Asia-Pacific: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Asia-Pacific

In 2021, the Asia-Pacific driving and non-driving axle market decreased by -1.5% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, enjoyed strong growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Drive-Axles with Differential and Non-Driving Axles in Asia-Pacific

In value terms, driving and non-driving axle production stood at $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports in Asia-Pacific

In 2021, overseas shipments of drive-axles with differential and non-driving axles increased by 50% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle exports soared to $X in 2021. The total export value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of drive-axles with differential and non-driving axles, committing 39% of total exports. South Korea (X tons) held the second position in the ranking, followed by Japan (X tons), India (X tons) and Thailand (X tons). All these countries together held near 57% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +20.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest driving and non-driving axle supplying countries in Asia-Pacific were Japan ($X), China ($X) and South Korea ($X), together comprising 78% of total exports. India, Thailand and Indonesia lagged somewhat behind, together comprising a further 18%.

Among the main exporting countries, India, with a CAGR of +18.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, stabilizing at the previous year. Overall, the export price recorded a mild slump. The pace of growth appeared the most rapid in 2014 an increase of 7.2%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports in Asia-Pacific

In 2021, overseas purchases of drive-axles with differential and non-driving axles were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) and Thailand (X tons) represented the largest importers of drive-axles with differential and non-driving axles in Asia-Pacific, together committing 42% of total imports. Indonesia (X tons) ranks next in terms of the total imports with an 11% share, followed by Japan (10%), South Korea (7.4%), Malaysia (7%) and India (5.6%). The following importers - Taiwan (Chinese) (X tons) and Australia (X tons) - each accounted for an 8.7% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +10.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported drive-axles with differential and non-driving axles in Asia-Pacific, comprising 33% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports. It was followed by Indonesia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +6.8%. In the other countries, the average annual rates were as follows: Thailand (+1.3% per year) and Indonesia (+1.6% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, remaining constant against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 7.2% against the previous year. The level of import peaked at $X per ton in 2020, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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