U.S.: Power Tool Market 2024

Power Tool Market Size in the U.S.

In 2022, after ten years of growth, there was significant decline in the U.S. power tool market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a strong 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 2012 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Power Tool Production in the U.S.

In value terms, power tool production reduced to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Power Tool Exports

Exports from the U.S.

For the third consecutive year, the United States recorded growth in overseas shipments of power tools, which increased by X% to X units in 2022. Over the period under review, total exports indicated a prominent expansion 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. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, power tool exports expanded rapidly to $X in 2022. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Canada (X units) was the main destination for power tool exports from the United States, with a X% share of total exports. Moreover, power tool exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fivefold. The third position in this ranking was held by Ecuador (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Ecuador (X% per year).

In value terms, Canada ($X) remains the key foreign market for power tools exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Australia (X% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into the U.S.

In 2022, after five years of growth, there was significant decline in supplies from abroad of power tools, when their volume decreased by X% to X units. Over the period under review, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then reduced dramatically in the following year.

In value terms, power tool imports fell to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of power tool to the United States, accounting for a X% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), fourfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of power tools to the United States, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Mexico, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average power tool import price amounted to $X per unit, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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