Italy: Power Tool Market 2024

Power Tool Market Size in Italy

The Italian power tool market skyrocketed to $X in 2021, increasing by 37% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.8% against 2013 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Power Tool Production in Italy

In value terms, power tool production declined rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 48%. Power tool production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Power Tool Exports

Exports from Italy

After six years of growth, shipments abroad of power tools decreased by -5.3% to X units in 2021. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 41% against the previous year. The exports peaked at X units in 2020, and then fell in the following year.

In value terms, power tool exports expanded sharply to $X in 2021. Overall, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 32%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X units), France (X units) and Malta (X units) were the main destinations of power tool exports from Italy, with a combined 59% share of total exports. These countries were followed by Spain, Belgium, Poland, the Czech Republic, Austria, the UK, the Netherlands, Greece, the United States and Slovenia, which together accounted for a further 50%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +24.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Spain ($X) appeared to be the largest markets for power tool exported from Italy worldwide, with a combined 33% share of total exports.

Spain, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, rising by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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 States ($X per unit), while the average price for exports to Malta ($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 Greece (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Italy

For the sixth consecutive year, Italy recorded growth in supplies from abroad of power tools, which increased by 33% to X units in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.7% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool imports surged to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% 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 +103.1% against 2013 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 supplier of power tool to Italy, accounting for a 42% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), threefold. Spain (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+26.2% per year) and Spain (+19.5% per year).

In value terms, the largest power tool suppliers to Italy were China ($X), Germany ($X) and Austria ($X), with a combined 60% share of total imports. Belgium, Romania, Spain, France, the Netherlands and Hungary lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Romania, with a CAGR of +24.8%, recorded 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

In 2021, the average power tool import price amounted to $X per unit, growing by 4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 4.1% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 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 France ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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