China: Gear Box Market 2025

Gear Box Market Size in China

In 2022, the Chinese gear box market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 -3.8% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Gear Box Production in China

In value terms, gear box production stood at $X in 2022 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 -0.3% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 31%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Gear Box Exports

Exports from China

In 2022, exports of gear boxes from China skyrocketed to X units, increasing by 27% on 2021. Overall, exports posted resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 62% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, gear box exports expanded remarkably to $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +58.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units), South Korea (X units) and the United Arab Emirates (X units) were the main destinations of gear box exports from China, together accounting for 40% 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 +51.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gear box exported from China were South Korea ($X), the United States ($X) and Germany ($X), together comprising 23% of total exports. Indonesia, the United Arab Emirates, Mexico, Japan, Thailand, Slovakia, Brazil, Canada, Italy and Vietnam lagged somewhat behind, together accounting for a further 33%.

The United Arab Emirates, with a CAGR of +55.3%, saw the highest growth rate of 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

The average gear box export price stood at $X per unit in 2022, declining by -15% against the previous year. Over the period under review, the export price saw a slight descent. The growth pace was the most rapid in 2014 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to the United Arab Emirates ($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 United Arab Emirates (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into China

In 2022, after three years of decline, there was significant growth in supplies from abroad of gear boxes, when their volume increased by 17% to X units. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 22%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, gear box imports declined sharply to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), Japan (X units) and the United States (X units) were the main suppliers of gear box imports to China, together comprising 80% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +21.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), Germany ($X) and the United States ($X) appeared to be the largest gear box suppliers to China, together comprising 78% of total imports.

The United States, with a CAGR of +11.2%, saw the highest rates of growth with regard to 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 gear box import price stood at $X per unit in 2022, with a decrease of -28.8% against the previous year. Over the period under review, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per unit, and then shrank remarkably in the following year.

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 ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+16.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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