Ireland: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Ireland

The Irish cranks and crankshafts market surged to $X in 2022, increasing by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.2% against 2020 indices. Cranks and crankshafts consumption peaked in 2022 and is likely to continue growth in years to come.

Cranks And Crankshafts Exports

Exports from Ireland

In 2022, overseas shipments of cranks and crankshafts decreased by 0% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 307%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cranks and crankshafts exports stood at $X in 2022. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 53%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for cranks and crankshafts exports from Ireland, accounting for a 80% share of total exports. Moreover, cranks and crankshafts exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Costa Rica (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.2% per year) and Costa Rica (-1.5% per year).

In value terms, the largest markets for cranks and crankshafts exported from Ireland were the UK ($X), the United States ($X) and Costa Rica ($X), together comprising 42% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +37.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price showed mild growth. The growth pace was the most rapid in 2014 an increase of 23% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 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 the United States ($X per ton), while the average price for exports to the UK ($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 the United States (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Cranks And Crankshafts Imports

Imports into Ireland

In 2022, supplies from abroad of cranks and crankshafts decreased by 0% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2019 when imports increased by 53%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cranks and crankshafts imports totaled $X in 2022. In general, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 30% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), India (X tons) and Germany (X tons) were the main suppliers of cranks and crankshafts imports to Ireland, with a combined 75% share of total imports. The UK, France, Finland, Italy, the United States and Australia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +56.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to Ireland were China ($X), the UK ($X) and India ($X), with a combined 50% share of total imports. The United States, Germany, France, Italy, Finland and Australia lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, Finland, with a CAGR of +33.6%, recorded 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

In 2022, the average cranks and crankshafts import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 65% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 the UK (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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