Asia-Pacific: Shaft Coupling Market 2024

Shaft Coupling Market Size in Asia-Pacific

The Asia-Pacific shaft coupling market declined to $X in 2022, dropping by -8.3% against the previous year. In general, consumption saw a mild descent. 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-Pacific

In value terms, shaft coupling production declined to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 9.8%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Shaft Coupling Exports

Exports in Asia-Pacific

For the seventh year in a row, Asia-Pacific recorded growth in shipments abroad of clutches and shaft couplings, which increased by 52% to X tons in 2022. In general, exports posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 58% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain 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 +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 28%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 85% of total exports in 2022. It was distantly followed by Japan (X tons), creating a 5.8% 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 7.1% 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 (-4.3 p.p.), Singapore (-4.6 p.p.), South Korea (-11.1 p.p.) and Japan (-22.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest shaft coupling supplier in Asia-Pacific, comprising 60% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by Singapore, with a 6.5% share.

In China, shaft coupling exports expanded at an average annual rate of +7.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.6% per year) and Singapore (+1.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, declining by -32% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The growth pace was the most rapid in 2018 an increase of 6.3% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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-Pacific

In 2022, approx. X tons of clutches and shaft couplings were imported in Asia-Pacific; dropping by -2.5% compared with 2021. In general, imports continue to indicate a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, shaft coupling imports dropped slightly to $X in 2022. Overall, imports showed a mild decrease. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons), Indonesia (X tons), India (X tons), South Korea (X tons), Thailand (X tons), Japan (X tons), Australia (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Singapore (X tons) and Vietnam (X tons) was the key importer of clutches and shaft couplings in Asia-Pacific, comprising 94% of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported clutches and shaft couplings in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by South Korea, with an 8.4% share.

In China, shaft coupling imports declined by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+1.3% per year) and South Korea (-8.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, almost unchanged from the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 8.9% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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