Europe: Gear Box Market 2024

Gear Box Market Size in Europe

In 2022, the Europe gear box market decreased by -12.8% to $X, falling for the fourth year in a row after five years of growth. In general, 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 stood at a somewhat lower figure.

Gear Box Production in Europe

In value terms, gear box production declined slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 10%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Gear Box Exports

Exports in Europe

In 2022, approx. X units of gear boxes were exported in Europe; waning by -1.6% compared with 2021 figures. The total export volume increased at an average annual rate of +3.2% 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 12% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of 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 +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 16%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Germany represented the largest exporting country with an export of about X units, which amounted to 47% of total exports. France (X units) held the second position in the ranking, followed by Romania (X units), Italy (X units) and Belgium (X units). All these countries together held approx. 27% 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) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gear box exports from Germany stood at +3.5%. 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 Europe, 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. Romania (+5 p.p.), Belgium (+4.7 p.p.) and Hungary (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Poland, Spain and France saw its share reduced by -2.5%, -2.6% and -3.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest gear box supplier in Europe, comprising 54% of total exports. The second position in the ranking was taken by France ($X), with a 7.6% share of total exports. It was followed by Romania, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany amounted to +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 Europe amounted to $X per unit, falling by -8.4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 10%. Over the period under review, the export prices attained the maximum at $X per unit in 2021, and then declined 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 Europe

In 2022, supplies from abroad of gear boxes increased by 7.8% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.7% 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 imports increased by 12% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, gear box imports totaled $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +10.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 18%. Over the period under review, imports attained the maximum 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 key importer of gear boxes, making up 24% of total imports. Belgium (X units) took the second position in the ranking, followed by France (X units), Slovakia (X units), Spain (X units), Romania (X units), the Czech Republic (X units), Russia (X units), Italy (X units), Hungary (X units) and the UK (X units). All these countries together held near 62% share of total imports. Sweden (X units) took a little 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%) and Slovakia (+3.2%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Europe, with a CAGR of +20.7% from 2012-2022. Sweden, Russia and France experienced a relatively flat trend pattern. By contrast, the UK (-7.6%) illustrated a downward trend over the same period. Romania (+4.8 p.p.), Germany (+4.2 p.p.), Hungary (+3.2 p.p.), Belgium (+2.9 p.p.), Spain (+2 p.p.), Italy (+1.6 p.p.) and the Czech Republic (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Russia, France and the UK saw its share reduced by -1.8%, -2.4% and -10.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported gear boxes in Europe, comprising 23% of total imports. The second position in the ranking was held by Spain ($X), with an 8.5% share of total imports. It was followed by Belgium, with a 7.7% share.

In Germany, gear box imports increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Spain (+8.6% per year) and Belgium (+5.3% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, reducing by -6.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 9.2%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then contracted 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 the UK ($X per unit), while Sweden ($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