Eastern Asia: Market for Toothed wheels, chain sprockets and other transmission elements 2025

Market Size for Toothed wheels, chain sprockets and other transmission elements in Eastern Asia

In 2021, the East Asian market for toothed wheels, chain sprockets and other transmission elements decreased by -10.4% to $X, falling for the third consecutive year after two years of growth. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in Eastern Asia

In value terms, production of toothed wheels, chain sprockets and other transmission elements amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production of attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports in Eastern Asia

In 2021, shipments abroad of toothed wheels, chain sprockets and other transmission elements was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements surged to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some 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

China dominates elements structure, recording X tons, which was near 85% of total exports in 2021. It was distantly followed by South Korea (X tons), comprising a 7% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and Japan (X tons) - each finished at a 7.9% share of total exports.

Exports from China increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, South Korea (+10.2%) and Taiwan (Chinese) (+4.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.2% from 2012-2021. By contrast, Japan (-1.9%) illustrated a downward trend over the same period. While the share of South Korea (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest toothed wheels, chain sprockets and other transmission elements supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Japan ($X), with a 10% share of total exports. It was followed by Taiwan (Chinese), with a 9.6% share.

In China, exports of toothed wheels, chain sprockets and other transmission elements increased at an average annual rate of +6.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.5% per year) and Taiwan (Chinese) (+6.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 2.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 4.5%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports in Eastern Asia

In 2021, purchases abroad of toothed wheels, chain sprockets and other transmission elements was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the major importer of toothed wheels, chain sprockets and other transmission elements, achieving 56% of total imports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together held approx. 43% share of total imports.

China was also the fastest-growing in terms of the toothed wheels, chain sprockets and other transmission elements imports, with a CAGR of +4.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+3.8%) and South Korea (+2.2%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (+8.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-8.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported toothed wheels, chain sprockets and other transmission elements in Eastern Asia, comprising 75% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by South Korea, with a 6.1% share.

In China, imports of toothed wheels, chain sprockets and other transmission elements expanded at an average annual rate of +5.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.1% per year) and South Korea (-1.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, reducing by -4.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 an increase of 12%. The level of import peaked at $X per ton in 2020, and then contracted slightly in the following year.

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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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