Russian Federation: Power Tool Market 2024

Power Tool Market Size in the Russian Federation

In 2021, the Russian power tool market increased by 29% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Power tool consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Power Tool Production in the Russian Federation

In value terms, power tool production surged to $X in 2021 estimated in export price. In general, production, however, showed a deep reduction. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Power Tool Exports

Exports from the Russian Federation

In 2021, shipments abroad of power tools increased by 33% to X units, rising for the fourth consecutive year after four years of decline. Overall, exports, however, showed a slight curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 71%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, power tool exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Belarus (X units) and Kazakhstan (X units) were the main destinations of power tool exports from Russia, with a combined 86% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +22.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belarus ($X) and Kazakhstan ($X) were the largest markets for power tool exported from Russia worldwide, with a combined 83% share of total exports.

Belarus, with a CAGR of +33.7%, 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

The average power tool export price stood at $X per unit in 2021, approximately reflecting the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 -24.9% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 57%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Ukraine ($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 Belarus (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into the Russian Federation

For the third year in a row, Russia recorded growth in supplies from abroad of power tools, which increased by 23% to X units in 2021. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% 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 +141.7% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 64%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 92% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Russia, with a 87% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Romania (X units), more than tenfold. The third position in this ranking was held by Belarus (X units), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+23.3% per year) and Belarus (-18.5% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Russia, comprising 75% of total imports. The second position in the ranking was held by Romania ($X), with a 6.7% share of total imports. It was followed by Germany, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+30.3% per year) and Germany (-1.8% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, rising by 6.1% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for Belarus ($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 (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :