Global Transmission Shaft Market 2024

Transmission Shaft Market Size

The global transmission shaft market was estimated at $X in 2022, picking up by 3.5% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the global market remained at a lower figure.

Transmission Shaft Production

In value terms, transmission shaft production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 16% against the previous year. Global production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Transmission Shaft Exports

Exports

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 3.5% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, transmission shaft exports totaled $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China was the main exporter of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in the world, with the volume of exports resulting at X tons, which was approx. 34% of total exports in 2022. Germany (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Japan (7%) and Italy (6.5%). The United States (X tons), South Korea (X tons), Spain (X tons), Taiwan (Chinese) (X tons), Turkey (X tons), France (X tons), Mexico (X tons), India (X tons) and Denmark (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports, with a CAGR of +14.8% from 2012 to 2022. At the same time, India (+13.9%), Denmark (+8.1%), Turkey (+7.9%), Taiwan (Chinese) (+6.1%), South Korea (+2.7%), Spain (+2.0%), Italy (+1.9%) and Mexico (+1.3%) displayed positive paces of growth. Germany, the United States and France experienced a relatively flat trend pattern. By contrast, Japan (-1.6%) illustrated a downward trend over the same period. While the share of China (+22 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-2.1 p.p.), Japan (-4.5 p.p.) and Germany (-5.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest transmission shaft supplying countries worldwide were Germany ($X), China ($X) and the United States ($X), together comprising 45% of global exports. Japan, Italy, Taiwan (Chinese), India, France, South Korea, Spain, Mexico, Turkey and Denmark lagged somewhat behind, together accounting for a further 33%.

India, with a CAGR of +15.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, which is down by -2.8% against the previous year. Overall, the export price showed a mild decline. The growth pace was the most rapid in 2018 when the average export price increased by 5.1% against the previous year. The global export price peaked at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while China ($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 United States (+4.2%), while the other global leaders experienced more modest paces of growth.

Transmission Shaft Imports

Imports

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 6.3% 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 +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, transmission shaft imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X tons), followed by Germany (X tons) and Mexico (X tons) were the key importers of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, together comprising 32% of total imports. Brazil (X tons), Italy (X tons), China (X tons), Japan (X tons), the UK (X tons), Canada (X tons), Thailand (X tons), France (X tons), Poland (X tons) and Indonesia (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +9.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) were the countries with the highest levels of imports in 2022, together comprising 30% of global imports. Mexico, Canada, Brazil, Italy, France, the UK, Japan, Poland, Indonesia and Thailand lagged somewhat behind, together accounting for a further 33%.

Poland, with a CAGR of +6.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, leveling off at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 3.9% against the previous year. Global import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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