ASEAN: Shaft Coupling Market 2024

Shaft Coupling Market Size in ASEAN

The ASEAN shaft coupling market contracted to $X in 2022, with a decrease of -4.3% against the previous year. In general, consumption saw a pronounced reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Shaft Coupling Production in ASEAN

In value terms, shaft coupling production fell to $X in 2022 estimated in export price. Overall, production saw a pronounced reduction. The growth pace was the most rapid in 2019 with an increase of 44% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Shaft Coupling Exports

Exports in ASEAN

In 2022, shaft coupling exports in ASEAN dropped to X tons, reducing by -2.6% on the year before. Total exports indicated noticeable growth 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, exports increased by +41.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, shaft coupling exports declined to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons) and Singapore (X tons) prevails in exports structure, together creating 86% of total exports. It was distantly followed by Indonesia (X tons), generating a 7.4% share of total exports. Malaysia (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest shaft coupling supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was taken by Thailand ($X), with a 24% share of total exports. It was followed by Malaysia, with a 5% share.

In Singapore, shaft coupling exports expanded at an average annual rate of +1.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+5.0% per year) and Malaysia (-3.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, falling by -5.4% against the previous year. In general, the export price showed a perceptible contraction. The growth pace was the most rapid in 2019 when the export price increased by 24%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.4%), while the other leaders experienced a decline in the export price figures.

Shaft Coupling Imports

Imports in ASEAN

In 2022, imports of clutches and shaft couplings in ASEAN reduced modestly to X tons, falling by -2.5% against the year before. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 +8.6% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 20%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, shaft coupling imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 18% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Thailand (X tons), Malaysia (X tons), Singapore (X tons) and Vietnam (X tons) were the main importers of clutches and shaft couplings, together generating 95% of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +12.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest shaft coupling importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), with a combined 65% share of total imports. Singapore, Vietnam and the Philippines lagged somewhat behind, together comprising a further 34%.

In terms of the main importing countries, the Philippines, with a CAGR of +11.6%, recorded 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 import price in ASEAN stood at $X per ton in 2022, dropping by -3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 20% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform