Bangladesh: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Bangladesh

The Bangladeshi market for in-hand motor grinders, sanders and planers skyrocketed to $X in 2021, jumping by 51% 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). Overall, consumption showed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Bangladesh

In 2021, overseas shipments of in-hand motor grinders, sanders and planers decreased by -34.9% to X units, falling for the second year in a row after five years of growth. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 261% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of in-hand motor grinders, sanders and planers shrank rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 211%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from Bangladesh, with a 91% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to Qatar exceeded the volume sent to the second major destination, the Czech Republic (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar totaled +80.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-47.6% per year) and Costa Rica (0.0% per year).

In value terms, Qatar ($X) remains the key foreign market for electromechanical tools for working in the hand, with self-contained electric motor exports from Bangladesh, comprising 97% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar totaled +88.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-15.0% per year) and Costa Rica (0.0% per year).

Export Prices by Country

In 2021, the average export price for in-hand motor grinders, sanders and planers amounted to $X per unit, surging by 5.3% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for in-hand motor grinders, sanders and planers increased by +133.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 88% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per unit), while the average price for exports to Costa Rica ($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 Switzerland (+1,536.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Bangladesh

Imports of in-hand motor grinders, sanders and planers into Bangladesh skyrocketed to X units in 2021, increasing by 46% against the year before. Over the period under review, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of in-hand motor grinders, sanders and planers skyrocketed to $X in 2021. Overall, imports continue to indicate a prominent increase. 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) was the main electromechanical tools for working in the hand, with self-contained electric motor supplier to Bangladesh, with a approx. 98% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +21.3%.

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to Bangladesh.

From 2012 to 2021, the average annual growth rate of value from China amounted to +23.9%.

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, surging by 9.5% against the previous year. In general, the import price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by 13%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +2.1% per year.

Source: IndexBox Platform

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