Europe: Transmission Shaft Market 2024

Transmission Shaft Market Size in Europe

In 2022, the Europe transmission shaft market increased by 2.1% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Production in Europe

In value terms, transmission shaft production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 9.5% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Transmission Shaft Exports

Exports in Europe

In 2022, approx. X tons of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain were exported in Europe; waning by -2.5% against 2021 figures. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 13%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports declined modestly to $X in 2022. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Germany represented the main exporting country with an export of about X tons, which reached 36% of total exports. Italy (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Spain (7.7%) and France (5.4%). Denmark (X tons), Poland (X tons), the UK (X tons), the Czech Republic (X tons), Slovakia (X tons), the Netherlands (X tons), Belgium (X tons), Austria (X tons) and Sweden (X tons) followed a long way behind the leaders.

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 Europe, 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%), the UK (-2.6%), Slovakia (-3.0%) and Belgium (-5.6%) illustrated a downward trend over the same period. Italy (+2.8 p.p.) and Denmark (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest transmission shaft supplier in Europe, comprising 39% of total exports. The second position in the ranking was held by Italy ($X), with a 14% share of total exports. It was followed by France, with a 5.8% share.

In Germany, transmission shaft exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+2.5% per year) and France (-1.1% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 6.9%. The level of export peaked at $X per ton in 2021, and then contracted in the following year.

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 the UK ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.5%), while the other leaders experienced more modest paces of growth.

Transmission Shaft Imports

Imports in Europe

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 +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 15%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

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 somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X tons), distantly followed by Italy (X tons), the UK (X tons), France (X tons), Poland (X tons), Russia (X tons), Spain (X tons) and Austria (X tons) were the major importers of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, together committing 69% of total imports. The following importers - Hungary (X tons), Sweden (X tons), the Netherlands (X tons), the Czech Republic (X tons) and Denmark (X tons) - together made up 18% of total imports.

From 2012 to 2022, average annual rates of growth with regard to transmission shaft imports into Germany stood at +2.9%. At the same time, the Netherlands (+5.7%), Poland (+4.9%), Italy (+4.7%), Russia (+4.4%), Hungary (+3.6%) and Spain (+2.0%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Europe, with a CAGR of +5.7% from 2012-2022. Austria, France, Sweden, the UK and the Czech Republic experienced a relatively flat trend pattern. By contrast, Denmark (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Italy, Germany and Poland increased by +2.6, +2.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Europe, comprising 21% of total imports. The second position in the ranking was held by Italy ($X), with a 9% share of total imports. It was followed by France, with an 8.6% share.

In Germany, transmission shaft imports expanded at an average annual rate of +2.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+4.0% per year) and France (+1.3% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, which is down by -2.1% 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 2020 an increase of 5.4% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then shrank 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