Asia-Pacific: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Asia-Pacific

In 2022, the Asia-Pacific cranks and crankshafts market decreased by -1.1% to $X, falling for the fourth consecutive year after three years of growth. In general, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 3% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Cranks And Crankshafts Production in Asia-Pacific

In value terms, cranks and crankshafts production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 3% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports in Asia-Pacific

In 2022, approx. X tons of cranks and crankshafts were exported in Asia-Pacific; remaining relatively unchanged against the year before. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +60.7% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, cranks and crankshafts exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China was the key exporting country with an export of around X tons, which accounted for 50% of total exports. South Korea (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Japan (17%) and India (4.9%). Thailand (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the cranks and crankshafts exports, with a CAGR of +17.9% from 2012 to 2022. At the same time, Thailand (+13.2%), India (+10.3%) and South Korea (+3.2%) displayed positive paces of growth. By contrast, Japan (-5.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and India increased by +34 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 75% share of total exports.

India, with a CAGR of +10.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, approximately mirroring the previous year. Overall, the export price recorded a perceptible setback. The growth pace was the most rapid in 2017 when the export price increased by 10% 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 stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.0%), while the other leaders experienced a decline in the export price figures.

Cranks And Crankshafts Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of cranks and crankshafts increased by 2.1% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 22% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports expanded modestly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), China (X tons) and Japan (X tons) represented roughly 58% of total imports in 2022. It was distantly followed by Indonesia (X tons), South Korea (X tons), India (X tons) and Vietnam (X tons), together committing a 29% share of total imports.

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 +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported cranks and crankshafts in Asia-Pacific, comprising 35% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by India, with a 10% share.

In China, cranks and crankshafts imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-1.6% per year) and India (+5.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 6.3% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 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 China ($X per ton), while Thailand ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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