Costa Rica: Transmission Shaft Market 2024

Transmission Shaft Market Size in Costa Rica

In 2022, the Costa Rican transmission shaft market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Transmission shaft consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Costa Rica

After three years of growth, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -17.5% to X tons in 2022. Overall, exports, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2014 when exports increased by 80%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, transmission shaft exports expanded rapidly to $X in 2022. In general, exports, however, recorded a slight increase. The growth pace was the most rapid in 2015 when exports increased by 83%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Spain (X tons) and the United States (X tons) were the main destinations of transmission shaft exports from Costa Rica, together comprising 60% 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 Mexico (with a CAGR of +20.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for transmission shaft exported from Costa Rica were South Korea ($X), the United States ($X) and Panama ($X), with a combined 45% share of total exports. Honduras, Mexico, Nicaragua and Spain lagged somewhat behind, together comprising a further 30%.

Honduras, with a CAGR of +42.5%, 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 transmission shaft export price stood at $X per ton in 2022, jumping by 30% against the previous year. Over the period under review, the export price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2013 an increase of 62%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Spain ($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 Honduras (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Costa Rica

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain imported into Costa Rica stood at X tons, surging by 3.7% on the previous year. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.9% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39% against the previous year. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, transmission shaft imports expanded to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 34% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of transmission shaft imports to Costa Rica, together accounting for 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Costa Rica, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Japan, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Japan (-7.8% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, declining by -1.9% against the previous year. Overall, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 an increase of 5.7% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform