Finland: Transmission Shaft Market 2024

Transmission Shaft Market Size in Finland

The Finnish transmission shaft market amounted to $X in 2022, surging by 4% against the previous year. Over the period under review, consumption enjoyed a buoyant expansion. Transmission shaft consumption peaked in 2022 and is expected to retain growth in the near future.

Transmission Shaft Production in Finland

In value terms, transmission shaft production shrank notably to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 77%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Transmission Shaft Exports

Exports from Finland

In 2022, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -33% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 56%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, transmission shaft exports contracted sharply to $X in 2022. Overall, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 59% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Germany (X tons) and China (X tons) were the main destinations of transmission shaft exports from Finland, together comprising 36% of total exports. The United States, the Netherlands, Russia, Estonia, Italy, Austria, Denmark, Chile, Spain and Japan lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +0.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for transmission shaft exported from Finland were Sweden ($X), the Netherlands ($X) and the United States ($X), together comprising 27% of total exports. Germany, China, Russia, Japan, Chile, Italy, Estonia, Austria, Denmark and Spain lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, Estonia, with a CAGR of +4.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, with an increase of 15% against the previous year. In general, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Finland

In 2022, approx. X tons of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain were imported into Finland; falling by -8.9% compared with 2021. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, transmission shaft imports shrank to $X in 2022. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +44.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 62% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest transmission shaft supplier to Finland, accounting for a 35% share of total imports. Moreover, transmission shaft imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+22.9% per year) and Italy (+1.2% per year).

In value terms, Germany ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Finland, comprising 38% of total imports. The second position in the ranking was held by Belgium ($X), with a 15% share of total imports. It was followed by Italy, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+12.1% per year) and Italy (+1.4% per year).

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, waning by -1.7% against the previous year. In general, the import price recorded a slight decline. The pace of growth was the most pronounced in 2017 an increase of 6.8% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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