Bangladesh: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Bangladesh

The Bangladeshi gearboxes and speed changers market shrank to $X in 2022, dropping by X% 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, showed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank in the following year.

Exports of Gearboxes and Speed Changers

Exports from Bangladesh

Gearboxes and speed changers exports from Bangladesh dropped remarkably to X tons in 2022, declining by X% against the previous year's figure. In general, exports, however, saw a slight increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted sharply in the following year.

In value terms, gearboxes and speed changers exports declined sharply to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Canada (X tons) was the main destination for gearboxes and speed changers exports from Bangladesh, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to Canada exceeded the volume sent to the second major destination, India (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Mexico (X% per year).

In value terms, Canada ($X) emerged as the key foreign market for gearboxes and speed changers exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Mexico (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($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 Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Bangladesh

In 2022, overseas purchases of gearboxes and speed changers decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers imports dropped to $X in 2022. Over the period under review, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of gearboxes and speed changers to Bangladesh, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Russia (X% per year).

In value terms, China ($X) constituted the largest supplier of gearboxes and speed changers to Bangladesh, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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