China: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in China

In 2022, the Chinese cranks and crankshafts market decreased by -2.5% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2016 with an increase of 7.1% against the previous year. Cranks and crankshafts consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in China

In value terms, cranks and crankshafts production reduced slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 6.1% against the previous year. Cranks and crankshafts production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from China

For the fifth consecutive year, China recorded growth in shipments abroad of cranks and crankshafts, which increased by 4.2% to X tons in 2022. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 68%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cranks and crankshafts exports totaled $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +48.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Japan (X tons) and India (X tons) were the main destinations of cranks and crankshafts exports from China, together comprising 37% of total exports. Thailand, South Korea, Brazil, Mexico, Vietnam, Germany, Italy, the Netherlands, Russia and Indonesia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +44.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cranks and crankshafts exports from China, comprising 21% of total exports. The second position in the ranking was held by Japan ($X), with a 7.8% share of total exports. It was followed by India, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.2% per year) and India (+6.1% per year).

Export Prices by Country

In 2022, the average cranks and crankshafts export price amounted to $X per ton, surging by 5.2% against the previous year. In general, the export price, however, recorded a deep downturn. The growth pace was the most rapid in 2017 an increase of 8.2% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Japan ($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 Mexico (-7.0%), while the prices for the other major destinations experienced a decline.

Cranks And Crankshafts Imports

Imports into China

In 2022, supplies from abroad of cranks and crankshafts decreased by -7.9% to X tons, falling for the fourth consecutive year after five years of growth. In general, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 when imports increased by 17%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cranks and crankshafts imports fell to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Japan (X tons), Germany (X tons) and South Korea (X tons) were the main suppliers of cranks and crankshafts imports to China, together accounting for 68% of total imports. The United States, India, Italy and France lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +2.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Japan ($X) and the United States ($X) were the largest cranks and crankshafts suppliers to China, with a combined 61% share of total imports. South Korea, France, Italy and India lagged somewhat behind, together accounting for a further 16%.

France, with a CAGR of +12.8%, 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

In 2022, the average cranks and crankshafts import price amounted to $X per ton, surging by 2.9% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 import price increased by +74.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 32% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($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 United States (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :