Luxembourg: Power Tool Market 2024

Power Tool Market Size in Luxembourg

In 2021, the Luxembourg power tool market increased by 64% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Power Tool Production in Luxembourg

In value terms, power tool production contracted rapidly to $X in 2021 estimated in export price. In general, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 95% against the previous year. Power tool production peaked at $X in 2020, and then reduced notably in the following year.

Power Tool Exports

Exports from Luxembourg

In 2021, exports of power tools from Luxembourg contracted to X units, declining by -7.5% against 2020. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 27%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, power tool exports expanded modestly to $X in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +16.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 31% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Germany (X units) and Belgium (X units) were the main destinations of power tool exports from Luxembourg.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +42.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Belgium ($X) constituted the largest markets for power tool exported from Luxembourg worldwide, together comprising 97% of total exports.

Among the main countries of destination, France, with a CAGR of +20.1%, recorded 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, with an increase of 13% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, power tool export price decreased by -11.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 40%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Germany ($X per unit) and France ($X per unit), while the average price for exports to Belgium ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.7%), while the prices for the other major destinations experienced a decline.

Power Tool Imports

Imports into Luxembourg

In 2021, approx. X units of power tools were imported into Luxembourg; rising by 23% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 30%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, power tool imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.5% 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 +81.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 25%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X units), Germany (X units) and France (X units) were the main suppliers of power tool imports to Luxembourg.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +32.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest power tool suppliers to Luxembourg were Belgium ($X), Germany ($X) and France ($X), with a combined 95% share of total imports. These countries were followed by the Netherlands, China, Italy and Hungary, which together accounted for a further 2.8%.

In terms of the main suppliers, the Netherlands, with a CAGR of +33.8%, saw 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

The average power tool import price stood at $X per unit in 2021, reducing by -5% against the previous year. In general, the import price, however, posted buoyant growth. The growth pace was the most rapid in 2017 an increase of 58% against the previous year. The import price peaked at $X per unit in 2020, and then shrank in the following year.

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 Italy ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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