Price for Hand-Operated Spanners and Wrenches in India - 2023
Contents:
- Price for Hand-Operated Spanners and Wrenches in India (FOB) - 2022
- Price for Hand-Operated Spanners and Wrenches in India (CIF) - 2022
- Exports of Hand-Operated Spanners and Wrenches in India
- Imports of Hand-Operated Spanners and Wrenches in India
Price for Hand-Operated Spanners and Wrenches in India (FOB) - 2022
The average hand-operated spanners and wrenches export price stood at $3,914 per ton in 2022, with a decrease of -2% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2013 an increase of 13% against the previous year. The export price peaked at $3,994 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($4,717 per ton), while the average price for exports to the United Arab Emirates ($1,688 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 Italy (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in India (CIF) - 2022
The average hand-operated spanners and wrenches import price stood at $5,593 per ton in 2022, falling by -3.8% against the previous year. Over the period under review, the import price recorded a abrupt setback. The pace of growth was the most pronounced in 2019 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $9,316 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Germany ($43,857 per ton), while the price for Taiwan (Chinese) ($2,340 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.7%), while the prices for the other major suppliers experienced a decline.
Exports of Hand-Operated Spanners and Wrenches in India
In 2022, the amount of hand-operated spanners and wrencheses exported from India declined to 47K tons, waning by -2.9% on the previous year. The total export volume increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. As a result, the exports reached the peak of 48K tons, and then reduced slightly in the following year.
In value terms, hand-operated spanners and wrenches exports shrank slightly to $184M in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 52%. As a result, the exports reached the peak of $193M, and then reduced in the following year.
| Export of Hand-Operated Spanners and Wrenches in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 27.7 | 28.8 | 55.0 | 51.8 | 23.2% |
| Germany | 14.9 | 18.2 | 20.1 | 18.9 | 8.2% |
| Brazil | 8.3 | 8.5 | 12.3 | 11.6 | 11.8% |
| Russia | 9.1 | 7.0 | 11.6 | 10.9 | 6.2% |
| United Kingdom | 5.6 | 4.7 | 6.6 | 6.2 | 3.5% |
| Poland | 5.1 | 4.0 | 6.0 | 5.6 | 3.2% |
| Nigeria | 4.4 | 4.1 | 5.2 | 4.9 | 3.7% |
| Egypt | 2.8 | 3.6 | 4.4 | 4.1 | 13.6% |
| Italy | 2.5 | 2.4 | 3.9 | 3.7 | 14.0% |
| Netherlands | 6.7 | 1.7 | 2.9 | 3.5 | -19.5% |
| Spain | 2.2 | 1.9 | 3.7 | 3.5 | 16.7% |
| Mexico | 2.6 | 2.0 | 3.6 | 3.4 | 9.4% |
| United Arab Emirates | 2.8 | 3.1 | 3.5 | 3.3 | 5.6% |
| Others | 45.6 | 37.5 | 54.6 | 52.6 | 4.9% |
| Total | 140 | 127 | 193 | 184 | 9.5% |
Top Export Markets for Hand-Operated Spanners and Wrenches from India in 2022:
- United States (11.0K tons)
- Germany (4.3K tons)
- Brazil (3.3K tons)
- Russia (3.0K tons)
- United Arab Emirates (1.9K tons)
- Nigeria (1.7K tons)
- United Kingdom (1.6K tons)
- Egypt (1.4K tons)
- Poland (1.4K tons)
- Netherlands (0.9K tons)
- Italy (0.9K tons)
- Mexico (0.9K tons)
- Spain (0.9K tons)
Imports of Hand-Operated Spanners and Wrenches in India
In 2022, approx. 7.4K tons of hand-operated spanners and wrencheses were imported into India; increasing by 24% against the year before. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when imports increased by 76% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, hand-operated spanners and wrenches imports skyrocketed to $41M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +8.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 48% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Hand-Operated Spanners and Wrenches in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.4 | 9.7 | 16.3 | 18.8 | 18.1% |
| Taiwan (Chinese) | 4.6 | 3.0 | 4.2 | 4.9 | 2.1% |
| Others | 16.3 | 10.5 | 13.9 | 17.5 | 2.4% |
| Total | 32.3 | 23.3 | 34.3 | 41.1 | 8.4% |
Top Suppliers of Hand-Operated Spanners and Wrenches to India in 2022:
- China (4.8K tons)
- Taiwan (Chinese) (2.1K tons)
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