Eastern Asia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Eastern Asia

The East Asian transmission shaft market dropped to $X in 2022, declining by -4.4% against the previous year. In general, consumption recorded a pronounced reduction. The pace of growth appeared the most rapid in 2019 with an increase of 9.3% against the previous year. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Transmission Shaft Production in Eastern Asia

In value terms, transmission shaft production dropped to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 15%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Transmission Shaft Exports

Exports in Eastern Asia

For the seventh year in a row, Eastern Asia recorded growth in overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, which increased by 5.7% to X tons in 2022. Overall, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by 44%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, transmission shaft exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.4% 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 2021 with an increase of 31%. As a result, the exports attained the peak of $X, and then contracted modestly in the following year.

Exports by Country

In 2022, China (X tons) represented the major exporter of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, creating 71% of total exports. Japan (X tons) ranks second in terms of the total exports with a 15% share, followed by South Korea (8.9%) and Taiwan (Chinese) (5.5%).

China was also the fastest-growing in terms of the transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports, with a CAGR of +14.8% from 2012 to 2022. At the same time, Taiwan (Chinese) (+6.1%) and South Korea (+2.7%) displayed positive paces of growth. By contrast, Japan (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +32 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest transmission shaft supplying countries in Eastern Asia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising 92% of total exports.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +7.0%, saw 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

The export price in Eastern Asia stood at $X per ton in 2022, waning by -7.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when the export price increased by 3.8% 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 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 Taiwan (Chinese) (+0.8%), while the other leaders experienced a decline in the export price figures.

Transmission Shaft Imports

Imports in Eastern Asia

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain imported in Eastern Asia dropped slightly to X tons, shrinking by -3.2% compared with the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports reduced to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, imports attained the peak of $X, and then declined modestly in the following year.

Imports by Country

China (X tons) and Japan (X tons) represented roughly 72% of total imports in 2022. South Korea (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (6.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +0.1%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Eastern Asia, comprising 55% of total imports. The second position in the ranking was held by Japan ($X), with a 22% share of total imports. It was followed by South Korea, with a 16% share.

In China, transmission shaft imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.5% per year) and South Korea (-1.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 6.3%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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