EU: Power Tool Market 2024

Power Tool Market Size in the EU

In 2021, the EU power tool market increased by 15% to $X, rising for the sixth year in a row after two years of decline. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +68.8% against 2015 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Power Tool Production in the EU

In value terms, power tool production plummeted to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 35%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Power Tool Exports

Exports in the EU

In 2021, shipments abroad of power tools increased by 20% to X units, rising for the second year in a row after two years of decline. Total exports indicated a buoyant increase from 2012 to 2021: its volume 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, exports increased by +43.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, power tool exports soared to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +100.4% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany represented the largest exporter of power tools in the European Union, with the volume of exports accounting for X units, which was near 33% of total exports in 2021. The Netherlands (X units) took the second position in the ranking, followed by Hungary (X units), Belgium (X units), Romania (X units), Austria (X units) and Poland (X units). All these countries together held approx. 50% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to power tool exports from Germany stood at +5.8%. At the same time, the Netherlands (+18.5%), Poland (+13.2%), Austria (+12.3%), Romania (+11.4%), Belgium (+4.3%) and Hungary (+4.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +18.5% from 2012-2021. While the share of the Netherlands (+7.7 p.p.), Austria (+2.7 p.p.), Romania (+2.4 p.p.) and Poland (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belgium (-1.9 p.p.), Hungary (-2.2 p.p.) and Germany (-2.3 p.p.) displayed negative dynamics.

In value terms, Germany ($X) remains the largest power tool supplier in the European Union, comprising 34% of total exports. The second position in the ranking was taken by Romania ($X), with an 8.9% share of total exports. It was followed by Belgium, with an 8.6% share.

In Germany, power tool exports expanded at an average annual rate of +4.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Romania (+21.8% per year) and Belgium (+4.5% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per unit, rising by 6.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 9.2% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+9.3%), while the other leaders experienced more modest paces of growth.

Power Tool Imports

Imports in the EU

For the tenth year in a row, the European Union recorded growth in supplies from abroad of power tools, which increased by 27% to X units in 2021. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool imports skyrocketed to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.2% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units), distantly followed by Belgium (X units), the Netherlands (X units), France (X units), Spain (X units), Poland (X units) and Austria (X units) were the key importers of power tools, together generating 76% of total imports. Italy (X units), Hungary (X units), the Czech Republic (X units), Sweden (X units) and Romania (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 48% of total imports. These countries were followed by Belgium, Poland, Austria, Spain, Italy, Sweden, the Czech Republic, Hungary and Romania, which together accounted for a further 41%.

Hungary, with a CAGR of +18.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per unit, growing by 4.6% against the previous year. Over the period under review, the import price, however, saw a perceptible setback. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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