Eastern Asia: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Eastern Asia

In 2022, the East Asian interchangeable tool market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Interchangeable Tool Production in Eastern Asia

In value terms, interchangeable tool production rose rapidly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of interchangeable tools for hand tools, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, interchangeable tool exports declined slightly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced slightly in the following year.

Exports by Country

In 2022, China (X tons) was the major exporter of interchangeable tools for hand tools, comprising X% of total exports. South Korea (X tons) held the second position in the ranking, followed by Japan (X tons). All these countries together took approx. X% share of total exports. Taiwan (Chinese) (X tons) took a little share of total exports.

China was also the fastest-growing in terms of the interchangeable tools for hand tools exports, with a CAGR of X% from 2012 to 2022. South Korea (X%), Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest interchangeable tool supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, saw a mild descent. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Interchangeable Tool Imports

Imports in Eastern Asia

In 2022, purchases abroad of interchangeable tools for hand tools decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, interchangeable tool imports shrank to $X in 2022. Over the period under review, imports showed a mild curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons) and Japan (X tons) were the main importers of interchangeable tools for hand tools in 2022, reaching near X% and X% of total imports, respectively. South Korea (X tons) ranks next in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%). Hong Kong SAR (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported interchangeable tools for hand tools in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, interchangeable tool imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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