Australia and Oceania: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Australia and Oceania

For the third consecutive year, the iron or steel leaf-spring market in Australia and Oceania recorded growth in sales value, which increased by 7.2% to $X in 2022. Overall, consumption, however, showed a buoyant expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Iron or Steel Leaf-Springs and Leaves in Australia and Oceania

In value terms, iron or steel leaf-spring production contracted markedly to $X in 2022 estimated in export price. In general, production showed a deep setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports in Australia and Oceania

In 2022, approx. X tons of iron or steel leaf-springs and leaves were exported in Australia and Oceania; waning by -28.4% compared with the year before. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 156% against the previous year. The volume of export peaked at X tons in 2021, and then plummeted in the following year.

In value terms, iron or steel leaf-spring exports contracted to $X in 2022. Overall, exports, however, showed a strong expansion. The growth pace was the most rapid in 2021 with an increase of 95%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Australia represented the largest exporting country with an export of about X tons, which finished at 88% of total exports. It was distantly followed by New Zealand (X tons), constituting an 11% share of total exports.

Australia was also the fastest-growing in terms of the iron or steel leaf-springs and leaves exports, with a CAGR of +10.2% from 2012 to 2022. At the same time, New Zealand (+3.9%) displayed positive paces of growth. Australia (+7.3 p.p.) significantly strengthened its position in terms of the total exports, while New Zealand saw its share reduced by -7.5% from 2012 to 2022, respectively.

In value terms, Australia ($X) remains the largest iron or steel leaf-spring supplier in Australia and Oceania, comprising 89% of total exports. The second position in the ranking was held by New Zealand ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled +4.6%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by 32% against the previous year. Overall, the export price, however, recorded a pronounced decline. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.9%).

Imports of Iron or Steel Leaf-Springs and Leaves

Imports in Australia and Oceania

In 2022, overseas purchases of iron or steel leaf-springs and leaves decreased by -5.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 53%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, iron or steel leaf-spring imports rose rapidly to $X in 2022. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Australia dominates imports structure, reaching X tons, which was near 92% of total imports in 2022. It was distantly followed by New Zealand (X tons), generating a 6.6% share of total imports.

Imports into Australia increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, New Zealand (+10.9%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +10.9% from 2012-2022. While the share of New Zealand (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-1.7 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported iron or steel leaf-springs and leaves in Australia and Oceania, comprising 91% of total imports. The second position in the ranking was held by New Zealand ($X), with a 6.7% share of total imports.

In Australia, iron or steel leaf-spring imports expanded at an average annual rate of +5.9% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, picking up by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2018 when the import price increased by 31% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.4%).

Source: IndexBox Platform

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