Indonesia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Indonesia

In 2022, the Indonesian transmission shaft market increased by 46% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, showed a mild contraction. Transmission shaft consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Indonesia

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 13% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, transmission shaft exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a mild decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 30%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for transmission shaft exports from Indonesia, accounting for a 47% share of total exports. Moreover, transmission shaft exports to Thailand exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The Philippines (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand amounted to +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.5% per year) and the Philippines (+4.9% per year).

In value terms, Thailand ($X), Japan ($X) and China ($X) constituted the largest markets for transmission shaft exported from Indonesia worldwide, together accounting for 49% of total exports. Mexico, Brazil, the Philippines, the United States, Malaysia, the UK, Australia, India, Singapore and Vietnam lagged somewhat behind, together accounting for a further 41%.

Among the main countries of destination, the UK, with a CAGR of +111.1%, recorded 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 transmission shaft export price amounted to $X per ton, picking up by 2.3% against the previous year. Overall, the export price, however, showed a mild slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 19% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 India (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Indonesia

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 32% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, transmission shaft imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a pronounced contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Indonesia, accounting for a 53% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.7% per year) and Thailand (+1.2% per year).

In value terms, Japan ($X), China ($X) and Thailand ($X) appeared to be the largest transmission shaft suppliers to Indonesia, with a combined 63% share of total imports.

In terms of the main suppliers, China, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, rising by 8.1% against the previous year. In general, the import price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2017 when the average import price increased by 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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