South-Eastern Asia: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in South-Eastern Asia

The Southeast Asian interchangeable spanner socket market stood at $X in 2022, approximately equating the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +39.2% against 2014 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Interchangeable Spanner Socket Production in South-Eastern Asia

In value terms, interchangeable spanner socket production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The growth pace was the most rapid in 2019 when the production volume increased by 65% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of interchangeable spanner sockets, when their volume decreased by -14.2% to X tons. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 77% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable spanner socket exports declined to $X in 2022. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 85% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2022, Singapore (X tons) and Vietnam (X tons) were the largest exporters of interchangeable spanner sockets in South-Eastern Asia, together mixing up 70% of total exports. Malaysia (X tons) held the next position in the ranking, followed by Thailand (X tons). All these countries together took approx. 26% share of total exports. Indonesia (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +46.8%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, with a combined 92% share of total exports.

Vietnam, with a CAGR of +61.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% 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 increased by +28.2% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 59%. Over the period under review, the export prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.2%), while the other leaders experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of interchangeable spanner sockets increased by 3.3% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, interchangeable spanner socket imports reached $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +41.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) and Thailand (X tons) were the key importers of interchangeable spanner sockets in South-Eastern Asia, together recording near 70% of total imports. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Vietnam (X tons), together mixing up a 24% share of total imports. Cambodia (X tons) and the Philippines (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +39.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together comprising 74% of total imports. Singapore, Vietnam, the Philippines and Cambodia lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Cambodia, with a CAGR of +30.9%, recorded the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by 3.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 an increase of 36% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+22.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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