Germany: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Germany

In 2021, the German interchangeable tool market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Interchangeable tool consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Interchangeable Tool Production in Germany

In value terms, interchangeable tool production expanded sharply to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11%. Interchangeable tool production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Interchangeable Tool Exports

Exports from Germany

In 2021, shipments abroad of interchangeable tools for hand tools was finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. In general, exports, however, showed a mild reduction. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, interchangeable tool exports soared to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), the UK (X tons) and China (X tons) were the main destinations of interchangeable tool exports from Germany, together accounting for 25% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +2.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable tool exported from Germany were the United States ($X), China ($X) and Switzerland ($X), with a combined 25% share of total exports. France, Austria, Poland, Italy, the Netherlands, the Czech Republic, the UK, Spain, Hungary and Slovenia lagged somewhat behind, together comprising a further 45%.

In terms of the main countries of destination, Poland, with a CAGR of +6.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2021, with an increase of 8.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2018 an increase of 18%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the UK ($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 Poland (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Germany

In 2021, imports of interchangeable tools for hand tools into Germany skyrocketed to X tons, rising by 19% on the previous year. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool imports soared to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period 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

In 2021, China (X tons) constituted the largest supplier of interchangeable tool to Germany, accounting for a 38% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Slovenia (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.8% per year) and Slovenia (+5.2% per year).

In value terms, the largest interchangeable tool suppliers to Germany were China ($X), Switzerland ($X) and Italy ($X), with a combined 38% share of total imports. The Czech Republic, Poland, Austria, Slovenia, the Netherlands, South Korea, Spain, Slovakia, Hungary and Turkey lagged somewhat behind, together comprising a further 36%.

Among the main suppliers, Turkey, with a CAGR of +22.0%, saw 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, surging by 6.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 16% against the previous year. Over the period under review, average import prices hit record highs 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 supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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