Ireland: Suspension System Market 2024

Suspension System Market Size in Ireland

In 2022, the Irish suspension system market increased by 9.3% to $X, rising for the second consecutive year after three years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Suspension System Exports

Exports from Ireland

In 2022, the amount of suspension systems exported from Ireland fell to X tons, shrinking by -4.2% on 2021 figures. In general, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 102%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted modestly in the following year.

In value terms, suspension system exports shrank to $X in 2022. Overall, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 35%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

France (X tons), Germany (X tons) and the UK (X tons) were the main destinations of suspension system exports from Ireland, together accounting for 53% of total exports. The Czech Republic, Italy, Poland and Sweden lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +31.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the UK ($X) constituted the largest markets for suspension system exported from Ireland worldwide, with a combined 58% share of total exports.

The UK, with a CAGR of +17.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average suspension system export price stood at $X per ton in 2022, declining by -2.4% against the previous year. Overall, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Czech Republic ($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 Germany (-2.3%), while the prices for the other major destinations experienced a decline.

Suspension System Imports

Imports into Ireland

In 2022, purchases abroad of suspension systems decreased by 0% to X tons, falling for the fifth consecutive year after three years of growth. Over the period under review, imports showed a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, suspension system imports stood at $X in 2022. Overall, imports recorded a tangible increase. The pace of growth was the most pronounced in 2013 when imports increased by 24%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of suspension system imports to Ireland, together comprising 54% of total imports. China, the Netherlands, Denmark, France, Poland, Italy, Spain, Japan, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +84.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and Turkey ($X) constituted the largest suspension system suppliers to Ireland, with a combined 55% share of total imports. China, Denmark, the Netherlands, France, Poland, Taiwan (Chinese), the United States, Japan, Italy and Spain lagged somewhat behind, together accounting for a further 37%.

Taiwan (Chinese), with a CAGR of +80.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 suspension system import price amounted to $X per ton, stabilizing at the previous year. In general, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 30%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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