Australia: Power Tool Market 2024

Power Tool Market Size in Australia

The Australian power tool market skyrocketed to $X in 2021, with an increase of 34% 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). Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +108.1% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Power Tool Exports

Exports from Australia

In 2021, shipments abroad of power tools decreased by -28.7% to X units, falling for the third consecutive year after two years of growth. In general, exports, however, showed perceptible growth. The pace of growth appeared the most rapid in 2014 when exports increased by 181%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, power tool exports surged to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X units) was the main destination for power tool exports from Australia, with a 64% share of total exports. Moreover, power tool exports to New Zealand exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Papua New Guinea (X units), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.8% per year) and Papua New Guinea (-4.4% per year).

In value terms, the largest markets for power tool exported from Australia were New Zealand ($X), the United States ($X) and Germany ($X), together comprising 35% of total exports. Papua New Guinea, Vietnam, China and the Philippines lagged somewhat behind, together accounting for a further 10%.

Vietnam, with a CAGR of +28.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, growing by 135% against the previous year. Over the period under review, the export price continues to indicate notable growth. The growth pace was the most rapid in 2016 when the average export price increased by 141% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Australia

In 2021, overseas purchases of power tools increased by 25% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.6% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 28%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, power tool imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Australia, with a 88% share of total imports. It was followed by Thailand (X units), with a 1.7% share of total imports. Mexico (X units) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+293.8% per year) and Mexico (+2.0% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Australia, comprising 79% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.5% share of total imports. It was followed by Mexico, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and Mexico (-1.8% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, picking up by 7.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2016 an increase of 14% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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