Asia: Power Tool Market 2024

Power Tool Market Size in Asia

The Asian power tool market totaled $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Power Tool Production in Asia

In value terms, power tool production declined to $X in 2022 estimated in export price. The total production indicated a perceptible 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 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production reached the peak level of $X, and then shrank in the following year.

Power Tool Exports

Exports in Asia

After ten years of growth, shipments abroad of power tools decreased by X% to X units in 2022. Total exports indicated a strong 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. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then declined in the following year.

In value terms, power tool exports fell to $X in 2022. Total exports indicated a buoyant 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 most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, amounting to X units, which was approx. X% of total exports in 2022. Vietnam (X units) and Malaysia (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest power tool supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports.

From 2012 to 2022, 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: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while China ($X per unit) was amongst the lowest.

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

Power Tool Imports

Imports in 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. Total imports indicated a buoyant increase 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then fell in the following year.

In value terms, power tool imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, India (X units), distantly followed by Japan (X units), Thailand (X units), Turkey (X units), South Korea (X units), Singapore (X units) and China (X units) represented the largest importers of power tools, together creating X% of total imports. Malaysia (X units), Hong Kong SAR (X units), the United Arab Emirates (X units), the Philippines (X units), Iran (X units) and Indonesia (X units) took a little share of total imports.

India was also the fastest-growing in terms of the power tools imports, with a CAGR of X% from 2012 to 2022. At the same time, China (X%), the Philippines (X%), Indonesia (X%), Thailand (X%), Malaysia (X%), Japan (X%), South Korea (X%), Hong Kong SAR (X%) and Iran (X%) displayed positive paces of growth. Singapore and Turkey experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and China increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest power tool importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), together comprising X% of total imports. India, the United Arab Emirates, Turkey, Indonesia, Thailand, Malaysia, Singapore, Iran, Hong Kong SAR and the Philippines lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Asia stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, saw a perceptible contraction. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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