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Colombia - Interchangeable Tools For Hand Tools - Market Analysis, Forecast, Size, Trends and Insights
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Colombia: Interchangeable Tool Market Overview 2021

Interchangeable Tool Market Size in Colombia

The Colombian interchangeable tool market expanded significantly to $X in 2019, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a measured expansion. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. As a result, consumption reached the peak level of $X. From 2012 to 2019, the growth of the market failed to regain the momentum.

Interchangeable Tool Exports

Exports from Colombia

In 2019, shipments abroad of interchangeable tools for hand tools increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Over the period under review, exports reached the maximum at X units in 2015; however, from 2016 to 2019, exports stood at a somewhat lower figure.

In value terms, interchangeable tool exports rose notably to $X in 2019. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Over the period under review, exports hit record highs at $X in 2015; however, from 2016 to 2019, exports remained at a lower figure.

Exports by Country

The U.S. (X units), Ecuador (X units) and Peru (X units) were the main destinations of interchangeable tool exports from Colombia, together comprising X% of total exports. These countries were followed by Panama, Mexico, Sweden and Brazil, which together accounted for a further X 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable tool exported from Colombia were the U.S. ($X), Ecuador ($X) and Mexico ($X), together comprising X% of total exports. These countries were followed by Peru, Brazil, Sweden and Panama, which together accounted for a further X terms of the main countries of destination, Brazil recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average interchangeable tool export price stood at $X per unit in 2019, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 an increase of X% year-to-year. The export price peaked at $X per unit in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was Mexico ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Mexico, while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Colombia

After two years of growth, purchases abroad of interchangeable tools for hand tools decreased by -X% to X units in 2019. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Imports peaked at X units in 2014; however, from 2015 to 2019, imports remained at a lower figure.

In value terms, interchangeable tool imports soared to $X in 2019. Over the period under review, imports, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. As a result, imports reached the peak of $X. From 2012 to 2019, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2019, China (X units) constituted the largest interchangeable tool supplier to Colombia, with a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, the U.S. (X units), threefold. The third position in this ranking was occupied by India (X units), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (-X% per year) and India (+X% per year).

In value terms, the U.S. ($X), China ($X) and India ($X) appeared to be the largest interchangeable tool suppliers to Colombia, together comprising X% of total imports.

India saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average interchangeable tool import price stood at $X per unit in 2019, jumping by X% against the previous year. In general, import price indicated a mild increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per unit in 2011; however, from 2012 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for interchangeable tools for hand tools in the world?
+
China (534M units) constituted the country with the largest volume of interchangeable tool consumption, comprising approx. 27% of total volume. Moreover, interchangeable tool consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (257M units), twofold. Germany (150M units) ranked third in terms of total consumption with a 7.6% share.
What are the largest producers of interchangeable tools for hand tools in the world?
+
China (771M units) constituted the country with the largest volume of interchangeable tool production, comprising approx. 39% of total volume. Moreover, interchangeable tool production in China exceeded the figures recorded by the second-largest producer, the U.S. (202M units), fourfold. The third position in this ranking was occupied by Japan (191M units), with a 9.5% share.
What are the leading suppliers of interchangeable tools for hand tools to Colombia?
+
In value terms, the largest interchangeable tool suppliers to Colombia were the U.S. ($18M), China ($9.6M) and India ($3.4M), together accounting for 62% of total imports.
What are the leading importers of interchangeable tools for hand tools from Colombia?
+
In value terms, the U.S. ($800K), Ecuador ($777K) and Mexico ($559K) were the largest markets for interchangeable tool exported from Colombia worldwide, together accounting for 47% of total exports. Peru, Brazil, Sweden and Panama lagged somewhat behind, together comprising a further 13%.
What is the average export price for interchangeable tools for hand tools in Colombia?
+
In 2019, the average interchangeable tool export price amounted to $26 per unit, increasing by 7.2% against the previous year.
What is the average import price for interchangeable tools for hand tools in Colombia?
+
In 2019, the average interchangeable tool import price amounted to $24 per unit, rising by 21% against the previous year.

Product coverage:
• Prodcom 25734014 - Tapping tools for working metal
• Prodcom 25734016 - Threading tools for working metal
• Prodcom 25734019 - Tapping or threading tools (excluding work and tool holders for machines or hand tools, for working metal)
• Prodcom 25734023 - Drilling tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
• Prodcom 25734025 - Masonry drills with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
• Prodcom 25734027 - Drilling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734031 - Drilling tools with working part of high speed steel, for working metal excluding work and tool holders for machines or hand tools - for rock drilling
• Prodcom 25734033 - Drilling tools with working part of materials other than diamond, agglomerated diamond or sintered metal carbide, f or working metal excluding with working part of high speed steel
• Prodcom 25734035 - Drilling tools (excluding work and tool holders for machines or hand tools, with working part of diamond or agglomerated diamond, for rock drilling, masonry drills, for working metal)
• Prodcom 25734037 - Boring or broaching tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for earth boring)
• Prodcom 25734044 - Boring tools for working metal, with working part of materials other than diamond or agglomerated diamond
• Prodcom 25734045 - Boring or broaching tools (excluding work and tool holders for machines or hand tools, with diamond or agglomerated diamond working parts, for working metal, for earth boring)
• Prodcom 25734048 - Broaching tools for working metal, with working part of materials other than diamond or agglomerated diamond
• Prodcom 25734050 - Milling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734061 - Shank type milling tools for working metal (excluding with working part of sintered metal carbide)
• Prodcom 25734065 -
• Prodcom 25734067 -
• Prodcom 25734069 - Milling tools (excluding for working metal)
• Prodcom 25734071 - Turning tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734074 - Turning tools for working metal, with working part of materials other than cermets
• Prodcom 25734079 - Turning tools (excluding work and tool holders for machines or hand tools, for working metal)
• Prodcom 25734081 - Other interchangeable tools of CN .82.07 with working part of diamond
• Prodcom 25734083 - Screwdriver bits with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25734085 - Gear-cutting tools with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25734087 - Interchangeable hand tools with working part of sintered metal carbide excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734089 - Interchangeable tools in other materials
• Prodcom 25736013 - Rock drilling or earth boring tools with working part of cermets
• Prodcom 25736018 - Rock-drilling or earth-boring tools, interchangeable, and parts therefor, with working parts of materials other than sintered metal carbide or cermets
• Prodcom 25736023 - Dies for drawing or extruding metal, with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25736024 - Dies for drawing or extruding metal (excluding unmounted plates, sticks, tips, rods, pellets, rings, etc. of sintered metal carbides or cermets)
• Prodcom 25736033 - Pressing, stamping or punching tools for working metal (excluding work and tool holders for machines or hand tools)
• Prodcom 25736039 - Pressing, stamping or punching tools (excluding work and tool holders for machines or hand tools, for working metal)

This report provides an in-depth analysis of the interchangeable tool market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Colombia

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Colombia
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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