Europe: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Europe

In 2022, the Europe interchangeable spanner socket market increased by 17% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Interchangeable Spanner Socket Production in Europe

In value terms, interchangeable spanner socket production shrank to $X in 2022 estimated in export price. In general, production, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2021 with an increase of 20%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports in Europe

In 2022, overseas shipments of interchangeable spanner sockets increased by 3.1% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +18.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 24%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, interchangeable spanner socket exports reduced modestly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +17.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Germany (X tons) and the Netherlands (X tons) represented roughly 49% of total exports in 2022. Poland (X tons) took the next position in the ranking, followed by Spain (X tons) and France (X tons). All these countries together held approx. 20% share of total exports. Sweden (X tons), Denmark (X tons), Austria (X tons), Luxembourg (X tons), the Czech Republic (X tons), the UK (X tons), Belgium (X tons) and Italy (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Spain (with a CAGR of +25.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest interchangeable spanner socket supplier in Europe, comprising 34% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total exports. It was followed by France, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in Germany amounted to +5.6%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+17.9% per year) and France (+1.3% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, reducing by -6.6% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2017 when the export price increased by 7% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.7%), while the other leaders experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports in Europe

In 2022, purchases abroad of interchangeable spanner sockets increased by 7.1% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, interchangeable spanner socket imports totaled $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Germany (X tons), distantly followed by Poland (X tons), the Netherlands (X tons), France (X tons) and the UK (X tons) were the key importers of interchangeable spanner sockets, together mixing up 62% of total imports. The following importers - Spain (X tons), Russia (X tons), Italy (X tons), Austria (X tons), the Czech Republic (X tons), Belgium (X tons), Sweden (X tons) and Romania (X tons) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +18.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported interchangeable spanner sockets in Europe, comprising 22% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by France, with a 9.2% share.

In Germany, interchangeable spanner socket imports expanded at an average annual rate of +6.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+16.2% per year) and France (+1.1% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, declining by -2.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 6.5%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform