Eastern Asia: Gear Box Market 2025

Gear Box Market Size in Eastern Asia

After two years of decline, the East Asian gear box market increased by 1.4% to $X in 2022. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.8% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Gear Box Production in Eastern Asia

In value terms, gear box production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Gear Box Exports

Exports in Eastern Asia

In 2022, gear box exports in Eastern Asia dropped slightly to X units, waning by -2.9% against the year before. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, gear box exports fell to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Japan represented the main exporter of gear boxes in Eastern Asia, with the volume of exports finishing at X units, which was near 60% of total exports in 2022. China (X units) ranks second in terms of the total exports with a 21% share, followed by South Korea (18%).

Japan experienced a relatively flat trend pattern with regard to volume of exports of gear boxes. At the same time, China (+9.1%) and South Korea (+4.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.1% from 2012-2022. While the share of China (+10 p.p.) and South Korea (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-14.6 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest gear box supplier in Eastern Asia, comprising 69% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Japan totaled -2.1%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+4.4% per year) and China (+7.0% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, declining by -8.7% against the previous year. Over the period under review, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2016 an increase of 2.1%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.3%), while the other leaders experienced a decline in the export price figures.

Gear Box Imports

Imports in Eastern Asia

In 2022, overseas purchases of gear boxes increased by 12% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 17%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, gear box imports fell remarkably to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 14%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China prevails in imports structure, resulting at X units, which was near 81% of total imports in 2022. South Korea (X units) took the second position in the ranking, followed by Japan (X units). All these countries together held approx. 15% share of total imports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the gear boxes imports, with a CAGR of +3.6% from 2012 to 2022. At the same time, South Korea (+1.2%) displayed positive paces of growth. By contrast, Japan (-1.3%) and Taiwan (Chinese) (-2.5%) illustrated a downward trend over the same period. China (+6.8 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Japan saw its share reduced by -2.4% and -3.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported gear boxes in Eastern Asia, comprising 81% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.1% share of total imports. It was followed by Japan, with a 6.5% share.

In China, gear box imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+0.5% per year) and Japan (-3.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, shrinking by -24.2% against the previous year. Overall, the import price saw a perceptible descent. The growth pace was the most rapid in 2021 an increase of 11%. As a result, import price reached the peak level of $X per unit, and then contracted remarkably in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per unit) and South Korea ($X per unit), while Taiwan (Chinese) ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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