CIS: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in CIS

The CIS interchangeable spanner socket market declined to $X in 2022, remaining stable against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +61.0% against 2016 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Interchangeable Spanner Socket Production in CIS

In value terms, interchangeable spanner socket production rose to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports in CIS

In 2022, interchangeable spanner socket exports in the CIS reduced dramatically to X tons, waning by -21.9% compared with the previous year's figure. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 153% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, interchangeable spanner socket exports totaled $X in 2022. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 54%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Belarus (X tons) represented the largest exporter of interchangeable spanner sockets, committing 58% of total exports. It was distantly followed by Russia (X tons), committing a 34% share of total exports. The following exporters - Azerbaijan (X tons), Kazakhstan (X tons) and Armenia (X tons) - together made up 7.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Armenia (with a CAGR of +117.0%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belarus ($X) and Armenia ($X) were the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Armenia, with a CAGR of +93.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, rising by 29% against the previous year. Overall, the export price, however, saw a abrupt contraction. The growth pace was the most rapid in 2020 when the export price increased by 34%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (-0.5%), while the other leaders experienced a decline in the export price figures.

Interchangeable Spanner Socket Imports

Imports in CIS

In 2022, imports of interchangeable spanner sockets in the CIS reduced to X tons, waning by -1.7% compared with 2021. In general, imports, however, showed a temperate increase. The pace of growth was the most pronounced in 2013 when imports increased by 95% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, interchangeable spanner socket imports reduced to $X in 2022. Over the period under review, imports, however, showed a tangible increase. The pace of growth appeared the most rapid in 2013 with an increase of 105%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) represented the major importer of interchangeable spanner sockets, generating 70% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a 12% share, followed by Belarus (8.6%). The following importers - Uzbekistan (X tons), Azerbaijan (X tons), Moldova (X tons) and Armenia (X tons) - together made up 8.7% of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of interchangeable spanner sockets. At the same time, Azerbaijan (+32.3%), Uzbekistan (+25.3%), Armenia (+24.6%), Moldova (+12.9%), Kazakhstan (+11.3%) and Belarus (+9.8%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +32.3% from 2012-2022. From 2012 to 2022, the share of Kazakhstan, Belarus, Uzbekistan and Azerbaijan increased by +6.9, +4.3, +2.7 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported interchangeable spanner sockets in the CIS, comprising 74% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 9.8% share of total imports. It was followed by Belarus, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +1.2%. In the other countries, the average annual rates were as follows: Kazakhstan (+4.5% per year) and Belarus (+8.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, shrinking by -6.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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