Dominican Republic: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in the Dominican Republic

In 2022, the Dominican gearboxes and speed changers market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports from the Dominican Republic

Gearboxes and speed changers exports from the Dominican Republic contracted dramatically to X tons in 2022, with a decrease of X% on the previous year. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, gearboxes and speed changers exports shrank notably to $X in 2022. Overall, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for gearboxes and speed changers exports from the Dominican Republic, with a X% share of total exports. Moreover, gearboxes and speed changers exports to the United States exceeded the volume sent to the second major destination, Peru (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (X% per year) and Haiti (X% per year).

In value terms, the United States ($X) remains the key foreign market for gearboxes and speed changers exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Haiti ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and Peru (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average 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 Haiti ($X per ton), while the average price for exports to Peru ($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 Haiti (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Gearboxes and Speed Changers

Imports into the Dominican Republic

In 2022, supplies from abroad of gearboxes and speed changers increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, gearboxes and speed changers imports rose rapidly to $X in 2022. Overall, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of gearboxes and speed changers imports to the Dominican Republic, with a combined X% share of total imports. Spain, Brazil, Canada, Finland, Mexico, India, Germany, South Korea and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of gearboxes and speed changers to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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