Belgium: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Belgium

The Belgian interchangeable spanner socket market expanded to $X in 2022, surging by 2.2% against the previous year. Overall, consumption, however, recorded prominent growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Interchangeable Spanner Socket Production in Belgium

In value terms, interchangeable spanner socket production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 122% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Belgium

In 2022, after two years of growth, there was significant decline in overseas shipments of interchangeable spanner sockets, when their volume decreased by -55.8% to X tons. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable spanner socket exports declined notably to $X in 2022. Overall, exports, however, recorded modest growth. The growth pace was the most rapid in 2020 with an increase of 23% against the previous year. The exports peaked at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Sweden (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of interchangeable spanner socket exports from Belgium, together accounting for 49% of total exports. Poland, Italy, the UK, Germany, Spain, Hungary, Australia, Austria, Luxembourg and Turkey lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +41.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for interchangeable spanner sockets exports from Belgium, comprising 23% of total exports. The second position in the ranking was held by France ($X), with an 11% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-8.5% per year) and the Netherlands (-4.1% per year).

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, increasing by 46% against the previous year. In general, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Australia ($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 Germany (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in purchases abroad of interchangeable spanner sockets, when their volume decreased by -31.7% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, interchangeable spanner socket imports shrank rapidly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports attained the peak of $X, and then reduced markedly in the following year.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and the Netherlands (X tons) were the main suppliers of interchangeable spanner socket imports to Belgium, together accounting for 71% of total imports. Germany, France, Denmark and Sweden lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +102.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable spanner socket suppliers to Belgium were Taiwan (Chinese) ($X), Sweden ($X) and France ($X), together accounting for 50% of total imports. China, Germany, the Netherlands and Denmark lagged somewhat behind, together accounting for a further 42%.

Denmark, with a CAGR of +81.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, growing by 4.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 37% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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