Eastern Asia: Screwdriver Market 2024

Screwdriver Market Size in Eastern Asia

In 2021, the East Asian screwdriver market decreased by -17.2% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Screwdriver Production in Eastern Asia

In value terms, screwdriver production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2016 with an increase of 5.3%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Screwdriver Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of screwdrivers, when their volume increased by 19% to X tons. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 168% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, screwdriver exports surged to $X in 2021. The total export value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 90% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), generating a 9.2% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of screwdrivers. At the same time, Taiwan (Chinese) (+3.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.1% from 2012-2021. Taiwan (Chinese) (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest screwdriver supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports.

In China, screwdriver exports expanded at an average annual rate of +4.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 8.2% against the previous year. Over the period under review, the export price enjoyed a temperate increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 144% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, 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 Taiwan (Chinese) ($X per ton), while China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.0%).

Screwdriver Imports

Imports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in overseas purchases of screwdrivers, which increased by 3.2% to X tons in 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 20% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, screwdriver imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), China (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) represented roughly 94% of total imports in 2021. It was distantly followed by Hong Kong SAR (X tons), comprising a 6.4% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +6.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest screwdriver importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 79% of total imports. These countries were followed by Taiwan (Chinese) and Hong Kong SAR, which together accounted for a further 21%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +9.1%, 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 import price in Eastern Asia amounted to $X per ton, growing by 8.5% against the previous year. Over the period under review, the import price continues to indicate a modest increase. The pace of growth was the most pronounced in 2017 when the import price increased by 11% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :