Czech Republic: Power Tool Market 2024

Power Tool Market Size in the Czech Republic

The Czech power tool market surged to $X in 2021, increasing by 26% against the previous year. Overall, consumption continues to indicate a remarkable increase. Power tool consumption peaked in 2021 and is expected to retain growth in the immediate term.

Power Tool Production in the Czech Republic

In value terms, power tool production dropped notably to $X in 2021 estimated in export price. In general, production saw a dramatic decrease. The pace of growth was the most pronounced in 2013 with an increase of 123%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Power Tool Exports

Exports from the Czech Republic

In 2021, overseas shipments of power tools decreased by -2.3% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 111% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, power tool exports soared to $X in 2021. The total export value increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern 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

Germany (X units) was the main destination for power tool exports from the Czech Republic, with a 56% share of total exports. Moreover, power tool exports to Germany exceeded the volume sent to the second major destination, Belgium (X units), twofold. The UK (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-1.3% per year) and the UK (-0.5% per year).

In value terms, Germany ($X) remains the key foreign market for power tools exports from the Czech Republic, comprising 41% of total exports. The second position in the ranking was taken by Belgium ($X), with a 15% share of total exports. It was followed by the UK, with a 9% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+2.6% per year) and the UK (-1.8% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, surging by 30% against the previous year. Overall, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 158%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

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 the United Arab Emirates ($X per unit), while the average price for exports to Hungary ($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 Slovakia (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into the Czech Republic

In 2021, the amount of power tools imported into the Czech Republic stood at X units, with an increase of 7.3% on the previous year. Over the period under review, imports saw a resilient increase. The pace of growth appeared the most rapid in 2018 when imports increased by 38% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, power tool imports skyrocketed to $X in 2021. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of power tool imports to the Czech Republic, with a combined 69% share of total imports. Poland, Austria, Romania, Slovakia and Hungary lagged somewhat behind, together accounting for a further 25%.

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 +56.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest power tool suppliers to the Czech Republic were Germany ($X), Poland ($X) and China ($X), together comprising 66% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +57.9%, 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

The average power tool import price stood at $X per unit in 2021, increasing by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +5.6%. The pace of growth appeared the most rapid in 2013 an increase of 27% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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