Japan: Power Tool Market 2024

Power Tool Market Size in Japan

The Japanese power tool market rose to $X in 2021, growing by 3.1% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +87.0% against 2013 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Power Tool Production in Japan

In value terms, power tool production totaled $X in 2021 estimated in export price. Overall, the total production indicated strong growth 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, production increased by +75.1% against 2013 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 38% against the previous year. Power tool production peaked in 2021 and is likely to continue growth in years to come.

Power Tool Exports

Exports from Japan

In 2021, shipments abroad of power tools was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool exports soared to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period 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 United States (X units), Vietnam (X units) and Germany (X units) were the main destinations of power tool exports from Japan, together comprising 39% of total exports. These countries were followed by Australia, the UK, Taiwan (Chinese), the Netherlands, Russia, China, Poland, France, the United Arab Emirates and Thailand, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +99.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for power tools exports from Japan, comprising 25% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.9% share of total exports. It was followed by Australia, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.4% per year) and Australia (+3.6% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, increasing by 5.8% against the previous year. Overall, the export price, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 8% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Netherlands ($X per unit), while the average price for exports to Vietnam ($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 (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Japan

In 2021, the amount of power tools imported into Japan soared to X units, picking up by 18% against the year before. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +118.0% against 2012 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 23% against the previous year. 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. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.8% 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 +105.0% 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 supplier of power tool to Japan, with a 88% share of total imports. It was followed by Malaysia (X units), with a 1.9% share of total imports. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.2% per year) and Taiwan (Chinese) (+1.1% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Japan, comprising 88% of total imports. The second position in the ranking was held by Malaysia ($X), with a 2% share of total imports. It was followed by Taiwan (Chinese), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.1% per year) and Taiwan (Chinese) (+0.9% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, rising by 11% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Malaysia ($X per unit) and Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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