Eastern Asia: Power Tool Market 2024

Power Tool Market Size in Eastern Asia

For the seventh year in a row, the East Asian power tool market recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Power Tool Production in Eastern Asia

In value terms, power tool production dropped to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2012 indices. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X, and then declined in the following year.

Power Tool Exports

Exports in Eastern Asia

In 2022, after ten years of growth, there was significant decline in overseas shipments of power tools, when their volume decreased by X% to X units. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. The volume of export peaked at X units in 2021, and then reduced in the following year.

In value terms, power tool exports fell sharply to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

In 2022, China (X units) represented the major exporter of power tools in Eastern Asia, mixing up X% of total export.

China was also the fastest-growing in terms of the power tools exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest power tool supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, 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. As a result, the export price attained the peak level of $X per unit, and then reduced slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Power Tool Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of power tools, when their volume decreased by X% to X units. In general, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2021, and then fell sharply in the following year.

In value terms, power tool imports shrank to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Japan represented the major importing country with an import of about X units, which finished at X% of total imports. South Korea (X units) took the second position in the ranking, followed by China (X units), Hong Kong SAR (X units) and Taiwan (Chinese) (X units). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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