Australia and Oceania: Gear Box Market 2024

Gear Box Market Size in Australia and Oceania

In 2022, the gear box market in Australia and Oceania increased by 1% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Gear Box Production in Australia and Oceania

In value terms, gear box production dropped modestly to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 28% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gear Box Exports

Exports in Australia and Oceania

In 2022, overseas shipments of gear boxes increased by 32% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, saw a abrupt decline. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, gear box exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a abrupt contraction. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia represented the major exporting country with an export of around X units, which finished at 80% of total exports. It was distantly followed by New Zealand (X units), constituting a 17% share of total exports.

Exports from Australia decreased at an average annual rate of -14.4% from 2012 to 2022. At the same time, New Zealand (+9.5%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +9.5% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +15 percentage points.

In value terms, Australia ($X) remains the largest gear box supplier in Australia and Oceania, comprising 80% of total exports. The second position in the ranking was held by New Zealand ($X), with an 18% share of total exports.

In Australia, gear box exports shrank by an average annual rate of -12.9% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2022, rising by 7.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 30% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 unit), while Australia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.7%).

Gear Box Imports

Imports in Australia and Oceania

In 2022, overseas purchases of gear boxes increased by 9.6% to X units, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, gear box imports amounted to $X in 2022. Overall, imports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Australia prevails in imports structure, amounting to X units, which was near 88% of total imports in 2022. It was distantly followed by New Zealand (X units), making up a 7.2% share of total imports. Papua New Guinea (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gear box imports into Australia stood at -4.7%. At the same time, New Zealand (+9.5%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +9.5% from 2012-2022. Papua New Guinea experienced a relatively flat trend pattern. New Zealand (+5.3 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -7.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported gear boxes in Australia and Oceania, comprising 89% of total imports. The second position in the ranking was held by New Zealand ($X), with a 7.3% share of total imports.

In Australia, gear box imports declined by an average annual rate of -5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+1.8% per year) and Papua New Guinea (+1.4% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per unit, waning by -7.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 18% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices remained at a lower figure.

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 ($X per unit), while Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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