Australia and Oceania: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Australia and Oceania

The cranks and crankshafts market in Australia and Oceania reached $X in 2022, surging by 14% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in Australia and Oceania

In value terms, cranks and crankshafts production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2020 with an increase of 82%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports in Australia and Oceania

In 2022, overseas shipments of cranks and crankshafts increased by 17% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 19%. The volume of export peaked at X tons in 2013; afterwards, it flattened through to 2022.

In value terms, cranks and crankshafts exports soared to $X in 2022. In general, exports, however, continue to indicate a pronounced setback. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the main exporting country with an export of around X tons, which resulted at 79% of total exports. It was distantly followed by New Zealand (X tons), constituting a 21% share of total exports.

Exports from Australia decreased at an average annual rate of -1.4% from 2012 to 2022. At the same time, New Zealand (+8.9%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +8.9% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +12 percentage points.

In value terms, Australia ($X) remains the largest cranks and crankshafts supplier in Australia and Oceania, comprising 79% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at -3.8%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, surging by 6.5% against the previous year. Over the period under review, the export price, however, saw a noticeable reduction. The growth pace was the most rapid in 2020 when the export price increased by 16%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (-2.2%).

Cranks And Crankshafts Imports

Imports in Australia and Oceania

In 2022, overseas purchases of cranks and crankshafts increased by 16% 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 recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 22%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, cranks and crankshafts imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Australia was the key importer of cranks and crankshafts in Australia and Oceania, with the volume of imports recording X tons, which was approx. 70% of total imports in 2022. New Zealand (X tons) held the second position in the ranking, distantly followed by Papua New Guinea (X tons). All these countries together took approx. 28% share of total imports.

Imports into Australia decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Papua New Guinea (+17.9%) and New Zealand (+14.7%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +17.9% from 2012-2022. From 2012 to 2022, the share of New Zealand and Papua New Guinea increased by +13 and +7.4 percentage points, respectively.

In value terms, Australia ($X) constitutes the largest market for imported cranks and crankshafts in Australia and Oceania, comprising 69% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 18% share of total imports.

In Australia, cranks and crankshafts imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+11.6% per year) and Papua New Guinea (+13.1% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, shrinking by -3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 when the import price increased by 12% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Papua New Guinea ($X per ton), while New Zealand ($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 (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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