Eastern Europe: Power Tool Market 2024

Power Tool Market Size in Eastern Europe

The East European power tool market declined sharply to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, saw modest growth. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Power Tool Production in Eastern Europe

In value terms, power tool production declined to $X in 2023 estimated in export price. In general, production recorded a mild decrease. The growth pace was the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Power Tool Exports

Exports in Eastern Europe

In 2023, shipments abroad of power tools decreased by X% to X units, falling for the second consecutive year after two years of growth. Total exports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, power tool exports fell to $X in 2023. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the four major exporters of power tools, namely Hungary, Poland, Romania and the Czech Republic, represented more than two-thirds of total export. Russia (X units) took the next position in the ranking, followed by Belarus (X units). All these countries together held approx. X% share of total exports. Estonia (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Belarus (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Romania ($X) and Poland ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports. The Czech Republic, Estonia, Russia and Belarus lagged somewhat behind, together comprising a further X%.

Belarus, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per unit, approximately equating the previous year. Export price indicated a resilient expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, power tool export price increased by X% against 2013 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2022, and then fell slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Estonia ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Power Tool Imports

Imports in Eastern Europe

In 2023, supplies from abroad of power tools decreased by X% to X units, falling for the second year in a row after six years of growth. In general, imports, however, showed a pronounced expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, power tool imports fell to $X in 2023. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Russia represented the main importer of power tools in Eastern Europe, with the volume of imports accounting for X units, which was near X% of total imports in 2023. Poland (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (X%), the Czech Republic (X%) and Ukraine (X%). The following importers - Belarus (X units) and Romania (X units) - each accounted for an X% share of total imports.

Imports into Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Hungary (X%), Belarus (X%), Romania (X%), Poland (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. By contrast, Ukraine (X%) illustrated a downward trend over the same period. While the share of Hungary (X p.p.), Poland (X p.p.) and Belarus (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ukraine (X p.p.) and Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest power tool importing markets in Eastern Europe were Russia ($X), Poland ($X) and the Czech Republic ($X), with a combined X% share of total imports. Hungary, Romania, Ukraine and Belarus lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Hungary, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per unit, approximately mirroring the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform