Thailand: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Thailand

The Thai interchangeable spanner socket market rose rapidly to $X in 2022, growing by 6.3% 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, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Thailand

In 2022, overseas shipments of interchangeable spanner sockets decreased by -58.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when exports increased by 69%. The exports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, interchangeable spanner socket exports fell rapidly to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 51%. The exports peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Lao People's Democratic Republic (X tons), Myanmar (X tons) and Singapore (X tons) were the main destinations of interchangeable spanner socket exports from Thailand, with a combined 62% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +96.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable spanner socket exported from Thailand were Lao People's Democratic Republic ($X), Myanmar ($X) and Singapore ($X), together accounting for 59% of total exports.

In terms of the main countries of destination, Myanmar, with a CAGR of +106.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, jumping by 45% against the previous year. Over the period under review, the export price, however, recorded a perceptible decrease. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($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 (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Thailand

In 2022, imports of interchangeable spanner sockets into Thailand expanded modestly to X tons, increasing by 2.4% against the previous year. In general, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +83.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 66%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, interchangeable spanner socket imports amounted to $X in 2022. Overall, imports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 17% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable spanner socket to Thailand, accounting for a 76% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.8% per year) and Japan (-2.7% per year).

In value terms, the largest interchangeable spanner socket suppliers to Thailand were China ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 82% share of total imports.

In terms of the main suppliers, China, with a CAGR of +6.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2019 an increase of 49% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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) (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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