Asia-Pacific: Screwdriver Market 2024

Screwdriver Market Size in Asia-Pacific

In 2021, after three years of growth, there was significant decline in the Asia-Pacific screwdriver market, when its value decreased by -5.7% to $X. Over the period under review, consumption recorded a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Screwdriver Production in Asia-Pacific

In value terms, screwdriver production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; afterwards, it flattened through to 2021.

Screwdriver Exports

Exports in Asia-Pacific

In 2021, overseas shipments of screwdrivers were finally on the rise to reach X tons after two years of decline. Total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 160% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, screwdriver exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, recording X tons, which was near 88% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), mixing up a 9.1% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of screwdrivers. At the same time, Taiwan (Chinese) (+3.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +3.1% from 2012-2021. Taiwan (Chinese) (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.1% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest screwdriver supplier in Asia-Pacific, comprising 76% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total exports.

In China, screwdriver exports increased at an average annual rate of +4.7% over the period from 2012-2021.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 5.5% against the previous year. In general, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2016 when the export price increased by 137%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.0%).

Screwdriver Imports

Imports in Asia-Pacific

In 2021, the amount of screwdrivers imported in Asia-Pacific soared to X tons, increasing by 23% compared with 2020 figures. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, screwdriver imports expanded rapidly to $X in 2021. Total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.7% against 2014 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 18%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, Malaysia (X tons), distantly followed by Indonesia (X tons), India (X tons), Japan (X tons), Thailand (X tons), China (X tons), Taiwan (Chinese) (X tons) and Australia (X tons) represented the main importers of screwdrivers, together constituting 78% of total imports. The following importers - South Korea (X tons), Pakistan (X tons), Vietnam (X tons), Bangladesh (X tons) and Singapore (X tons) - together made up 15% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +23.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest screwdriver importing markets in Asia-Pacific were Japan ($X), China ($X) and Australia ($X), with a combined 36% share of total imports. Malaysia, South Korea, Vietnam, Indonesia, Taiwan (Chinese), Thailand, India, Singapore, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further 53%.

Malaysia, with a CAGR of +17.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, reducing by -6.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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