Northern America: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Northern America

In 2022, the North American interchangeable tool market decreased by X% to $X.3B, falling for the third consecutive year after four years of growth. The total consumption indicated a moderate increase 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, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X.3B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Interchangeable Tool Production in Northern America

In value terms, interchangeable tool production expanded to $X.1B in 2022 estimated in export price. The total production indicated a measured increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X.3B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports in Northern America

Interchangeable tool exports declined markedly to X tons in 2022, with a decrease of X% against the year before. Over the period under review, exports saw a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, interchangeable tool exports stood at $X in 2022. In general, exports saw a mild reduction. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Canada (X tons) was the largest exporter of interchangeable tools for hand tools in Northern America, constituting X% of total export.

Canada was also the fastest-growing in terms of the interchangeable tools for hand tools exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) also remains the largest interchangeable tool supplier in Northern America.

In Canada, interchangeable tool exports contracted by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a notable expansion 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. Based on 2022 figures, interchangeable tool export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to X% per year.

Interchangeable Tool Imports

Imports in Northern America

In 2022, purchases abroad of interchangeable tools for hand tools decreased by X% to X tons, falling for the fourth year in a row after two years of growth. The total import 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 was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, interchangeable tool imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main importer of interchangeable tools for hand tools, achieving X% of total imports. It was distantly followed by Canada (X tons), comprising a X% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of interchangeable tools for hand tools. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. While the share of Canada (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported interchangeable tools for hand tools in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

In the United States, interchangeable tool imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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