Spain: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Spain

The Spanish market for pneumatic or hydraulic hand tools skyrocketed to $X in 2021, surging by 47% against the previous year. In general, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Production of Pneumatic Or Hydraulic Hand Tools in Spain

In value terms, pneumatic or hydraulic hand tool production surged to $X in 2021 estimated in export price. Overall, production posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 71%. Pneumatic or hydraulic hand tool production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Spain

In 2021, shipments abroad of pneumatic or hydraulic hand tools was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -36.1% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by 91% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports expanded remarkably to $X in 2021. Over the period under review, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 115% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Portugal (X tons), France (X tons) and Italy (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Spain, with a combined 67% share of total exports. The Netherlands, Morocco, Germany, Vietnam, Peru, Cuba and Canada lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +107.5%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for pneumatic or hydraulic hand tools exports from Spain, comprising 43% of total exports. The second position in the ranking was taken by France ($X), with an 11% share of total exports. It was followed by Germany, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Portugal stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+14.8% per year) and Germany (+13.9% per year).

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, approximately mirroring the previous year. Overall, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pneumatic or hydraulic hand tool export price increased by +67.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 30%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Spain

In 2021, the amount of pneumatic or hydraulic hand tools imported into Spain surged to X tons, rising by 27% against 2020 figures. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +10.4% 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 +15.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest pneumatic or hydraulic hand tool supplier to Spain, with a 58% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.5% per year) and France (+16.7% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Spain, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.2% per year) and the United States (+4.7% per year).

Import Prices by Country

In 2021, the average import price for pneumatic or hydraulic hand tools amounted to $X per ton, increasing by 9.7% against the previous year. Overall, the import price, however, saw a pronounced decrease. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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