Bangladesh: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Bangladesh

The Bangladeshi cranks and crankshafts market contracted remarkably to $X in 2022, dropping by -16.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed strong growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Bangladesh

In 2022, approx. X tons of cranks and crankshafts were exported from Bangladesh; with a decrease of -15.5% on the previous year's figure. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 451%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cranks and crankshafts exports declined significantly to $X in 2022. Overall, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 355% against the previous year. The exports peaked at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Malaysia (X tons) was the main destination for cranks and crankshafts exports from Bangladesh, with a 61% share of total exports. Moreover, cranks and crankshafts exports to Malaysia exceeded the volume sent to the second major destination, Finland (X tons), fivefold. Nigeria (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled -17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+41.1% per year) and Nigeria (-8.1% per year).

In value terms, Malaysia ($X), Finland ($X) and the United Arab Emirates ($X) appeared to be the largest markets for cranks and crankshafts exported from Bangladesh worldwide, with a combined 91% share of total exports.

Finland, with a CAGR of +49.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, waning by -14.9% against the previous year. In general, the export price, however, posted slight growth. The most prominent rate of growth was recorded in 2014 an increase of 45%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.

Cranks And Crankshafts Imports

Imports into Bangladesh

Cranks and crankshafts imports into Bangladesh contracted to X tons in 2022, waning by -14.7% compared with the year before. Over the period under review, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 95%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, cranks and crankshafts imports fell significantly to $X in 2022. Overall, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 147% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cranks and crankshafts to Bangladesh, accounting for a 77% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. The third position in this ranking was taken by Singapore (X tons), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.8% per year) and Singapore (+19.7% per year).

In value terms, China ($X), India ($X) and Finland ($X) were the largest cranks and crankshafts suppliers to Bangladesh, with a combined 68% share of total imports. Singapore and Hong Kong SAR lagged somewhat behind, together accounting for a further 9.5%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +21.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, shrinking by -4% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :