Indonesia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Indonesia

The Indonesian cranks and crankshafts market stood at $X in 2022, approximately equating the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Cranks And Crankshafts Production in Indonesia

In value terms, cranks and crankshafts production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Indonesia

In 2022, shipments abroad of cranks and crankshafts increased by 5.7% to X tons, rising for the second consecutive year after two years of decline. 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 in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 31% 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, cranks and crankshafts exports surged to $X in 2022. The total export value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons) was the main destination for cranks and crankshafts exports from Indonesia, with a 40% share of total exports. Moreover, cranks and crankshafts exports to Thailand exceeded the volume sent to the second major destination, China (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+22.1% per year) and Japan (+3.5% per year).

In value terms, the largest markets for cranks and crankshafts exported from Indonesia were Thailand ($X), Japan ($X) and China ($X), with a combined 58% share of total exports. Mexico, Brazil, the UK, Malaysia, the Philippines, Vietnam and the United States lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, the UK, with a CAGR of +206.2%, 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

In 2022, the average cranks and crankshafts export price amounted to $X per ton, rising by 14% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 17%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the Philippines ($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 Malaysia (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Indonesia

In 2022, overseas purchases of cranks and crankshafts increased by 31% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports surged to $X in 2022. Over the period under review, imports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 44% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and India (X tons) were the main suppliers of cranks and crankshafts imports to Indonesia, together comprising 80% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +8.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of cranks and crankshafts to Indonesia, comprising 44% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Thailand, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.5% per year) and Thailand (-1.2% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, surging by 3.3% against the previous year. Over the period under review, the import price, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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