Mexico: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Mexico

In 2022, the Mexican interchangeable tool market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a deep reduction. Interchangeable tool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Interchangeable Tool Production in Mexico

In value terms, interchangeable tool production surged to $X in 2022 estimated in export price. In general, production, however, recorded a sharp reduction. Interchangeable tool production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports from Mexico

In 2022, the amount of interchangeable tools for hand tools exported from Mexico declined to X tons, waning by X% compared with 2021 figures. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, interchangeable tool exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for interchangeable tool exports from Mexico, accounting for a X% share of total exports. Moreover, interchangeable tool exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for interchangeable tools for hand tools exports from Mexico, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Germany (X% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Peru ($X per ton), while the average price for exports to Canada ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Interchangeable Tool Imports

Imports into Mexico

In 2022, supplies from abroad of interchangeable tools for hand tools increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume 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 pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, interchangeable tool imports expanded significantly to $X in 2022. The total import value 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 in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and South Korea (X tons) were the main suppliers of interchangeable tool imports to Mexico, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable tool suppliers to Mexico were the United States ($X), China ($X) and South Korea ($X), together accounting for X% of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price saw a mild contraction. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Italy ($X per ton), while the price for Canada ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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