Uzbekistan: Power Tool Market 2024

Power Tool Market Size in Uzbekistan

After four years of growth, the Uzbek power tool market decreased by -32.6% to $X in 2021. Overall, consumption showed a pronounced downturn. As a result, consumption attained the peak level of $X, and then plummeted in the following year.

Power Tool Production in Uzbekistan

In value terms, power tool production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 76% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Power Tool Exports

Exports from Uzbekistan

In 2021, after two years of growth, there was significant decline in overseas shipments of power tools, when their volume decreased by -82.3% to X units. Over the period under review, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 740%. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, power tool exports contracted notably to $X in 2021. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 168%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units), Ukraine (X units) and Kyrgyzstan (X units) were the main destinations of power tool exports from Uzbekistan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan (with a CAGR of +52.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for power tools exports from Uzbekistan, comprising 70% of total exports. The second position in the ranking was held by Ukraine ($X), with an 11% share of total exports. It was followed by Russia, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+45.7% per year) and Russia (-16.0% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, jumping by 250% against the previous year. Overall, the export price enjoyed a significant increase. The pace of growth was the most pronounced in 2018 an increase of 4,441% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat 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 China ($X per unit), while the average price for exports to Kyrgyzstan ($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 China (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Uzbekistan

In 2021, purchases abroad of power tools decreased by -62% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, showed temperate growth. The most prominent rate of growth was recorded in 2018 with an increase of 95%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, power tool imports soared to $X in 2021. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 118% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X units) was the main power tool supplier to Uzbekistan, with a 170% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Kazakhstan (X units), more than tenfold.

From 2017 to 2021, the average annual growth rate of volume from China stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+75.0% per year) and Russia (+22.1% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Uzbekistan, comprising 79% of total imports. The second position in the ranking was held by Kazakhstan ($X), with an 8.7% share of total imports.

From 2017 to 2021, the average annual growth rate of value from China totaled +97.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+101.7% per year) and Russia (+32.2% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, jumping by 365% against the previous year. Over the period under review, the import price recorded a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by China (+63.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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