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

Market Size for In-Hand Motor Grinders, Sanders And Planers in the Dominican Republic

The Dominican market for in-hand motor grinders, sanders and planers soared to $X in 2021, growing by 118% 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). In general, consumption posted a prominent increase. Consumption of peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from the Dominican Republic

After two years of growth, overseas shipments of in-hand motor grinders, sanders and planers decreased by -26.4% to X units in 2021. Overall, exports, however, posted moderate growth. The pace of growth was the most pronounced in 2020 with an increase of 412%. As a result, the exports attained the peak of X units, and then contracted sharply in the following year.

In value terms, exports of in-hand motor grinders, sanders and planers fell markedly to $X in 2021. In general, exports, however, posted slight growth. The growth pace was the most rapid in 2020 with an increase of 483%. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

Australia (X units), Jamaica (X units) and France (X units) were the main destinations of exports of in-hand motor grinders, sanders and planers from the Dominican Republic, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jamaica (with a CAGR of +149.9%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from the Dominican Republic were Jamaica ($X), Australia ($X) and France ($X).

Among the main countries of destination, Jamaica, with a CAGR of +246.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, declining by -25.8% against the previous year. In general, the export price recorded a mild decrease. The pace of growth appeared the most rapid in 2018 an increase of 121% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per unit), while the average price for exports to Australia ($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 France (+61.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into the Dominican Republic

In 2021, imports of in-hand motor grinders, sanders and planers into the Dominican Republic soared to X units, rising by 175% compared with the previous year's figure. Overall, imports posted a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 221% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, imports of in-hand motor grinders, sanders and planers soared to $X in 2021. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2014 when imports increased by 217% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to the Dominican Republic, accounting for a 89% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Spain (X units), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.1% per year) and Spain (-0.2% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to the Dominican Republic, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by Mexico, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.6% per year) and Mexico (+0.7% per year).

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, dropping by -42.5% against the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 28%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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