Dominican Republic: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in the Dominican Republic

The Dominican driving and non-driving axle market skyrocketed to $X in 2021, with an increase of 69% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a relatively flat trend pattern. Driving and non-driving axle consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from the Dominican Republic

In 2021, overseas shipments of drive-axles with differential and non-driving axles were finally on the rise to reach X tons after three years of decline. In general, exports posted a moderate increase. The pace of growth was the most pronounced in 2014 with an increase of 222%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, driving and non-driving axle exports surged to $X in 2021. Over the period under review, exports saw strong growth. The pace of growth appeared the most rapid in 2014 when exports increased by 194%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X tons) was the main destination for driving and non-driving axle exports from the Dominican Republic, accounting for a 59% share of total exports. Moreover, driving and non-driving axle exports to Haiti exceeded the volume sent to the second major destination, Cuba (X kg), fivefold. Spain (X kg) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to Haiti stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+45.4% per year) and Spain (+20.1% per year).

In value terms, the largest markets for driving and non-driving axle exported from the Dominican Republic were Haiti ($X), Chile ($X) and Spain ($X), together accounting for 75% of total exports. Venezuela, Cuba and the United States lagged somewhat behind, together comprising a further 13%.

Among the main countries of destination, Venezuela, with a CAGR of +43.6%, recorded the highest growth rate of 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

The average driving and non-driving axle export price stood at $X per ton in 2021, growing by 34% against the previous year. Overall, the export price recorded a temperate expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+45.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into the Dominican Republic

In 2021, the amount of drive-axles with differential and non-driving axles imported into the Dominican Republic surged to X tons, jumping by 114% compared with the previous year. Over the period under review, imports recorded pronounced growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle imports soared to $X in 2021. In general, imports, however, continue to indicate a noticeable decrease. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of driving and non-driving axle to the Dominican Republic, with a 74% share of total imports. Moreover, driving and non-driving axle imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.6% per year) and Japan (-5.6% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) were the largest driving and non-driving axle suppliers to the Dominican Republic, together comprising 73% of total imports.

China, with a CAGR of +4.2%, 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 a decline.

Import Prices by Country

The average driving and non-driving axle import price stood at $X per ton in 2021, dropping by -30% against the previous year. Over the period under review, the import price showed a pronounced slump. The most prominent rate of growth was recorded in 2016 an increase of 40% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+15.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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