Global Power Tool Market 2024

Power Tool Market Size

The global power tool market surged to $X in 2021, increasing by 15% against the previous year. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Power Tool Production

In value terms, power tool production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 12%. Global production peaked in 2021 and is expected to retain growth in the immediate term.

Power Tool Exports

Exports

In 2021, global power tool exports rose rapidly to X units, increasing by 13% compared with 2020. In general, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% 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 increased by +82.1% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 15%. The global exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, power tool exports soared to $X in 2021. Overall, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +90.8% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X units, which was near 67% of total exports in 2021. It was distantly followed by Germany (X units), committing a 7.1% share of total exports. Mexico (X units), the Netherlands (X units), Hungary (X units), Belgium (X units), the United States (X units), Romania (X units), Malaysia (X units) and Austria (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to power tool exports from China stood at +7.1%. At the same time, the Netherlands (+18.5%), Austria (+12.3%), Romania (+11.4%), Mexico (+9.0%), the United States (+8.0%), Germany (+5.8%), Belgium (+4.3%), Hungary (+4.1%) and Malaysia (+2.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.5% from 2012-2021. While the share of the Netherlands (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest power tool supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by Germany ($X), with a 12% share of global exports. It was followed by Mexico, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +9.3%. In the other countries, the average annual rates were as follows: Germany (+4.3% per year) and Mexico (+8.7% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, surging by 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. As a result, the export 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 suppliers, the country with the highest price was the United States ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+9.3%), while the other global leaders experienced more modest paces of growth.

Power Tool Imports

Imports

For the seventh year in a row, the global market recorded growth in overseas purchases of power tools, which increased by 29% to X units in 2021. Overall, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool imports soared to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% 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 +90.2% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the largest importer of power tools in the world, with the volume of imports resulting at X units, which was near 24% of total imports in 2021. Germany (X units) took the second position in the ranking, followed by Belgium (X units), Russia (X units), the Netherlands (X units) and France (X units). All these countries together held approx. 27% share of total imports. The UK (X units), Spain (X units), Poland (X units), India (X units), Brazil (X units), Austria (X units) and Canada (X units) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to power tool imports into the United States stood at +9.6%. At the same time, India (+22.6%), Spain (+18.1%), the Netherlands (+16.0%), Austria (+13.8%), Belgium (+12.2%), Germany (+11.0%), Poland (+10.0%), the UK (+9.7%), France (+6.2%), Canada (+4.0%), Russia (+3.6%) and Brazil (+3.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +22.6% from 2012-2021. The Netherlands (+2 p.p.) and India (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while Russia saw its share reduced by -2.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported power tools worldwide, comprising 27% of global imports. The second position in the ranking was held by Germany ($X), with a 9.6% share of global imports. It was followed by France, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +10.6%. In the other countries, the average annual rates were as follows: Germany (+6.4% per year) and France (+6.3% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, growing by 3.2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 9.2% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+4.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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