NEW YORK, March 09, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'World – Power Tools - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
Power Tool Market Size
The global power tool market amounted to $X in 2021, picking up by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the global market reached the maximum level in 2021 and is likely to see steady growth in years to come. REQUEST FREE DATA
Power Tool Production
In value terms, power tool production stood at $X in 2021 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% year-to-year. Global production peaked in 2021 and is expected to retain growth in years to come. REQUEST FREE DATA
Production By Country
The country with the largest volume of power tool production was China (X units), accounting for X% of total volume. Moreover, power tool production in China exceeded the figures recorded by the second-largest producer, Mexico (X units), more than tenfold. The third position in this ranking was taken by Russia (X units), with a X% share. REQUEST FREE DATA
From 2007 to 2021, the average annual growth rate of volume in China stood at +X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (-X% per year) and Russia (+X% per year).
Power Tool Exports
Exports
Global power tool exports were estimated at X units in 2021, with an increase of X% against 2019 figures. Over the period under review, total exports indicated a measured expansion from 2007 to 2021: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, global exports hit record highs in 2021 and are expected to retain growth in years to come.
In value terms, power tool exports expanded markedly to $X in 2021. Overall, total exports indicated a perceptible expansion from 2007 to 2021: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Global exports peaked in 2021 and are likely to see steady growth in the near future.
Exports by Country
China dominates power tool export structure, resulting at X units, which was near X% of total exports in 2021. It was distantly followed by Germany (X units), committing a X% share of total exports. Mexico (X units), the Netherlands (X units), Hungary (X units), Malaysia (X units) and Belgium (X units) recorded a relatively small share of total exports.
From 2007 to 2021, average annual rates of growth with regard to power tool exports from China stood at +X%. At the same time, the Netherlands (+X%), Malaysia (+X%) and Hungary (+X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2021. Mexico experienced a relatively flat trend pattern. By contrast, Belgium (-X%) and Germany (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and the Netherlands (+X p.p.) increased significantly in terms of the global exports from 2007-2021, the share of Belgium (-X p.p.), Mexico (-X p.p.) and Germany (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) remains the largest power tool supplier worldwide, comprising X% of global exports. Germany ($X), with a X% share of global exports, took the second position in the ranking. It was followed by Mexico, with a X% share.
From 2007 to 2021, the average annual rate of growth in terms of value in China totaled +X%. In the other countries, the average annual rates were as follows: Germany (-X% per year) and Mexico (+X% per year).
Export Prices by Country
The average power tool export price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% year-to-year. As a result, export price attained the peak level of $X per unit. from 2009 to 2021, the growth in terms of the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while China ($X per unit) was amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced mixed trends in the export price figures.
Power Tool Imports
Imports
For the eighth consecutive year, the global market recorded growth in overseas purchases of power tools, which increased by X% to X units in 2021. Over the period under review, total imports indicated a noticeable increase from 2007 to 2021: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2011 indices. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Global imports peaked in 2021 and are expected to retain growth in the near future.
In value terms, power tool imports rose significantly to $X in 2021. Overall, total imports indicated a temperate increase from 2007 to 2021: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, global imports hit record highs in 2021 and are expected to retain growth in the near future.
Imports by Country
In 2021, the U.S. (X units) represented the major importer of power tools, mixing up X% of total imports. Germany (X units) held a X% share (based on tonnes) of total imports, which put it in second place, followed by France (X%) and Russia (X%). The UK (X units), the Netherlands (X units), Canada (X units), Belgium (X units), Poland (X units), Spain (X units), Mexico (X units), Australia (X units) and Brazil (X units) saw a relatively small share of total imports.
From 2007 to 2021, average annual rates of growth with regard to power tool imports into the U.S. stood at +X%. At the same time, Brazil (+X%), Mexico (+X%), Canada (+X%), Russia (+X%), Australia (+X%), Poland (+X%), the Netherlands (+X%), Germany (+X%) and France (+X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2021. The UK, Spain and Belgium experienced a relatively flat trend pattern. From 2007 to 2021, the share of the U.S. increased by +X% percentage points, while Belgium (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($X) constitutes the largest market for imported power tools worldwide, comprising X% of global imports. Germany ($X), with a X% share of global imports, was the second in the ranking. It was followed by France, with a X% share.
From 2007 to 2021, the average annual growth rate of value in the U.S. totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and France (+X% per year).
Import Prices by Country
In 2021, the average power tool import price amounted to $X per unit, increasing by X% against the previous year. Over the period from 2007 to 2021, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination; the country with the highest price was Australia ($X per unit), while Brazil ($X per unit) was amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Australia, while the other global leaders experienced more modest paces of growth.
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Companies Mentioned in the Report
Chervon, Bosch, Husqvarna, Mitsubishi, Milwaukee Electric Tool Co., RYOBI, Empire Level, Hoover, Dirt Devil, Oreck, Stiletto Tools, Hart Tools, Homelife, VAX, AEG, Yukiwa International Inc., Kku Inc., Transcontainer Ltd., Kiso Power Tool Mfg. Co., Yamabiko Corporation, Makita, Apex Tool Group, Koki Holdings, Stihl, Techtronic, Stanley Black & Decker, 3M, Panasonic, PENTA Electrical Safety Products LLC, Emerson, Fein, Atlas Copco, Apex Tool Group, Altendorf GmbH, Andreas Stihl AG & Company KG, Chang Type Industrial Co., Gray Tools, Griffon Corporation, King Dick Tools, Hilti, Ideal Industries, Lee Valley Tools, Mafell, OLFA, Positec, Sandvik, TTI, Werner Co., Sortimo, TTS Tooltechnic Systems
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
Sources
World - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
Northern America - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
Asia-Pacific - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
EU - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
Australia and Oceania - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
