Mexico: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Mexico

In 2022, the Mexican interchangeable spanner socket market increased by 8.5% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate strong growth. Interchangeable spanner socket consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Interchangeable Spanner Socket Production in Mexico

In value terms, interchangeable spanner socket production fell to $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 60% against the previous year. Interchangeable spanner socket production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Mexico

For the third year in a row, Mexico recorded growth in shipments abroad of interchangeable spanner sockets, which increased by 23% to X tons in 2022. Overall, exports showed pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of 143% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, interchangeable spanner socket exports rose to $X in 2022. In general, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2021 with an increase of 150%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), Guatemala (X tons) and El Salvador (X tons) were the main destinations of interchangeable spanner socket exports from Mexico, with a combined 77% share of total exports.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +29.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for interchangeable spanner sockets exports from Mexico, comprising 75% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 6.6% share of total exports. It was followed by El Salvador, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+13.8% per year) and El Salvador (+25.2% per year).

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, falling by -14.5% against the previous year. Over the period under review, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 an increase of 73%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 the United States ($X per ton), while the average price for exports to Guatemala ($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 Bolivia (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Mexico

In 2022, purchases abroad of interchangeable spanner sockets increased by 32% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 91%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, interchangeable spanner socket imports skyrocketed to $X in 2022. Overall, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 44%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main suppliers of interchangeable spanner socket imports to Mexico, together accounting for 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest interchangeable spanner socket suppliers to Mexico were Taiwan (Chinese) ($X), China ($X) and the United States ($X), together comprising 94% of total imports.

China, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, stabilizing at the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 9.5% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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) (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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