Australia and Oceania: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Australia and Oceania

The steering wheels and columns market in Australia and Oceania surged to $X in 2022, growing by 17% against the previous year. Over the period under review, consumption, however, recorded a noticeable reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Australia and Oceania

In value terms, steering wheels and columns production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 11%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports in Australia and Oceania

In 2022, exports of steering wheels, steering columns and steering boxes in Australia and Oceania shrank to X tons, declining by -14.7% on the year before. Overall, exports saw a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 90%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports fell to $X in 2022. Over the period under review, exports saw a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 129%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Australia was the major exporting country with an export of around X tons, which resulted at 86% of total exports. It was distantly followed by New Zealand (X tons), generating a 13% share of total exports.

Exports from Australia decreased at an average annual rate of -6.8% from 2012 to 2022. At the same time, New Zealand (+4.9%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +4.9% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +8.4 percentage points.

In value terms, Australia ($X) remains the largest steering wheels and columns supplier in Australia and Oceania, comprising 86% of total exports. The second position in the ranking was held by New Zealand ($X), with a 13% share of total exports.

In Australia, steering wheels and columns exports contracted by an average annual rate of -14.6% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by 9.1% against the previous year. In general, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2016 an increase of 41% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 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 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 (+1.5%).

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports in Australia and Oceania

In 2022, imports of steering wheels, steering columns and steering boxes in Australia and Oceania soared to X tons, picking up by 17% compared with the previous year's figure. Overall, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, steering wheels and columns imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 28% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Australia prevails in imports structure, reaching X tons, which was approx. 86% of total imports in 2022. It was distantly followed by New Zealand (X tons), generating a 9.2% share of total imports. Fiji (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to steering wheels and columns imports into Australia stood at -3.2%. At the same time, New Zealand (+13.7%) and Fiji (+9.8%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +13.7% from 2012-2022. New Zealand (+7.2 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -9.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported steering wheels, steering columns and steering boxes in Australia and Oceania, comprising 87% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 9.3% share of total imports.

In Australia, steering wheels and columns imports decreased by an average annual rate of -4.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+7.0% per year) and Fiji (+19.6% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, remaining constant against the previous year. Overall, the import price showed a slight setback. The most prominent rate of growth was recorded in 2014 an increase of 38% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Fiji (+9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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