Australia: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Australia

In 2021, after three years of growth, there was significant decline in the Australian interchangeable tool market, when its value decreased by -6.6% to $X. Over the period under review, consumption recorded measured growth. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Interchangeable Tool Production in Australia

In value terms, interchangeable tool production declined significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 1,968%. Interchangeable tool production peaked at $X in 2020, and then reduced remarkably in the following year.

Interchangeable Tool Exports

Exports from Australia

Interchangeable tool exports from Australia contracted modestly to X tons in 2021, waning by -4.3% compared with 2020 figures. In general, exports continue to indicate a deep slump. The growth pace was the most rapid in 2020 with an increase of 10% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, interchangeable tool exports soared to $X in 2021. Over the period under review, exports showed a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for interchangeable tool exports from Australia, accounting for a 26% share of total exports. Moreover, interchangeable tool exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), threefold. Ghana (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand stood at -9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.5% per year) and Ghana (+0.6% per year).

In value terms, New Zealand ($X) remains the key foreign market for interchangeable tools for hand tools exports from Australia, comprising 36% of total exports. The second position in the ranking was held by the United States ($X), with a 9.3% share of total exports. It was followed by Papua New Guinea, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to New Zealand amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.7% per year) and Papua New Guinea (-15.0% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2021, increasing by 25% against the previous year. Over the period under review, the export price recorded a prominent increase. The growth pace was the most rapid in 2018 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was New Zealand ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Australia

After three years of decline, overseas purchases of interchangeable tools for hand tools increased by 130% to X tons in 2021. Overall, imports, however, saw a perceptible shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, interchangeable tool imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Sweden (X tons) and the United States (X tons) were the main suppliers of interchangeable tool imports to Australia, with a combined 64% share of total imports. These countries were followed by India, Germany, New Zealand, Mexico, Taiwan (Chinese), France and the UK, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of interchangeable tools for hand tools to Australia, comprising 36% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Sweden, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.3% per year) and Sweden (+1.7% per year).

Import Prices by Country

The average interchangeable tool import price stood at $X per ton in 2021, shrinking by -45.5% against the previous year. In general, the import price, however, posted a perceptible increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 77%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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