Eastern Asia: Shaft Coupling Market 2024

Shaft Coupling Market Size in Eastern Asia

For the fifth consecutive year, the East Asian shaft coupling market recorded decline in sales value, which decreased by -13.5% to $X in 2022. Over the period under review, consumption showed a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the market value increased by 7.8%. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Shaft Coupling Production in Eastern Asia

In value terms, shaft coupling production shrank to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 8.5% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Shaft Coupling Exports

Exports in Eastern Asia

In 2022, the amount of clutches and shaft couplings exported in Eastern Asia skyrocketed to X tons, increasing by 57% on the previous year's figure. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, shaft coupling exports expanded to $X in 2022. The total export value increased at an average annual rate of +3.6% 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 2021 when exports increased by 29%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, recording X tons, which was near 91% of total exports in 2022. It was distantly followed by Japan (X tons), committing a 6.2% share of total exports. South Korea (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the clutches and shaft couplings exports, with a CAGR of +28.6% from 2012 to 2022. Japan experienced a relatively flat trend pattern. South Korea (-3.4%) illustrated a downward trend over the same period. While the share of China (+49 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-14.4 p.p.) and Japan (-29.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest shaft coupling supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Japan ($X), with a 21% share of total exports.

In China, shaft coupling exports increased at an average annual rate of +7.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-2.6% per year) and South Korea (+0.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, waning by -33.1% against the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 6.1% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.1%), while the other leaders experienced a decline in the export price figures.

Shaft Coupling Imports

Imports in Eastern Asia

In 2022, shaft coupling imports in Eastern Asia declined to X tons, waning by -9.3% on the previous year's figure. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 3.3% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, shaft coupling imports dropped to $X in 2022. Over the period under review, imports saw a perceptible decline. The growth pace was the most rapid in 2017 with an increase of 5.7%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China represented the major importer of clutches and shaft couplings in Eastern Asia, with the volume of imports amounting to X tons, which was approx. 44% of total imports in 2022. It was distantly followed by South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together creating a 53% share of total imports. Hong Kong SAR (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of -1.5%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported clutches and shaft couplings in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -1.3%. In the other countries, the average annual rates were as follows: South Korea (-8.7% per year) and Japan (-0.4% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.4% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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