EU: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in the EU

The EU cranks and crankshafts market declined slightly to $X in 2022, dropping by -3.3% against the previous year. Over the period under review, consumption saw a noticeable slump. The pace of growth was the most pronounced in 2020 with an increase of 7.4% against the previous year. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in the EU

In value terms, cranks and crankshafts production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 22%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Cranks And Crankshafts Exports

Exports in the EU

In 2022, approx. X tons of cranks and crankshafts were exported in the European Union; surging by 3.5% compared with 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 13%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Germany was the key exporter of cranks and crankshafts in the European Union, with the volume of exports recording X tons, which was approx. 51% of total exports in 2022. Spain (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Italy (7.9%), France (7.5%) and Poland (6.7%). The following exporters - Slovakia (X tons), Hungary (X tons) and Denmark (X tons) - together made up 6.5% of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of cranks and crankshafts. At the same time, Denmark (+13.2%), Poland (+5.0%), Italy (+3.1%), Spain (+1.6%), France (+1.3%) and Slovakia (+1.2%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +13.2% from 2012-2022. Hungary experienced a relatively flat trend pattern. While the share of Poland (+2.6 p.p.), Italy (+2.1 p.p.), Germany (+2.1 p.p.) and Spain (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest cranks and crankshafts supplier in the European Union, comprising 54% of total exports. The second position in the ranking was held by Italy ($X), with an 8% share of total exports. It was followed by France, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in Germany stood at +1.5%. In the other countries, the average annual rates were as follows: Italy (+4.4% per year) and France (+2.6% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2013 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.7%), while the other leaders experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports in the EU

In 2022, overseas purchases of cranks and crankshafts increased by 6.6% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cranks and crankshafts imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 17% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany represented the key importing country with an import of about X tons, which amounted to 29% of total imports. Poland (X tons) held the second position in the ranking, followed by Hungary (X tons), Austria (X tons), Italy (X tons), France (X tons), Sweden (X tons) and Spain (X tons). All these countries together held approx. 51% share of total imports. The following importers - Slovakia (X tons), Finland (X tons), Romania (X tons), the Czech Republic (X tons) and the Netherlands (X tons) - together made up 17% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cranks and crankshafts imports into Germany stood at +2.9%. At the same time, Hungary (+7.6%), Finland (+5.6%), the Netherlands (+4.8%), Romania (+3.7%), Italy (+3.2%) and Poland (+2.5%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the European Union, with a CAGR of +7.6% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, Spain (-1.9%), France (-2.6%), Sweden (-2.9%), the Czech Republic (-6.7%) and Slovakia (-11.6%) illustrated a downward trend over the same period. While the share of Germany (+7.2 p.p.), Hungary (+4.4 p.p.), Poland (+2.3 p.p.), Italy (+2 p.p.) and Finland (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sweden (-1.8 p.p.), France (-1.9 p.p.), the Czech Republic (-3.1 p.p.) and Slovakia (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported cranks and crankshafts in the European Union, comprising 26% of total imports. The second position in the ranking was taken by Poland ($X), with an 11% share of total imports. It was followed by France, with a 10% share.

In Germany, cranks and crankshafts imports expanded at an average annual rate of +2.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+3.7% per year) and France (+1.5% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 an increase of 9.3%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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