Canada: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Canada

In 2022, the Canadian interchangeable spanner socket market increased by 28% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Interchangeable spanner socket consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Production in Canada

In value terms, interchangeable spanner socket production soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable descent. Interchangeable spanner socket production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Canada

After two years of decline, overseas shipments of interchangeable spanner sockets increased by 25% to X tons in 2022. Overall, exports, however, recorded a mild decline. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, interchangeable spanner socket exports shrank modestly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 20%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for interchangeable spanner socket exports from Canada, with a 69% share of total exports. Moreover, interchangeable spanner socket exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+19.5% per year) and Germany (+11.9% per year).

In value terms, the United States ($X) remains the key foreign market for interchangeable spanner sockets exports from Canada, comprising 68% of total exports. The second position in the ranking was taken by the UK ($X), with a 5.3% share of total exports. It was followed by Germany, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+21.2% per year) and Germany (+13.5% per year).

Export Prices by Country

The average interchangeable spanner socket export price stood at $X per ton in 2022, which is down by -20.8% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +8.3% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 37% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank sharply in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and the United States ($X per ton), while the average price for exports to Ireland ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Canada

In 2022, overseas purchases of interchangeable spanner sockets increased by 31% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, interchangeable spanner socket imports skyrocketed to $X in 2022. Overall, imports, however, saw a slight descent. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and the United States (X tons) were the main suppliers of interchangeable spanner socket imports to Canada, with a combined 92% share of total imports. Japan lagged somewhat behind, comprising a further 2.5%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +27.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest interchangeable spanner socket suppliers to Canada were Taiwan (Chinese) ($X), China ($X) and the United States ($X), with a combined 92% share of total imports. Japan lagged somewhat behind, comprising a further 2.5%.

In terms of the main suppliers, Japan, with a CAGR of +26.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, reducing by -4.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 7.9%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and China ($X per ton), while the price for Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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