Hong Kong SAR, China: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Hong Kong SAR, China

The Hong Kong interchangeable spanner socket market declined to $X in 2022, with a decrease of -10.1% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Interchangeable Spanner Socket Production in Hong Kong SAR, China

In value terms, interchangeable spanner socket production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 64% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of interchangeable spanner sockets were exported from Hong Kong SAR; picking up by 50% compared with 2021. In general, exports, however, showed a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, interchangeable spanner socket exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 33%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), China (X tons) and the United States (X tons) were the main destinations of interchangeable spanner socket exports from Hong Kong SAR, with a combined 93% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +110.4%), while shipments for the other leaders experienced a decline.

In value terms, Germany ($X), China ($X) and the United States ($X) appeared to be the largest markets for interchangeable spanner socket exported from Hong Kong SAR worldwide, together comprising 93% of total exports.

Among the main countries of destination, Germany, with a CAGR of +117.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, declining by -22.3% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, interchangeable spanner socket export price decreased by -25.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of interchangeable spanner sockets was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 49% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, interchangeable spanner socket imports expanded modestly to $X in 2022. Overall, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of interchangeable spanner socket imports to Hong Kong SAR, with a combined 93% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +17.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and the United States ($X) appeared to be the largest interchangeable spanner socket suppliers to Hong Kong SAR, together comprising 93% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +15.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, waning by -4.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 13%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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