Report Update Nov 1, 2024

Dominican Republic - Interchangeable Tools for Hand Tools - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in the Dominican Republic

After two years of decline, the Dominican interchangeable tool market increased by 69% to $X in 2021. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the near future.

Interchangeable Tool Exports

Exports from the Dominican Republic

After four years of decline, overseas shipments of interchangeable tools for hand tools increased by 1,035% to X tons in 2021. Over the period under review, exports enjoyed a significant expansion. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, interchangeable tool exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Haiti (X tons) and Jamaica (X tons) were the main destinations of interchangeable tool exports from the Dominican Republic, with a combined 67% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Jamaica (with a CAGR of +114.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for interchangeable tools for hand tools exports from the Dominican Republic, comprising 89% of total exports. The second position in the ranking was held by Jamaica ($X), with a 4.3% share of total exports. It was followed by Haiti, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+127.2% per year) and Haiti (-18.0% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2021, with a decrease of -15.4% against the previous year. In general, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 90%. The export price peaked at $X per ton in 2020, and then dropped sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti ($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 the United Arab Emirates (+91.5%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into the Dominican Republic

In 2021, supplies from 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. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2017 when imports increased by 125% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, interchangeable tool imports soared to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest interchangeable tool supplier to the Dominican Republic, accounting for a 44% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +37.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.2% per year) and Germany (+34.4% per year).

In value terms, the United States ($X), China ($X) and Mexico ($X) appeared to be the largest interchangeable tool suppliers to the Dominican Republic, with a combined 73% share of total imports.

In terms of the main suppliers, China, with a CAGR of +26.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average interchangeable tool import price amounted to $X per ton, waning by -16.1% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of 33%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+10.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for interchangeable tools for hand tools in the world?

The country with the largest volume of interchangeable tool consumption was China, accounting for 30% of total volume. Moreover, interchangeable tool consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Germany, with a 10% share.

What are the largest producers of interchangeable tools for hand tools in the world?

China remains the largest interchangeable tool producing country worldwide, accounting for 43% of total volume. Moreover, interchangeable tool production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. South Korea ranked third in terms of total production with a 7.7% share.

What are the leading suppliers of interchangeable tools for hand tools to the Dominican Republic?

In value terms, the United States, China and Mexico appeared to be the largest interchangeable tool suppliers to the Dominican Republic, together comprising 71% of total imports.

What are the leading importers of interchangeable tools for hand tools from the Dominican Republic?

In value terms, the largest markets for interchangeable tool exported from the Dominican Republic were Venezuela, Brazil and the United States, with a combined 75% share of total exports.

What is the average export price for interchangeable tools for hand tools in the Dominican Republic?

The average interchangeable tool export price stood at $17,744 per ton in 2020, waning by -50.6% against the previous year.

What is the average import price for interchangeable tools for hand tools in the Dominican Republic?

The average interchangeable tool import price stood at $23,738 per ton in 2020, waning by -34.9% against the previous year.

This report provides an in-depth analysis of the interchangeable tool market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25734014 - Tapping tools for working metal
Prodcom 25734016 - Threading tools for working metal
Prodcom 25734019 - Tapping or threading tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734023 - Drilling tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734025 - Masonry drills with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734027 - Drilling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734031 - Drilling tools with working part of high speed steel, for working metal excluding work and tool holders for machines or hand tools - for rock drilling
Prodcom 25734033 - Drilling tools with working part of materials other than diamond, agglomerated diamond or sintered metal carbide, f or working metal excluding with working part of high speed steel
Prodcom 25734035 - Drilling tools (excluding work and tool holders for machines or hand tools, with working part of diamond or agglomerated diamond, for rock drilling, masonry drills, for working metal)
Prodcom 25734037 - Boring or broaching tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for earth boring)
Prodcom 25734044 - Boring tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734045 - Boring or broaching tools (excluding work and tool holders for machines or hand tools, with diamond or agglomerated diamond working parts, for working metal, for earth boring)
Prodcom 25734048 - Broaching tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734050 - Milling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734061 - Shank type milling tools for working metal (excluding with working part of sintered metal carbide)
Prodcom 25734065 -
Prodcom 25734067 -
Prodcom 25734069 - Milling tools (excluding for working metal)
Prodcom 25734071 - Turning tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734074 - Turning tools for working metal, with working part of materials other than cermets
Prodcom 25734079 - Turning tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734081 - Other interchangeable tools of CN .82.07 with working part of diamond
Prodcom 25734083 - Screwdriver bits with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734085 - Gear-cutting tools with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734087 - Interchangeable hand tools with working part of sintered metal carbide excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734089 - Interchangeable tools in other materials
Prodcom 25736013 - Rock drilling or earth boring tools with working part of cermets
Prodcom 25736018 - Rock-drilling or earth-boring tools, interchangeable, and parts therefor, with working parts of materials other than sintered metal carbide or cermets
Prodcom 25736023 - Dies for drawing or extruding metal, with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25736024 - Dies for drawing or extruding metal (excluding unmounted plates, sticks, tips, rods, pellets, rings, etc. of sintered metal carbides or cermets)
Prodcom 25736033 - Pressing, stamping or punching tools for working metal (excluding work and tool holders for machines or hand tools)
Prodcom 25736039 - Pressing, stamping or punching tools (excluding work and tool holders for machines or hand tools, for working metal)

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023