Lithuania: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Lithuania

For the third consecutive year, the Lithuanian non-electric motor handtools market recorded growth in sales value, which increased by 93% to $X in 2022. Overall, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Electric Motor Handtools Exports

Exports from Lithuania

For the third consecutive year, Lithuania recorded growth in shipments abroad of handtools, hydraulic or with a self-contained non-electric motor, which increased by 16% to X units in 2022. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 183% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, non-electric motor handtools exports surged to $X in 2022. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 187% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Russia (X units), Latvia (X units) and Norway (X units) were the main destinations of non-electric motor handtools exports from Lithuania, together comprising 80% of total exports. Germany, Kazakhstan, Estonia, Turkey and Belarus lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +287.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Latvia ($X) and Norway ($X) were the largest markets for non-electric motor handtools exported from Lithuania worldwide, with a combined 80% share of total exports. Germany, Kazakhstan, Estonia, Turkey and Belarus lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Turkey, with a CAGR of +253.5%, recorded the highest rates of growth with regard to 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 non-electric motor handtools export price stood at $X per unit in 2022, growing by 8.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 56% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Belarus ($X per unit) and Estonia ($X per unit), while the average price for exports to Turkey ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Lithuania

In 2022, the amount of handtools, hydraulic or with a self-contained non-electric motor imported into Lithuania soared to X units, jumping by 116% on the previous year's figure. In general, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electric motor handtools imports skyrocketed to $X in 2022. Overall, imports showed strong growth. The growth pace was the most rapid in 2013 with an increase of 39% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and Sweden (X units) were the main suppliers of non-electric motor handtools imports to Lithuania, together comprising 67% of total imports. The Netherlands, the United States, Estonia, Poland, Latvia, Japan and Italy lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +57.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Sweden ($X) appeared to be the largest non-electric motor handtools suppliers to Lithuania, together comprising 67% of total imports. The Netherlands, the United States, Estonia, Poland, Latvia, Japan and Italy lagged somewhat behind, together accounting for a further 30%.

In terms of the main suppliers, the Netherlands, with a CAGR of +43.5%, recorded the highest rates of growth with regard to 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 2022, the average non-electric motor handtools import price amounted to $X per unit, dropping by -39.6% against the previous year. In general, the import price recorded a deep setback. The pace of growth was the most pronounced in 2019 an increase of 19%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per unit) and China ($X per unit), while the price for Italy ($X per unit) and Japan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-8.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform