Europe: Power Tool Market 2024

Power Tool Market Size in Europe

The Europe power tool market contracted rapidly to $X in 2023, reducing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Power Tool Production in Europe

In value terms, power tool production declined notably to $X in 2023 estimated in export price. In general, production showed a dramatic decline. The pace of growth appeared the most rapid in 2022 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Power Tool Exports

Exports in Europe

In 2023, overseas shipments of power tools decreased by X% to X units, falling for the second consecutive year after six years of growth. Total exports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. 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 pace of growth was the most pronounced in 2020 when exports increased by X%. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, power tool exports contracted to $X in 2023. Total exports indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. 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 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Germany (X units), distantly followed by the Netherlands (X units), Belgium (X units), Hungary (X units), Austria (X units), Spain (X units), Poland (X units) and Romania (X units) represented the main exporters of power tools, together achieving X% of total exports. The following exporters - the Czech Republic (X units), France (X units), the UK (X units), Russia (X units) and Sweden (X units) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest power tool supplier in Europe, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Germany amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Austria (X% per year) and Belgium (X% per year).

Export Prices by Country

The export price in Europe stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2023 and is expected to retain growth in the immediate term.

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

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

Power Tool Imports

Imports in Europe

In 2023, supplies from abroad of power tools decreased by X% to X units, falling for the second year in a row after ten years of growth. In general, imports, however, recorded a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, power tool imports dropped remarkably to $X in 2023. Total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units) and Russia (X units) represented the key importers of power tools in 2023, amounting to approx. X% and X% of total imports, respectively. The Netherlands (X units) ranks next in terms of the total imports with an X% share, followed by France (X%), the UK (X%), Belgium (X%), Poland (X%) and Spain (X%). Austria (X units), Italy (X units), Hungary (X units), the Czech Republic (X units) and Sweden (X units) took a relatively small share of total imports.

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

In value terms, Germany ($X) constitutes the largest market for imported power tools in Europe, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

In Germany, power tool imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: France (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2023, the import price in Europe amounted to $X per unit, rising by X% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Russia ($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