Czech Republic: Gear Box Market 2024

Gear Box Market Size in the Czech Republic

In 2022, the Czech gear box market increased by 6.5% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption showed a resilient expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Gear Box Production in the Czech Republic

In value terms, gear box production totaled $X in 2022 estimated in export price. In general, production enjoyed a strong increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 119%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports from the Czech Republic

In 2022, approx. X units of gear boxes were exported from the Czech Republic; reducing by -8% on 2021. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 22% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, gear box exports reduced to $X in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 46% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Spain (X units) and Slovakia (X units) were the main destinations of gear box exports from the Czech Republic, with a combined 68% share of total exports. South Africa, India, Russia and Portugal lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +45.8%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and Slovakia ($X) were the largest markets for gear box exported from the Czech Republic worldwide, together accounting for 67% of total exports. India, South Africa, Russia and Portugal lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Portugal, with a CAGR of +55.8%, saw the highest rates of growth with regard to 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

In 2022, the average gear box export price amounted to $X per unit, declining by -5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 20% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per unit) and Russia ($X per unit), while the average price for exports to Portugal ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into the Czech Republic

In 2022, supplies from abroad of gear boxes was finally on the rise to reach X units after two years of decline. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 28% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, gear box imports expanded modestly to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.1% against 2013 indices. The pace of growth was the most pronounced in 2014 with an increase of 15% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of gear box to the Czech Republic, with a 50% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. Japan (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.2% per year) and Japan (+7.1% per year).

In value terms, Germany ($X) constituted the largest supplier of gear boxes to the Czech Republic, comprising 48% of total imports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total imports. It was followed by Poland, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.1% per year) and Poland (-0.3% per year).

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, falling by -5.5% against the previous year. In general, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 12%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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