Croatia: Power Tool Market 2024

Power Tool Market Size in Croatia

For the eighth consecutive year, the Croatian power tool market recorded growth in sales value, which increased by 22% to $X in 2021. Overall, consumption enjoyed a strong increase. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Power Tool Exports

Exports from Croatia

In 2021, shipments abroad of power tools decreased by -1.2% to X units, falling for the second year in a row after eight years of growth. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 82%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, power tool exports stood at $X in 2021. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 127% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Slovenia (X units), Bosnia and Herzegovina (X units) and Germany (X units) were the main destinations of power tool exports from Croatia, together accounting for 93% of total exports. Montenegro, Lithuania, Malta and Serbia lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +563.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Bosnia and Herzegovina ($X) and Germany ($X) constituted the largest markets for power tool exported from Croatia worldwide, with a combined 83% share of total exports. These countries were followed by Montenegro, Lithuania, Malta and Serbia, which together accounted for a further 8.8%.

Among the main countries of destination, Lithuania, with a CAGR of +593.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, picking up by 10% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, power tool export price increased by +37.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 58% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Malta ($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 Montenegro (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Croatia

For the eighth year in a row, Croatia recorded growth in supplies from abroad of power tools, which increased by 16% to X units in 2021. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 88%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports saw prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X units), China (X units) and Slovenia (X units) were the main suppliers of power tool imports to Croatia, together comprising 77% of total imports. These countries were followed by Hungary, Poland and Austria, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +108.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest power tool suppliers to Croatia were Germany ($X), China ($X) and Hungary ($X), with a combined 61% share of total imports. These countries were followed by Slovenia, Poland and Austria, which together accounted for a further 26%.

Among the main suppliers, Poland, with a CAGR of +107.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, rising by 6.4% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, power tool import price decreased by -0.5% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 82% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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