Which Country Exports the Most Interchangeable Tools in the World?
Cutlery, Hand Tools And General Hardware May 28, 2018
In 2016, the amount of interchangeable tool exported worldwide stood at 767K tonnes, reducing by -2.9% against the previous year level. Overall, it indicated a significant expansion from 2007 to 2016: the total exports volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2011, an increase of 16% against the previous year level. Over the period under review, global interchangeable tool exports reached its maximum volume of 791K tonnes in 2015, falling back in the following year.
In value terms, interchangeable tool exports amounted to $20B in 2016. The total export value increased at an average annual rate of +2.1% from 2007 to 2016; however, the trend pattern indicated some noticeable fluctuations over the period under review. Over the period under review, global interchangeable tool exports attained its maximum level of $23B in 2014; however, from 2015 to 2016, it failed to regain its strength.
Top Interchangeable Tool Exporting Countries in the World
1. Germany (3.9 billion USD)
2. China (2.7 billion USD)
3. Japan (2.1 billion USD)
4. South Korea (1.4 billion USD)
5. Italy (0.9 billion USD)
6. France (0.5 billion USD)
7. Spain (0.4 billion USD)
8. Austria (0.4 billion USD)
Interchangeable Tool Exports By Country
In 2016, China (242K tonnes) was the main exporter for interchangeable tool, comprising 32% of total exports. Germany (100K tonnes) held the second position in the ranking, followed by South Korea (100K tonnes), Japan (68K tonnes), and Italy (37K tonnes). All these countries together held near 40% share of total exports. Spain (33K tonnes), Austria (14K tonnes), and France (13K tonnes) followed a long way behind this figure.
China was also the fastest growing in terms of the interchangeable tool exports, with a CAGR of +11.5% from 2007 to 2016. At the same time, South Korea (+6.0%), Germany (+3.7%), France (+2.8%), Austria (+1.2%), and Spain (+1.1%) displayed positive paces of growth. Italy experienced a relatively flat trend pattern. By contrast, Japan (-1.4%) illustrated a downward trend over the same period. From 2007 to 2016, the share of Germany, South Korea, and China decreased by -3.6%, -5.3%, and -19.7% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Germany ($3.9B), China ($2.7B) and Japan ($2.1B) appeared as the countries with the highest levels of exports in 2016, with a combined 44% share of global exports.
China (+14.0% per year) had the highest growth rate of interchangeable tool exports, in terms of the main exporting countries, over the last 9 years, while the other global leaders experienced more modest paces of growth.
Interchangeable Tool Export Prices By Country
In 2016, the average export price for interchangeable tool amounted to $26 per kg, standing approx. at the previous year level. In general, interchangeable tool export price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2008, an increase of 15% y-o-y. In that year, average interchangeable tool export price attained its maximum level of $34 per kg. From 2009 to 2016, growth of average interchangeable tool export price failed to regain its strength.
There were significant differences in the average export prices amongst major exporting countries. In 2016, the country with the highest export prices was Germany ($39 per kg), while China ($11 per kg) was among the lowest.
From 2007 to 2016, the most notable growth rate of interchangeable tool export prices was attained by Japan (+2.7% per year), while the other global leaders experienced more modest paces of growth.
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- interchangeable tool market share
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- interchangeable tool industry
- interchangeable tool sales
- interchangeable tool import
- interchangeable tool export
- interchangeable tool market forecast
- interchangeable tool price forecast
- key interchangeable tool producers
All data provided in this article covers the following product: HS Code 8207 - Tools, interchangeable; for hand tools, whether or not power-operated, or for machine tools (pressing, stamping, punching, drilling etc), including dies for drawing or extruding metal, and rock drilling or earth boring tools.
Source: World: Interchangeable Tools For Hand Tools - Market Report. Analysis and Forecast to 2025
