Germany: Power Tool Market 2024

Power Tool Market Size in Germany

After three years of growth, the German power tool market decreased by -61% to $X in 2021. In general, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Power Tool Production in Germany

In value terms, power tool production declined markedly to $X in 2021 estimated in export price. Over the period under review, production showed a sharp contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 47%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Power Tool Exports

Exports from Germany

Power tool exports from Germany surged to X units in 2021, growing by 24% on the previous year's figure. The total export volume increased at an average annual rate of +5.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.3% 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

The Netherlands (X units), France (X units) and Austria (X units) were the main destinations of power tool exports from Germany, together accounting for 45% of total exports. Spain, Poland, Italy, the United States, Russia, Switzerland, the Czech Republic, Belgium, the UK and Sweden lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +23.9%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Poland ($X) appeared to be the largest markets for power tool exported from Germany worldwide, together accounting for 35% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +13.7%, 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

The average power tool export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the export price, however, saw a slight decline. The pace of growth was the most pronounced in 2018 when the average export price increased by 5.8%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Spain ($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 the United States (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Germany

For the tenth consecutive year, Germany recorded growth in overseas purchases of power tools, which increased by 12% to X units in 2021. Overall, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 77%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, power tool imports surged to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +62.3% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Germany, with a 55% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), threefold. The third position in this ranking was held by the Netherlands (X units), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+12.4% per year) and the Netherlands (+41.8% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Germany, comprising 36% of total imports. The second position in the ranking was taken by Hungary ($X), with a 16% share of total imports. It was followed by Austria, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+6.0% per year) and Austria (+19.5% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, picking up by 5.4% against the previous year. In general, the import price, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 9.6% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Switzerland ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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