Thailand: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Thailand

For the third year in a row, the Thai interchangeable spanner socket market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption recorded a relatively flat trend pattern. Interchangeable spanner socket consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of interchangeable spanner sockets, when their volume decreased by X% to X tons. In general, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, interchangeable spanner socket exports shrank significantly to $X in 2022. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Lao People's Democratic Republic (X tons), Myanmar (X tons) and Singapore (X tons) were the main destinations of interchangeable spanner socket exports from Thailand, together accounting for X% of total exports.

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

In value terms, the largest markets for interchangeable spanner socket exported from Thailand were Lao People's Democratic Republic ($X), Myanmar ($X) and Singapore ($X), with a combined X% share of total exports.

Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination 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, rising by X% against the previous year. Over the period under review, the export price, however, saw a perceptible downturn. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Thailand

In 2022, the amount of interchangeable spanner sockets imported into Thailand rose modestly to X tons, with an increase of X% against 2021. Overall, total imports indicated a perceptible 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 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, interchangeable spanner socket imports reached $X in 2022. Over the period under review, imports, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest interchangeable spanner socket supplier to Thailand, accounting for a X% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

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

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the largest interchangeable spanner socket suppliers to Thailand, with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, approximately equating the previous year. In general, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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