Ireland: Gear Box Market 2024

Gear Box Market Size in Ireland

The Irish gear box market reduced remarkably to $X in 2022, which is down by -43.8% against the previous year. Over the period under review, consumption, however, continues to indicate strong growth. As a result, consumption reached the peak level of $X, and then contracted markedly in the following year.

Gear Box Production in Ireland

In value terms, gear box production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports from Ireland

Gear box exports from Ireland surged to X units in 2022, rising by 256% compared with the previous year's figure. Over the period under review, exports, however, recorded a slight downturn. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, gear box exports declined dramatically to $X in 2022. Overall, exports enjoyed resilient growth. The growth pace was the most rapid in 2016 with an increase of 165% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined markedly in the following year.

Exports by Country

The UK (X units) was the main destination for gear box exports from Ireland, with a 70% share of total exports. Moreover, gear box exports to the UK exceeded the volume sent to the second major destination, Singapore (X units), more than tenfold. Ecuador (X units) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+14.9% per year) and Ecuador (+65.5% per year).

It was followed by Ecuador, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+41.1% per year) and Ecuador (+59.4% per year).

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, falling by -79.5% against the previous year. Over the period under review, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 an increase of 101%. As a result, the export price reached the peak level of $X per unit, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Ireland

In 2022, purchases abroad of gear boxes increased by 1.8% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports expanded rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2021 when imports increased by 45% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X units) constituted the largest gear box supplier to Ireland, accounting for a 51% share of total imports. Moreover, gear box imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.4% per year) and Japan (-14.1% per year).

In value terms, the UK ($X) constituted the largest supplier of gear boxes to Ireland, comprising 48% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Japan, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from the UK totaled -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.3% per year) and Japan (-10.0% per year).

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, growing by 7.8% against the previous year. In general, the import price posted a buoyant increase. The growth pace was the most rapid in 2019 an increase of 40% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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