Singapore: Power Tool Market 2025

Power Tool Market Size in Singapore

The Singaporean power tool market surged to $X in 2021, increasing by 150% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Power Tool Exports

Exports from Singapore

In 2021, overseas shipments of power tools were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 58% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, power tool exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 54% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for power tool exports from Singapore, with a 38% share of total exports. Moreover, power tool exports to Germany exceeded the volume sent to the second major destination, Indonesia (X units), fourfold. The United States (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +94.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-16.7% per year) and the United States (+84.1% per year).

In value terms, Germany ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest markets for power tool exported from Singapore worldwide, together accounting for 51% of total exports. Malaysia, the Philippines, Indonesia, Hong Kong SAR, Thailand and Hungary lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Hungary, with a CAGR of +137.3%, saw 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, picking up by 2.8% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +9.1% 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 increased by +49.2% against 2018 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 39%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

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 Hong Kong SAR ($X per unit), while the average price for exports to Indonesia ($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 Malaysia (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Singapore

In 2021, supplies from abroad of power tools increased by 154% to X units for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, power tool imports soared to $X in 2021. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by 25%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Singapore, with a 15% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), twofold. Japan (X units) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.5% per year) and Japan (-0.5% per year).

In value terms, Malaysia ($X), China ($X) and Japan ($X) constituted the largest power tool suppliers to Singapore, together accounting for 70% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of -6.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, waning by -51.3% against the previous year. Overall, the import price recorded a abrupt setback. The growth pace was the most rapid in 2020 an increase of 22%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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