Spain: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Spain

The Spanish interchangeable spanner socket market dropped slightly to $X in 2022, waning by -3.6% against the previous year. Over the period under review, consumption, however, showed a slight setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Interchangeable Spanner Socket Production in Spain

In value terms, interchangeable spanner socket production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt descent. The pace of growth was the most pronounced in 2014 when the production volume increased by 33% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Interchangeable Spanner Socket Exports

Exports from Spain

After three years of decline, overseas shipments of interchangeable spanner sockets increased by 77% to X tons in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 134%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, interchangeable spanner socket exports surged to $X in 2022. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 58% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for interchangeable spanner socket exports from Spain, with a 53% share of total exports. Moreover, interchangeable spanner socket exports to France exceeded the volume sent to the second major destination, Italy (X tons), fourfold. Portugal (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to +51.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+55.3% per year) and Portugal (+22.7% per year).

In value terms, France ($X) remains the key foreign market for interchangeable spanner sockets exports from Spain, comprising 38% of total exports. The second position in the ranking was taken by Portugal ($X), with a 13% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +49.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+14.2% per year) and Germany (+47.5% per year).

Export Prices by Country

The average interchangeable spanner socket export price stood at $X per ton in 2022, shrinking by -30.7% against the previous year. Overall, the export price saw a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 29%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 the Netherlands ($X per ton), while the average price for exports to France ($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 Sweden (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Interchangeable Spanner Socket Imports

Imports into Spain

In 2022, overseas purchases of interchangeable spanner sockets increased by 39% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 65%. Imports peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, interchangeable spanner socket imports skyrocketed to $X in 2022. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 44% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable spanner socket to Spain, with a 59% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.8% per year) and Germany (+6.6% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Germany ($X) constituted the largest interchangeable spanner socket suppliers to Spain, with a combined 81% share of total imports.

Among the main suppliers, China, with a CAGR of +24.1%, saw the highest growth rate of 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 average interchangeable spanner socket import price stood at $X per ton in 2022, with a decrease of -9% against the previous year. In general, the import price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2014 an increase of 30% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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