Estonia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Estonia

The Estonian transmission shaft market surged to $X in 2022, rising by 18% against the previous year. Overall, consumption, however, saw a perceptible decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Transmission Shaft Production in Estonia

In value terms, transmission shaft production reduced dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, saw a dramatic setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Transmission Shaft Exports

Exports from Estonia

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported from Estonia contracted significantly to X tons, which is down by -23.7% compared with 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports dropped to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 108%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for transmission shaft exports from Estonia, with a 41% share of total exports. Moreover, transmission shaft exports to Russia exceeded the volume sent to the second major destination, Latvia (X tons), fourfold. Kazakhstan (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-0.8% per year) and Kazakhstan (+22.4% per year).

In value terms, Russia ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Estonia, comprising 25% of total exports. The second position in the ranking was held by Latvia ($X), with a 12% share of total exports. It was followed by Kazakhstan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-2.2% per year) and Kazakhstan (+37.2% per year).

Export Prices by Country

In 2022, the average transmission shaft export price amounted to $X per ton, with an increase of 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 28% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Estonia

Transmission shaft imports into Estonia rose rapidly to X tons in 2022, increasing by 8.4% on 2021 figures. Overall, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports rose to $X in 2022. Over the period under review, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of 51%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Finland (X tons) were the main suppliers of transmission shaft imports to Estonia, with a combined 53% share of total imports. Italy, India, Sweden, Turkey, Spain, Russia, the United States, Poland, the UK and France lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Finland ($X) constituted the largest transmission shaft suppliers to Estonia, together comprising 43% of total imports. Italy, the United States, Sweden, Poland, Russia, the UK, France, Spain, India and Turkey lagged somewhat behind, together accounting for a further 28%.

India, with a CAGR of +33.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, declining by -4.8% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, transmission shaft import price decreased by -0.9% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform