Malaysia: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Malaysia

The Malaysian interchangeable spanner socket market amounted to $X in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.4% against 2017 indices. Interchangeable spanner socket consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Interchangeable Spanner Socket Exports

Exports from Malaysia

In 2022, interchangeable spanner socket exports from Malaysia reduced to X tons, which is down by -6.7% against the previous year's figure. In general, exports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of 82%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable spanner socket exports fell modestly to $X in 2022. Over the period under review, exports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2018 with an increase of 119%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), Singapore (X tons) and Brunei Darussalam (X tons) were the main destinations of interchangeable spanner socket exports from Malaysia, with a combined 80% share of total exports. Chile, Germany, Spain and France lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +159.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for interchangeable spanner sockets exports from Malaysia, comprising 51% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by Chile, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+14.1% per year) and Chile (+152.8% per year).

Export Prices by Country

The average interchangeable spanner socket export price stood at $X per ton in 2022, picking up by 6.2% against the previous year. Over the period under review, the export price, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2013 an increase of 32%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the average price for exports to Spain ($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 Myanmar (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Malaysia

In 2022, overseas purchases of interchangeable spanner sockets decreased by -1.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +70.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. Imports peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, interchangeable spanner socket imports totaled $X in 2022. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 51%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) was the main supplier of interchangeable spanner socket to Malaysia, with a 94% share of total imports. It was followed by Singapore (X tons), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +14.0%.

In value terms, China ($X) constituted the largest supplier of interchangeable spanner sockets to Malaysia, comprising 75% of total imports. The second position in the ranking was held by Singapore ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +20.1%.

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, growing by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2013 an increase of 13%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :