Benelux: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Benelux

For the third year in a row, the Benelux steering wheels and columns market recorded decline in sales value, which decreased by -1.1% to $X in 2022. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -21.6% against 2017 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Benelux

In value terms, steering wheels and columns production shrank to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 105% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports in Benelux

In 2022, after three years of growth, there was significant decline in shipments abroad of steering wheels, steering columns and steering boxes, when their volume decreased by -13.9% to X tons. Overall, exports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, steering wheels and columns exports declined dramatically to $X in 2022. In general, exports, however, recorded perceptible growth. The pace of growth was the most pronounced in 2021 with an increase of 95% against the previous year. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

Belgium represented the major exporter of steering wheels, steering columns and steering boxes in Benelux, with the volume of exports recording X tons, which was near 65% of total exports in 2022. It was distantly followed by the Netherlands (X tons), comprising a 34% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Netherlands (with a CAGR of +21.0%).

In value terms, Belgium ($X) remains the largest steering wheels and columns supplier in Benelux, comprising 68% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium stood at +1.1%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, declining by -19.4% against the previous year. In general, the export price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2014 when the export price increased by 12%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.1%).

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports in Benelux

In 2022, imports of steering wheels, steering columns and steering boxes in Benelux was estimated at X tons, approximately reflecting the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, steering wheels and columns imports reduced to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 39% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

Belgium represented the main importing country with an import of around X tons, which resulted at 64% of total imports. It was distantly followed by the Netherlands (X tons), committing a 35% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +9.0%).

In value terms, Belgium ($X) constitutes the largest market for imported steering wheels, steering columns and steering boxes in Benelux, comprising 70% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 29% share of total imports.

In Belgium, steering wheels and columns imports remained relatively stable over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, dropping by -8.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.7%).

Source: IndexBox Platform