EU: Gear Box Market 2025

Gear Box Market Size in the EU

In 2022, the EU gear box market decreased by -13.7% to $X, falling for the fourth consecutive year after five years of growth. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Gear Box Production in the EU

In value terms, gear box production declined slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 11%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Gear Box Exports

Exports in the EU

In 2022, the amount of gear boxes exported in the European Union dropped modestly to X units, declining by -2% compared with the previous year. The total export volume 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 growth pace was the most rapid in 2016 when exports increased by 13%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, gear box exports declined to $X in 2022. The total export value increased at an average annual rate of +3.6% over the period 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 2017 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Germany was the major exporter of gear boxes in the European Union, with the volume of exports recording X units, which was near 48% of total exports in 2022. It was distantly followed by France (X units), Romania (X units), Italy (X units) and Belgium (X units), together mixing up a 28% share of total exports. Hungary (X units), Poland (X units), Sweden (X units), the Czech Republic (X units), Spain (X units), Slovakia (X units) and Austria (X units) took a relatively small share of total exports.

Exports from Germany increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Belgium (+24.8%), Romania (+19.5%), Hungary (+13.0%), Slovakia (+5.2%), the Czech Republic (+3.2%), Italy (+2.0%) and Sweden (+1.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +24.8% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Poland (-1.9%), Austria (-1.9%) and Spain (-4.2%) illustrated a downward trend over the same period. While the share of Romania (+5.2 p.p.), Belgium (+4.8 p.p.) and Hungary (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Poland (-2.7 p.p.), Spain (-2.7 p.p.) and France (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest gear box supplier in the European Union, comprising 55% of total exports. The second position in the ranking was held by France ($X), with a 7.8% share of total exports. It was followed by Romania, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Germany totaled +3.5%. The remaining exporting countries recorded the following average annual rates of exports growth: France (-0.9% per year) and Romania (+25.1% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, dropping by -8.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 10% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.7%), while the other leaders experienced more modest paces of growth.

Gear Box Imports

Imports in the EU

In 2022, supplies from abroad of gear boxes increased by 8.8% to X units, rising for the second year in a row after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports amounted to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) was the largest importer of gear boxes, comprising 27% of total imports. Belgium (X units) held a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by France (8.1%), Slovakia (7.8%), Spain (7.7%), Romania (6.9%), the Czech Republic (6.6%), Italy (5.6%) and Hungary (5.6%). The following importers - Sweden (X units) and Poland (X units) - each accounted for a 6.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to gear box imports into Germany stood at +5.7%. At the same time, Romania (+20.7%), Hungary (+14.7%), Belgium (+8.1%), Italy (+7.8%), Spain (+7.4%), the Czech Republic (+6.9%), Slovakia (+3.2%) and Poland (+1.6%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the European Union, with a CAGR of +20.7% from 2012-2022. Sweden and France experienced a relatively flat trend pattern. While the share of Romania (+5.1 p.p.), Hungary (+3.2 p.p.) and Belgium (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Slovakia (-1.8 p.p.), Sweden (-1.8 p.p.) and France (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported gear boxes in the European Union, comprising 27% of total imports. The second position in the ranking was held by Spain ($X), with a 9.7% share of total imports. It was followed by Belgium, with an 8.8% share.

In Germany, gear box imports increased at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (+8.6% per year) and Belgium (+5.3% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, shrinking by -6.1% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 11% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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