Southern Asia: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Southern Asia

The South Asian interchangeable tool market surged to $X in 2021, picking up by 32% against the previous year. The market value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Interchangeable Tool Production in Southern Asia

In value terms, interchangeable tool production dropped to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +87.2% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 43%. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Interchangeable Tool Exports

Exports in Southern Asia

In 2021, the amount of interchangeable tools for hand tools exported in Southern Asia surged to X tons, jumping by 34% on the year before. Total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +14.1% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool exports soared to $X in 2021. The total export value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together recording 99% of total export.

India was also the fastest-growing in terms of the interchangeable tools for hand tools exports, with a CAGR of +4.3% from 2012 to 2021. From 2012 to 2021, the share of India increased by +2.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest interchangeable tool supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +4.9%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, reducing by -3.3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 30% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +0.6% per year.

Interchangeable Tool Imports

Imports in Southern Asia

After two years of decline, supplies from abroad of interchangeable tools for hand tools increased by 95% to X tons in 2021. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

India was the major importer of interchangeable tools for hand tools in Southern Asia, with the volume of imports resulting at X tons, which was near 81% of total imports in 2021. It was distantly followed by Pakistan (X tons), constituting an 11% share of total imports. Bangladesh (X tons) and Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool imports into India stood at +4.8%. At the same time, Bangladesh (+11.9%), Pakistan (+8.2%) and Sri Lanka (+6.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +11.9% from 2012-2021. While the share of Pakistan (+2.4 p.p.) and Bangladesh (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-5.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported interchangeable tools for hand tools in Southern Asia, comprising 88% of total imports. The second position in the ranking was held by Pakistan ($X), with a 6.5% share of total imports. It was followed by Bangladesh, with a 2.8% share.

In India, interchangeable tool imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Pakistan (+5.0% per year) and Bangladesh (+9.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, waning by -38.4% against the previous year. Overall, the import price showed a pronounced curtailment. The growth pace was the most rapid in 2019 an increase of 31%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :