Ireland: Power Tool Market 2024

Power Tool Market Size in Ireland

In 2021, the Irish power tool market increased by 58% to $X, rising for the fourth year in a row after four years of decline. In general, consumption posted a buoyant expansion. Power tool consumption peaked in 2021 and is likely to continue growth in the near future.

Power Tool Exports

Exports from Ireland

In 2021, the amount of power tools exported from Ireland reduced sharply to X units, waning by -18.1% against the previous year's figure. Overall, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 69%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, power tool exports totaled $X in 2021. In general, exports recorded a sharp shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 21%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for power tool exports from Ireland, accounting for a 455% share of total exports. It was followed by Saudi Arabia (X units), with a 7.6% share of total exports. The third position in this ranking was taken by China (X units), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+19.7% per year) and China (+119.2% per year).

In value terms, the UK ($X) remains the key foreign market for power tools exports from Ireland, comprising 91% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 0.7% share of total exports. It was followed by China, with a 0.7% share.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+49.2% per year) and China (+81.4% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, increasing by 28% against the previous year. In general, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, power tool export price increased by +24.3% against 2018 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 94% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to China ($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 Saudi Arabia (+24.6%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Ireland

For the fifth year in a row, Ireland recorded growth in overseas purchases of power tools, which increased by 29% to X units in 2021. Over the period under review, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 53%. 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 soared to $X in 2021. In general, imports recorded a significant increase. 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 supplier of power tool to Ireland, with a 70% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+23.7% per year) and the Netherlands (+66.2% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Ireland, comprising 52% of total imports. The second position in the ranking was held by the UK ($X), with a 23% share of total imports. It was followed by the Netherlands, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +33.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+19.3% per year) and the Netherlands (+55.3% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, rising by 30% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for the Netherlands ($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 (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :