CIS: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in CIS

In 2021, after two years of decline, there was significant growth in the CIS interchangeable tool market, when its value increased by 12% to $X. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Interchangeable Tool Production in CIS

In value terms, interchangeable tool production declined modestly to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.2% against 2015 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 31%. Over the period under review, production reached the maximum level at $X in 2020, and then fell slightly in the following year.

Interchangeable Tool Exports

Exports in CIS

In 2021, after three years of decline, there was significant growth in overseas shipments of interchangeable tools for hand tools, when their volume increased by 23% to X tons. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 62% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, interchangeable tool exports surged to $X in 2021. Over the period under review, exports, however, showed a mild curtailment. The pace of growth was the most pronounced in 2017 with an increase of 37%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Russia represented the major exporter of interchangeable tools for hand tools in the CIS, with the volume of exports accounting for X tons, which was near 68% of total exports in 2021. It was distantly followed by Belarus (X tons), creating a 29% share of total exports. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool exports from Russia stood at +6.0%. At the same time, Belarus (+7.6%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +7.6% from 2012-2021. By contrast, Kazakhstan (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belarus and Russia increased by +5.8 and +5.7 percentage points, respectively.

In value terms, Russia ($X) remains the largest interchangeable tool supplier in the CIS, comprising 77% of total exports. The second position in the ranking was taken by Belarus ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia totaled -1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+3.4% per year) and Kazakhstan (-9.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2020 when the export price increased by 21% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+1.1%), while the other leaders experienced a decline in the export price figures.

Interchangeable Tool Imports

Imports in CIS

In 2021, purchases abroad of interchangeable tools for hand tools was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 38%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, interchangeable tool imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 31%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia dominates imports structure, amounting to X tons, which was approx. 81% of total imports in 2021. Kazakhstan (X tons) ranks second in terms of the total imports with a 7.1% share, followed by Belarus (5.6%). The following importers - Uzbekistan (X tons) and Azerbaijan (X tons) - each amounted to a 4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool imports into Russia stood at +5.8%. At the same time, Kazakhstan (+8.4%), Belarus (+8.2%), Azerbaijan (+4.3%) and Uzbekistan (+1.8%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +8.4% from 2012-2021. From 2012 to 2021, the share of Uzbekistan increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported interchangeable tools for hand tools in the CIS, comprising 79% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 6.1% share of total imports. It was followed by Uzbekistan, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to +3.4%. In the other countries, the average annual rates were as follows: Kazakhstan (-1.3% per year) and Uzbekistan (+42.6% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, growing by 2.6% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2016 an increase of 7.3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+40.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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