Bangladesh: Ship Propeller Market 2025

Ship Propeller Market Size in Bangladesh

The Bangladeshi ship propeller market contracted to $X in 2022, shrinking by -14.1% against the previous year. Overall, consumption, however, enjoyed resilient growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ship Propeller Production in Bangladesh

In value terms, ship propeller production rose notably to $X in 2022 estimated in export price. Over the period under review, production recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 270%. Ship propeller production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ship Propeller Exports

Exports from Bangladesh

Ship propeller exports from Bangladesh skyrocketed to X tons in 2022, with an increase of 591% compared with 2021. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ship propeller exports surged to $X in 2022. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for ship propeller exports from Bangladesh, with a 97% share of total exports. It was followed by the United Arab Emirates (X kg), with a 1.9% share of total exports. Thailand (X kg) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+30.9% per year) and Thailand (-25.0% per year).

In value terms, India ($X) emerged as the key foreign market for ships’ or boats’ propellers and blades therefor exports from Bangladesh, comprising 96% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.3% share of total exports. It was followed by Singapore, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.1% per year) and Singapore (-11.6% per year).

Export Prices by Country

In 2022, the average ship propeller export price amounted to $X per ton, with an increase of 182% against the previous year. Over the period under review, the export price continues to indicate a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($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 Saudi Arabia (+141.4%), while the prices for the other major destinations experienced mixed trend patterns.

Ship Propeller Imports

Imports into Bangladesh

In 2022, approx. X tons of ships’ or boats’ propellers and blades therefor were imported into Bangladesh; with a decrease of -18.1% compared with 2021 figures. Overall, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 190%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, ship propeller imports dropped sharply to $X in 2022. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2017 with an increase of 68% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) constituted the largest ship propeller supplier to Bangladesh, accounting for a 38% share of total imports. Moreover, ship propeller imports from Sweden exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden stood at +125.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.5% per year) and the UK (+29.0% per year).

In value terms, the largest ship propeller suppliers to Bangladesh were Sweden ($X), the UK ($X) and China ($X), together comprising 76% of total imports.

Sweden, with a CAGR of +58.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 an increase of 23%. Over the period under review, average 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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