Eastern Asia: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Eastern Asia

In 2021, the East Asian flywheels and pulleys market decreased by -1.5% to $X, falling for the fourth year in a row after two years of growth. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Flywheels And Pulleys Production in Eastern Asia

In value terms, flywheels and pulleys production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Flywheels And Pulleys Exports

Exports in Eastern Asia

In 2021, overseas shipments of flywheels and pulleys increased by 44% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +48.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flywheels and pulleys exports surged to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of flywheels and pulleys, mixing up 43% of total exports. South Korea (X tons) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Japan (26%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +18.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 93% share of total exports. These countries were followed by Taiwan (Chinese), which accounted for a further 6.9%.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +17.2%, recorded 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 2021, the export price in Eastern Asia amounted to $X per ton, reducing by -7% against the previous year. Overall, the export price showed a deep setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.4%), while the other leaders experienced a decline in the export price figures.

Flywheels And Pulleys Imports

Imports in Eastern Asia

In 2021, purchases abroad of flywheels and pulleys increased by 18% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports showed mild growth. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) was the key importer of flywheels and pulleys, creating 50% of total imports. South Korea (X tons) held the second position in the ranking, followed by China (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 50% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of flywheels and pulleys. At the same time, China (+3.6%) and Taiwan (Chinese) (+1.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +3.6% from 2012-2021. South Korea experienced a relatively flat trend pattern. From 2012 to 2021, the share of China increased by +3.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest flywheels and pulleys importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 95% share of total imports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 4.4%.

Taiwan (Chinese), with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 2.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 5.6%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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