Asia: Shaft Coupling Market 2024

Shaft Coupling Market Size in Asia

The Asian shaft coupling market fell to $X in 2022, waning by -8.1% against the previous year. Over the period under review, consumption continues to indicate a slight reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Shaft Coupling Production in Asia

In value terms, shaft coupling production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 9.8% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Shaft Coupling Exports

Exports in Asia

For the seventh consecutive year, Asia recorded growth in overseas shipments of clutches and shaft couplings, which increased by 51% to X tons in 2022. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, shaft coupling exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2012 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 when exports increased by 29% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 84% of total exports in 2022. It was distantly followed by Japan (X tons), comprising a 5.7% share of total exports. The following exporters - Thailand (X tons), South Korea (X tons), India (X tons) and Singapore (X tons) - each finished at a 7% share of total exports.

China was also the fastest-growing in terms of the clutches and shaft couplings exports, with a CAGR of +28.6% from 2012 to 2022. At the same time, Thailand (+19.9%), India (+2.7%) and Singapore (+2.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-3.4%) illustrated a downward trend over the same period. While the share of China (+52 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-4.2 p.p.), Singapore (-4.4 p.p.), South Korea (-10.7 p.p.) and Japan (-21.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest shaft coupling supplier in Asia, comprising 58% of total exports. The second position in the ranking was held by Japan ($X), with a 17% share of total exports. It was followed by Singapore, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +7.1%. In the other countries, the average annual rates were as follows: Japan (-2.6% per year) and Singapore (+1.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with a decrease of -31.4% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the export price increased by 5% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.1%), while the other leaders experienced a decline in the export price figures.

Shaft Coupling Imports

Imports in Asia

In 2022, overseas purchases of clutches and shaft couplings increased by 0.1% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 9.7%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, shaft coupling imports reduced slightly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 12%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of shaft coupling imports in 2022 were China (X tons), Indonesia (X tons), India (X tons), South Korea (X tons), Thailand (X tons), Turkey (X tons), Japan (X tons), Taiwan (Chinese) (X tons), the United Arab Emirates (X tons), Malaysia (X tons), Singapore (X tons) and Iran (X tons), together resulting at 84% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported clutches and shaft couplings in Asia, comprising 25% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by South Korea, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to -1.3%. The remaining importing countries recorded the following average annual rates of imports growth: India (+1.3% per year) and South Korea (-8.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, falling by -2.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 6.8% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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