Japan: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Japan

The Japanese interchangeable spanner socket market stood at $X in 2022, approximately mirroring the previous year. In general, consumption recorded a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Production in Japan

In value terms, interchangeable spanner socket production reached $X in 2022 estimated in export price. In general, production recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 39%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports from Japan

In 2022, exports of interchangeable spanner sockets from Japan reduced to X tons, shrinking by -4.2% against the year before. In general, exports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable spanner socket exports shrank notably to $X in 2022. Overall, exports saw a mild decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 54%. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

Luxembourg (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of interchangeable spanner socket exports from Japan, together accounting for 53% of total exports. Saudi Arabia, the United States, Germany, Hong Kong SAR, Belgium, Vietnam, New Zealand, China, the Philippines and the United Arab Emirates lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +29.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable spanner socket exported from Japan were Luxembourg ($X), South Korea ($X) and the United States ($X), with a combined 45% share of total exports. Thailand, China, Vietnam, Belgium, Germany, Saudi Arabia, Hong Kong SAR, New Zealand, the Philippines and the United Arab Emirates lagged somewhat behind, together accounting for a further 41%.

In terms of the main countries of destination, Belgium, with a CAGR of +30.9%, recorded 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 spanner socket export price stood at $X per ton in 2022, falling by -16.5% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($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 Vietnam (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Japan

In 2022, interchangeable spanner socket imports into Japan contracted modestly to X tons, dropping by -3.8% on the previous year. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, interchangeable spanner socket imports fell modestly to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +19.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest supplier of interchangeable spanner socket to Japan, with a 72% share of total imports. Moreover, interchangeable spanner socket imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and the United States (-5.0% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of interchangeable spanner sockets to Japan, comprising 68% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and the United States (-8.0% per year).

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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