Saudi Arabia: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Saudi Arabia

In 2022, after four years of growth, there was decline in the Saudi interchangeable tool market, when its value decreased by less than X% to $X. Overall, 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 increased by X% against 2017 indices. Interchangeable tool consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports from Saudi Arabia

In 2022, overseas shipments of interchangeable tools for hand tools decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, interchangeable tool exports rose to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons), the United Arab Emirates (X tons) and the United States (X tons) were the main destinations of interchangeable tool exports from Saudi Arabia, together comprising X% of total exports. Oman, Kuwait, Germany and China lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United Arab Emirates ($X) remains the key foreign market for interchangeable tools for hand tools exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and the United States (X% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, 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 decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Bahrain ($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 Algeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Interchangeable Tool Imports

Imports into Saudi Arabia

In 2022, purchases abroad of interchangeable tools for hand tools decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, interchangeable tool imports expanded to $X in 2022. The total import value 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 growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable tool to Saudi Arabia, accounting for a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of interchangeable tools for hand tools to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

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

Import Prices by Country

In 2022, the average interchangeable tool import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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