EU: Transmission Shaft Market 2024

Transmission Shaft Market Size in the EU

In 2022, the EU transmission shaft market increased by 1.8% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Transmission Shaft Production in the EU

In value terms, transmission shaft production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 10%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Transmission Shaft Exports

Exports in the EU

Transmission shaft exports shrank modestly to X tons in 2022, reducing by -2.7% against 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, transmission shaft exports shrank to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 18%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Germany was the largest exporter of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in the European Union, with the volume of exports resulting at X tons, which was approx. 38% of total exports in 2022. Italy (X tons) ranks second in terms of the total exports with a 19% share, followed by Spain (8.1%) and France (5.7%). The following exporters - Denmark (X tons), Poland (X tons), the Czech Republic (X tons), Slovakia (X tons), the Netherlands (X tons), Belgium (X tons), Austria (X tons) and Sweden (X tons) - together made up 24% of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain. At the same time, Denmark (+8.1%), the Netherlands (+5.6%), Poland (+3.8%), Spain (+2.0%) and Italy (+1.9%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +8.1% from 2012-2022. France and Austria experienced a relatively flat trend pattern. By contrast, the Czech Republic (-1.4%), Sweden (-2.0%), Slovakia (-3.0%) and Belgium (-5.6%) illustrated a downward trend over the same period. While the share of Italy (+2.7 p.p.) and Denmark (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Germany (-1.9 p.p.) and Belgium (-2.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest transmission shaft supplier in the European Union, comprising 43% of total exports. The second position in the ranking was taken by Italy ($X), with a 16% share of total exports. It was followed by France, with a 6.4% share.

In Germany, transmission shaft exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+2.5% per year) and France (-1.1% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 6.7% against the previous year. The level of export peaked 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while Spain ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Transmission Shaft Imports

Imports in the EU

In 2022, overseas purchases of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 4% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, transmission shaft imports totaled $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 19%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Germany (X tons), distantly followed by Italy (X tons), France (X tons), Poland (X tons), Spain (X tons), Austria (X tons) and Hungary (X tons) were the largest importers of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, together achieving 72% of total imports. The following importers - Sweden (X tons), the Netherlands (X tons), the Czech Republic (X tons), Denmark (X tons), Romania (X tons) and Finland (X tons) - together made up 21% of total imports.

Imports into Germany increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Romania (+6.7%), Finland (+5.8%), the Netherlands (+5.7%), Poland (+4.9%), Italy (+4.7%), Hungary (+3.6%) and Spain (+2.0%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the European Union, with a CAGR of +6.7% from 2012-2022. Austria, France, Sweden and the Czech Republic experienced a relatively flat trend pattern. By contrast, Denmark (-2.0%) illustrated a downward trend over the same period. While the share of Italy (+3 p.p.), Germany (+2.7 p.p.) and Poland (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in the European Union, comprising 25% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by France, with a 10% share.

In Germany, transmission shaft imports increased at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+4.0% per year) and France (+1.3% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, falling by -2.5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in France ($X per ton) and the Netherlands ($X per ton), while Denmark ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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