Interchangeable spanner sockets market in Germany

Earlier Report Observations

Between 2018 and 2020, the German market for interchangeable spanner sockets contracted from 12 188 t to 8 171 t. A recovery followed in 2021, with market volume reaching 10 882 t, nearly matching the 2018 level. The market then stabilized in 2022 at 10 632 t, showing only a minor decrease.

In 2023, the market volume dropped sharply to 6 350 t, a decline of more than 40% from the previous year. This was followed by a partial rebound to 7 846 t in 2024. The recovery in 2024 coincided with Germany reinforcing its position as Europe's leading importer of interchangeable spanner sockets, with imports exceeding 13 million kg that year.

Production interchangeable spanner sockets in Germany

In value, 2017-2020, M $ US

Germany's production of interchangeable spanner sockets in monetary terms declined for the second consecutive year. In 2020, output was valued at 80.6 million US dollars, showing a significant decrease of 12.0% compared to 2019. Over the period from 2017 to 2020, production fell by 35.2%, with a compound annual growth rate of 13.5%. The highest value was recorded in 2018 at 135.9 million US dollars, which saw an increase of 9.2%. The largest decline occurred in 2019, with a drop of 32.6%.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

In kind, 2017-2020, t

Germany's production volume of interchangeable spanner sockets declined for the third consecutive year. In 2020, 2,761 tonnes were produced, marking a substantial decrease of 19.1% compared to 2019. From 2017 to 2020, production decreased by 59.2%, with a compound annual growth rate of 25.8%.

Annual dynamics of production in Germany in kind, 2017-2020, t

Exports interchangeable spanner sockets from Germany

Exports in kind, t

Exports of interchangeable spanner sockets from Germany increased for the third consecutive year. In 2020, shipments totaled 4,981 tonnes, showing a moderate rise of 3.8% year-over-year. Between 2017 and 2020, exports grew by 13.9%, equating to an annualized rate of 4.4%.

Annual dynamics of product's exports from Germany in kind, 2017-2020, t

From 2017 to 2020, the country structure of exports in kind was highly diversified. Poland accounted for 14.1% of exports, Spain for 8.8%, and France for 8.8%, together making up only 31.7% of total flows. The remaining 68.3% consisted of a long tail of smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, M $ US

Exports of interchangeable spanner sockets from Germany in monetary terms declined for the second consecutive year. In 2020, exports amounted to 101.2 million US dollars, showing a slight decrease of 2.1% compared to 2019. Over the period from 2017 to 2020, exports increased by 5.4%, with a compound annual growth rate of 1.8%. The highest value was recorded in 2018 at 105.5 million US dollars, which saw an increase of 9.9%.

Annual dynamics of product's exports from Germany in value, 2017-2020, M $ US

From 2017 to 2020, the country breakdown of exports in value terms was scattered. Poland accounted for 8.5% of exports, Austria for 8.2%, and France for 8.1%, together making up just 24.7% of total flows, with no single partner emerging as clearly dominant.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports interchangeable spanner sockets to Germany

Imports in kind, t

After a two-year rise, imports of interchangeable spanner sockets into Germany declined. In 2020, Germany imported 10,400 tonnes, marking a modest drop of 8.0% relative to the prior year. The highest volume was recorded in 2019 at 11,296 tonnes, which saw an increase of 10.0%.

Annual dynamics of product's imports to Germany in kind, 2017-2020, t

Throughout 2017 to 2020, Asia, not elsewhere specified, and China remained the principal sources for imports in kind, jointly accounting for 83.6% of total flows. Other partners each held significantly smaller shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, M $ US

After a two-year uptick, imports of interchangeable spanner sockets into Germany in monetary terms declined. In 2020, Germany imported 105.2 million US dollars worth of these sockets, representing a moderate decline of 6.4% compared to the previous year. Between 2017 and 2020, imports increased by 14.2%, equating to an annualized rate of 4.5%. The highest value was recorded in 2019 at 112.4 million US dollars, which saw an increase of 10.6%.

Annual dynamics of product's imports to Germany in value, 2017-2020, M $ US

From 2017 to 2020, Asia, not elsewhere specified accounted for 52.2% of imports in value terms, China for 16.0%, and the United States for 5.3%, jointly making up 73.4% of total flows as the principal destinations for imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020