Japan: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Japan

The Japanese interchangeable spanner socket market rose modestly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption recorded a noticeable decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Production in Japan

In value terms, interchangeable spanner socket production expanded to $X in 2022 estimated in export price. Overall, production recorded a noticeable contraction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports from Japan

In 2022, interchangeable spanner socket exports from Japan reduced modestly to X tons, falling by X% on the previous year's figure. Overall, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, interchangeable spanner socket exports declined notably to $X in 2022. Over the period under review, exports continue to indicate a mild downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Luxembourg (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of interchangeable spanner socket exports from Japan, together accounting for X% of total exports. Saudi Arabia, the United States, Germany, Hong Kong SAR, Belgium, Vietnam, New Zealand, China, the Philippines and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X), South Korea ($X) and the United States ($X) were the largest markets for interchangeable spanner socket exported from Japan worldwide, with a combined X% share of total exports. Thailand, China, Vietnam, Belgium, Germany, Saudi Arabia, Hong Kong SAR, New Zealand, the Philippines and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Belgium, with a CAGR of X%, saw 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 spanner socket export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price 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 was the most pronounced in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Japan

In 2022, imports of interchangeable spanner sockets into Japan fell modestly to X tons, reducing by X% compared with the year before. The total import volume 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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped slightly in the following year.

In value terms, interchangeable spanner socket imports shrank to $X in 2022. Over the period under review, total imports indicated pronounced growth 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, imports increased by X% against 2020 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, and then reduced modestly in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest supplier of interchangeable spanner socket to Japan, accounting for a X% share of total imports. Moreover, interchangeable spanner socket imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of interchangeable spanner sockets to Japan, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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