Report Update Jan 1, 2025

Venezuela - Power Tools - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Power Tool Market 2025

Power Tool Market Size in Venezuela

In 2021, the Venezuelan power tool market increased by 253% to $X, rising for the third year in a row after six years of decline. In general, consumption, however, saw a dramatic decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Power Tool Exports

Exports from Venezuela

In 2021, overseas shipments of power tools decreased by -12.5% to X units, falling for the third year in a row after three years of growth. Over the period under review, exports recorded a deep contraction. The growth pace was the most rapid in 2016 when exports increased by 122% against the previous year. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, power tool exports shrank remarkably to $X in 2021. In general, exports faced a abrupt descent. The pace of growth was the most pronounced in 2014 when exports increased by 265%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Chile (X units), the United States (X units) and Peru (X units) were the main destinations of power tool exports from Venezuela, with a combined 49% 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 Chile (with a CAGR of +19.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for power tools exports from Venezuela, comprising 38% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 13% share of total exports. It was followed by the Dominican Republic, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-14.5% per year) and the Dominican Republic (+1.7% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, shrinking by -22.7% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 82%. As a result, the export price attained 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, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Chile ($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 the Dominican Republic (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Venezuela

In 2021, overseas purchases of power tools increased by 276% to X units, rising for the third consecutive year after six years of decline. In general, imports, however, recorded a sharp reduction. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports, however, recorded a significant decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main power tool supplier to Venezuela, accounting for a 92% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. Austria (X units) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-23.1% per year) and Austria (-12.3% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Venezuela, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Austria, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-23.0% per year) and Austria (-9.2% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, waning by -17.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 37%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Brazil ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for power tools in the world?

The countries with the highest volumes of power tool consumption in 2020 were China, United States and Russia, together comprising 47% of global consumption. These countries were followed by Japan, Germany, France, the UK, Mexico, Canada, Brazil, Thailand, Australia and Italy, which together accounted for a further 27%.

What are the largest producers of power tools in the world?

China remains the largest power tool producing country worldwide, comprising approx. 76% of total volume. Moreover, power tool production in China exceeded the figures recorded by the second-largest producer, Mexico, more than tenfold. The third position in this ranking was occupied by Russia, with a 3.6% share.

What are the leading suppliers of power tools to Venezuela?

In value terms, China constituted the largest supplier of power tool to Venezuela, comprising 70% of total imports. The second position in the ranking was occupied by United States, with a 29% share of total imports.

What is the average export price for power tools in Venezuela?

The average power tool export price stood at $68 per unit in 2020, falling by -51.8% against the previous year.

What is the average import price for power tools in Venezuela?

In 2020, the average power tool import price amounted to $89 per unit, growing by 8.9% against the previous year.

This report provides an in-depth analysis of the power tool market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28241113 - Electromechanical hand drills operated without an external source of power
Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
Prodcom 28241123 - Electromechanical chainsaws
Prodcom 28241125 - Electromechanical circular saws
Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
Prodcom 28241133 -
Prodcom 28241135 -
Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
Prodcom 28241190 -

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024