Belgium: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Belgium

The Belgian tow-behind air compressor market skyrocketed to $X in 2022, rising by 729% against the previous year. In general, consumption saw a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tow-Behind Air Compressor Production in Belgium

In value terms, tow-behind air compressor production fell markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a sharp downturn. The pace of growth appeared the most rapid in 2013 with an increase of 93%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Tow-Behind Air Compressor Exports

Exports from Belgium

In 2022, the amount of air compressors mounted on a wheeled chassis for towing exported from Belgium surged to X units, jumping by 21% compared with the year before. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tow-behind air compressor exports skyrocketed to $X in 2022. Overall, exports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2017 when exports increased by 30% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Italy (X units) and Switzerland (X units) were the main destinations of tow-behind air compressor exports from Belgium, with a combined 36% share of total exports. Germany, the Netherlands, Russia, the United States, Sweden, South Korea, the UK, Spain, South Africa and Poland lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +40.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and South Korea ($X) were the largest markets for tow-behind air compressor exported from Belgium worldwide, with a combined 31% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +44.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tow-behind air compressor export price stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+6.5%), while the prices for the other major destinations experienced mixed trend patterns.

Tow-Behind Air Compressor Imports

Imports into Belgium

In 2022, approx. X units of air compressors mounted on a wheeled chassis for towing were imported into Belgium; growing by 17% against 2021 figures. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 48% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, tow-behind air compressor imports skyrocketed to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 39% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of tow-behind air compressor to Belgium, accounting for a 83% share of total imports. Moreover, tow-behind air compressor imports from Italy exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), eightfold. The third position in this ranking was taken by Germany (X units), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.0% per year) and Germany (-1.1% per year).

In value terms, Italy ($X), Germany ($X) and the Netherlands ($X) were the largest tow-behind air compressor suppliers to Belgium, together comprising 59% of total imports.

The Netherlands, with a CAGR of +12.7%, recorded the highest growth rate of the value of imports, in terms of 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 tow-behind air compressor import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2013 an increase of 72%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat 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 France ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :