Australia and Oceania: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Australia and Oceania

In 2022, the interchangeable spanner socket market in Australia and Oceania increased by 21% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +71.9% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Interchangeable Spanner Socket Production in Australia and Oceania

In value terms, interchangeable spanner socket production fell remarkably to $X in 2022 estimated in export price. In general, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 10,343%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports in Australia and Oceania

In 2022, interchangeable spanner socket exports in Australia and Oceania soared to X tons, increasing by 122% on 2021. Overall, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable spanner socket exports skyrocketed to $X in 2022. Over the period under review, exports recorded a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia prevails in exports structure, recording X tons, which was approx. 92% of total exports in 2022. It was distantly followed by New Zealand (X tons), constituting a 5.7% share of total exports.

Australia was also the fastest-growing in terms of the interchangeable spanner sockets exports, with a CAGR of +8.8% from 2012 to 2022. At the same time, New Zealand (+1.4%) displayed positive paces of growth. While the share of Australia (+6.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-4.9 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest interchangeable spanner socket supplier in Australia and Oceania, comprising 93% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 5.7% share of total exports.

In Australia, interchangeable spanner socket exports expanded at an average annual rate of +10.3% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, declining by -20% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, interchangeable spanner socket export price increased by +5.9% against 2020 indices. The growth pace was the most rapid in 2018 when the export price increased by 46%. The level of export peaked at $X per ton in 2021, and then shrank sharply in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+9.6%).

Interchangeable Spanner Socket Imports

Imports in Australia and Oceania

In 2022, overseas purchases of interchangeable spanner sockets increased by 26% to X tons, rising for the second consecutive year after three years of decline. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 +76.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, interchangeable spanner socket imports soared to $X in 2022. In general, imports saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Australia prevails in imports structure, resulting at X tons, which was near 87% of total imports in 2022. It was distantly followed by New Zealand (X tons), making up a 9.5% share of total imports.

Australia was also the fastest-growing in terms of the interchangeable spanner sockets imports, with a CAGR of +3.5% from 2012 to 2022. New Zealand experienced a relatively flat trend pattern. While the share of Australia (+5.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of New Zealand (-4.4 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported interchangeable spanner sockets in Australia and Oceania, comprising 88% of total imports. The second position in the ranking was held by New Zealand ($X), with a 9.6% share of total imports.

In Australia, interchangeable spanner socket imports increased at an average annual rate of +5.4% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, picking up by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2018 an increase of 34% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.9%).

Source: IndexBox Platform

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