturdiness toequipment handling and is most popularamong workers for its reliability.
The hardware and fastening tools market
is driven by factors such as rising demand
for saving time and improving accuracy
and efficiency, growing industrial activities,
increasing construction and infrastructure
activities, rising use of fastening tools in theautomotive, DIY, and electrical industries.
On the other hand, high costs of advanced
hardware and tools and lack of awarenessamong users is hindering market growth.

One of the major segments, the power tools market, was valued at
USD3721.31 million in 2021 in the Middle East and Africa market and it isprojected to reach USD5307.17 million by 2029, registering a CAGR of 6.10%
from 2022 to 2029. In the same region, drilling and fastening tools account for
the largest type segment in the end-use industry owing to their ease of use andbecause they are cheaper as compared to other power tools. Increasing applications of fastening power tools in the aerospace and defense industry, semiconductors industry and others for maintaining the safety and accuracy of heavymachinery are the major demand drivers for the market.

Egyptian Market
In Egypt, on the basis of types, the hardware and fastening tools market in
Egypt is mainly divided into mechanical, hydraulic, pneumatic, and electricsegments. The market for pneumatic tools is expected to grow faster as these tools
are durable enough to tolerate in severe (on-site) conditions such as oil & gas,
construction and power generation. The hardware in the electric segment continues
owing to its features such as density, accuracy, less noise, and quality assurance.
Growth in the E-commerce industry and rising investment in research anddevelopment (R&D) is expected to create opportunities for the market in theIndustry Focus >>f ut u re more sp e ci f ica lly i n t he
DIY sector. Revenue in the DIY &Hardware Store market amounts
to USD16.67 billion in 2022. The
market is expected to grow annually
by 5.31% (CAGR 2022-2027). In theglobal comparison, most revenue isgenerated in China with the value ofUSD710 billion in 2022.
In value terms, China constituted
the largest supplier of hand tools toEgypt, comprising 65% of the total
imports. The second position in theranking was taken by India, with a
6.7% share of the total imports. It
was followed by Taiwan, with a 4.7%share. In value terms, Sudan remains
the key foreign market for hand tools
expor ts from Egypt, comprising
39% of the total exports. The second
position in the ranking was held by
the United States, with a 17% shareof the total exports. It was followedby the UK, with a 13% share. In2021, the average hand tools export

price amounted to USD23,838 per ton, with an increase of 195% against the previousyear. In 2021, the average hand tools import price amounted to USD2,915 per ton, almost
unchanged from the previous year. In 2021, Egypt imported hand-operated spanners
and wrenches with the value of USD6.81 million, and USD2.78 million of files, rasps,and pliers. Egypt imported more than USD21 million of tools, interchangeable, for handtools such as tools for pressing, stamping, punching, tapping, threading, drilling, boring,broaching, milling, turning and screw driving.
The following chart exhibits the value of imports (in thousand US Dollar) to Egypt for
major three categories of fastening tools within the last five years:

Main Fastening Tools Imports to Egypt in 2017-2021
Unit: 1,000 USD

Increasing adoption of protective equipment for workers at sites and strict
regulations for equipment manufacturing are the main factors driving the demand for the power tools in the market. In addition, increasing developments
in tooling technology and the development of hybrid fasteners by prominentplayers in the market which are used in different sectors for minimal effort
and high speed of work are the growth drivers for the market.
High value of fastening power tools and increasing implementation of
mechanization across the global industries are the key restraining factors forthe market. On the other hand, advancements in the design of the tools and increasing electrifications made by emerging players in the market are expected
to drive the demand for the market in the future.

Pneumatic and Hydraulic Tools Exports to Egypt in 2017-2021

The left chart shows the value of pneumaticand hydraulic tools exported to Egypt’s market
in the last five years. As illustrated in the chart,
the top and the only major exporter is China. In
2020, for instance, more than 85% of the total
imports to Egypt’s market has been shipped fromChina.
In terms of the quantity, last year, Egypt imported more than 1,452 tons of pneumatic andhydraulic hand tools which is about only 5% lessthan 2020. The value of exports in 2021, wasonly USD221,000, of which more than 80% wasshipped to Tunisia with the value of USD185,000.

Hardware & Fastener Components - no.56/2022

Unit: Million USD

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In SummarySources:
Egypt Bolting Tools Market: Trends and Developments, by Growth Market Reports
ITC Trade Map, Trade statistics for international business development
Middle East and Africa Power Tools Market - Industry Trends and Forecast to 2029, by Data Bridge
Global Fastening Power Tools Market, by Maximize Market ResearchCompanies operating in the hardware andfastening tools market are extensively investingin research and development to develop new andinnovative techniques to manufacture advanced
tools and hardware. The prominent players in themarket are utilizing strategies such as productlaunches, mergers & acquisitions, and contracts& collaborations. These strategies are expected
to deliver effective goods and high-performancegoods, supporting market laws, and better client
satisfaction. The hardware and fastening tools
market is extremely fragmented with the presence of several manufacturers. Furthermore,manufacturers are trying to gain a competitiveedge through increased product differentiation.
Manufacturers in Egypt are also aiming at providing highly efficient and reliable tools havingadvanced features to make them user friendly,and provide fast, accurate, and safe applications.