Venezuela: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Venezuela

In 2021, the Venezuelan market for in-hand motor grinders, sanders and planers increased by 293% to $X, rising for the second consecutive year after seven years of decline. Overall, consumption, however, faced a sharp descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Venezuela

In 2021, shipments abroad of in-hand motor grinders, sanders and planers decreased by -58.8% to X units, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 296% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers fell markedly to $X in 2021. In general, exports faced a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by 557% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Peru (X units), Panama (X units) and Aruba (X units) were the main destinations of exports of in-hand motor grinders, sanders and planers from Venezuela, with a combined 79% share of total exports. These countries were followed by Ecuador and Saint Vincent and the Grenadines, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from Venezuela were Peru ($X), Panama ($X) and Ecuador ($X), with a combined 83% share of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +14.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average export price for in-hand motor grinders, sanders and planers amounted to $X per unit, which is down by -9.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 184% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 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, the country with the highest price was Ecuador ($X per unit), while the average price for exports to the Dominican Republic ($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 Ecuador (+2.4%), while the prices for the other major destinations experienced a decline.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Venezuela

In 2021, overseas purchases of in-hand motor grinders, sanders and planers increased by 422% to X units, rising for the third year in a row after six years of decline. Overall, imports, however, continue to indicate a dramatic descent. Over the period under review, imports of attained the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of in-hand motor grinders, sanders and planers soared to $X in 2021. In general, imports, however, showed a dramatic descent. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electromechanical tools for working in the hand, with self-contained electric motor supplier to Venezuela, accounting for a 88% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-27.3% per year) and the United States (-39.2% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to Venezuela, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by the United States, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-21.3% per year) and the United States (-35.4% per year).

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, falling by -41.1% against the previous year. Over the period under review, the import price recorded a deep setback. The pace of growth appeared the most rapid in 2015 when the average import price increased by 29%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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