Belgium: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Belgium

The Belgian cranks and crankshafts market declined to $X in 2022, with a decrease of -2.1% against the previous year. Overall, consumption recorded a perceptible downturn. Cranks and crankshafts consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Belgium

In value terms, cranks and crankshafts production stood at $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 37%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Belgium

In 2022, shipments abroad of cranks and crankshafts decreased by -66.1% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 with an increase of 51%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports shrank sharply to $X in 2022. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons), the UK (X tons) and the United Arab Emirates (X tons) were the main destinations of cranks and crankshafts exports from Belgium, with a combined 30% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +36.4%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for cranks and crankshafts exported from Belgium worldwide, together comprising 32% of total exports. Germany, Spain, the UK, Italy, Hungary, the United Arab Emirates, Poland, China, the Czech Republic and Brazil lagged somewhat behind, together comprising a further 38%.

The United Arab Emirates, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average cranks and crankshafts export price amounted to $X per ton, growing by 57% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price increased by +64.8% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Brazil ($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 Germany (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Belgium

In 2022, overseas purchases of cranks and crankshafts decreased by -50.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 78% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 58% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and China (X tons) were the main suppliers of cranks and crankshafts imports to Belgium, with a combined 44% share of total imports. Italy, Sweden, India, the United States, the Netherlands, Denmark, Romania, France and the UK lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +65.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Turkey ($X) constituted the largest cranks and crankshafts suppliers to Belgium, together accounting for 49% of total imports. China, the United States, India, the Netherlands, France, Denmark, the UK, Sweden and Romania lagged somewhat behind, together comprising a further 36%.

Among the main suppliers, Romania, with a CAGR of +55.6%, 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

In 2022, the average cranks and crankshafts import price amounted to $X per ton, with an increase of 35% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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