Belgium: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Belgium

The Belgian gearboxes and speed changers market expanded rapidly to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, showed a prominent expansion. Gearboxes and speed changers consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Gearboxes and Speed Changers in Belgium

In value terms, gearboxes and speed changers production reduced dramatically to $X in 2022 estimated in export price. In general, production faced a precipitous setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Gearboxes and speed changers production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Belgium

After two years of growth, shipments abroad of gearboxes and speed changers decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, gearboxes and speed changers exports contracted significantly to $X in 2022. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), the United States (X tons) and Denmark (X tons) were the main destinations of gearboxes and speed changers exports from Belgium, together comprising X% 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 Denmark (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for gearboxes and speed changers exported from Belgium were the United States ($X), Germany ($X) and China ($X), with a combined X% share of total exports. Denmark, France, Finland, the Netherlands, Sweden, Italy, Spain and Brazil lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Denmark, with a CAGR of X%, saw the highest growth rate of 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 gearboxes and speed changers export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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

Imports of Gearboxes and Speed Changers

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of gearboxes and speed changers, when their volume decreased by X% to X tons. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, gearboxes and speed changers imports fell rapidly to $X in 2022. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Italy (X tons) and India (X tons) were the main suppliers of gearboxes and speed changers imports to Belgium, with a combined X% share of total imports. China, Denmark, the Netherlands, the United States, Turkey, France and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest gearboxes and speed changers suppliers to Belgium were Germany ($X), Italy ($X) and the United States ($X), with a combined X% share of total imports. India, the Netherlands, China, Denmark, France, Turkey and the UK lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw 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 gearboxes and speed changers import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Denmark ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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