Downstream of Copper Enamelled Wire—2024 Handheld Power Tool Exports Up 30% YoY! [SMM Analysis]

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      According to customs data, in 2024, China's export performance of handheld power tools (HS codes: 84672100, 84672990, 84672290, 84672920, 84672910) was remarkable, with an export volume of 370.384 million units, up 30.01% YoY compared to 2023. This data highlights the robust competitiveness of China's power tools in the international market.

       Looking at the monthly export volumes, December stood out with the highest export volume of the year, reaching 37.4551 million units, up 5.8% MoM and up 45.72% YoY. From the perspective of YoY growth rate, February and October were particularly notable. February's export volume was 22.7732 million units, up 70.67% YoY, while October's export volume was 32.1345 million units, up 57.27% YoY.

           Data Source: General Administration of Customs

      By category, the export volume of all types of tools in 2024 showed varying degrees of growth. Among them, "Other Handheld Power Tools" saw the most significant growth, up 42.9% YoY, increasing from 97.1859 million units to 138.9209 million units. "Other Handheld Electric Saws" and "Handheld Electric Drills" also experienced considerable growth, up 33.8% and 32.3%, respectively. The export volume of "Handheld Electric Sanders" grew by 11.6%, while "Handheld Electric Planers" showed only a slight increase of 0.1%. Overall, the demand for power tools remained robust, with certain categories being more favoured in the international market.

           Data Source: General Administration of Customs

     China is not only the world's largest producer of power tools but also the largest exporter, with power tool exports showing diversification. In 2024, China's handheld power tools were exported to 219 countries and regions. The US, Russia, and Germany ranked as the top three importers, with import volumes of 63.6653 million units, 26.023 million units, and 22.1267 million units, accounting for 17.19%, 7.03%, and 5.97%, respectively. Among them, exports to Germany saw a YoY increase of 42.95%. Additionally, in emerging markets, Brazil and Kazakhstan showed strong growth momentum, with YoY increases of 102.25% and 122.17%, respectively, demonstrating significant market development potential.

        Data Source: General Administration of Customs

       SMM will continue to monitor the dynamics of enamelled wire end-users and promptly capture market information.