Ireland: Transmission Shaft Market 2024

Transmission Shaft Market Size in Ireland

In 2022, the Irish transmission shaft market increased by 331% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Transmission Shaft Production in Ireland

In value terms, transmission shaft production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 117% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Transmission Shaft Exports

Exports from Ireland

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported from Ireland surged to X tons, growing by 186% compared with the previous year. In general, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, transmission shaft exports skyrocketed to $X in 2022. Over the period under review, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for transmission shaft exports from Ireland, accounting for a 38% share of total exports. Moreover, transmission shaft exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by France (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.4% per year) and France (+39.4% per year).

In value terms, the largest markets for transmission shaft exported from Ireland were the UK ($X), Germany ($X) and France ($X), with a combined 43% share of total exports. The United States, the Netherlands, Spain, Italy, Poland and Denmark lagged somewhat behind, together comprising a further 29%.

Among the main countries of destination, Poland, with a CAGR of +19.2%, 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

The average transmission shaft export price stood at $X per ton in 2022, reducing by -19.9% against the previous year. In general, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat 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 Spain ($X per ton), while the average price for exports to Denmark ($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 (+2.0%), while the prices for the other major destinations experienced a decline.

Transmission Shaft Imports

Imports into Ireland

After two years of decline, purchases abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 449% to X tons in 2022. Overall, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, transmission shaft imports soared to $X in 2022. In general, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Ireland, with a 38% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+23.3% per year) and Germany (+9.9% per year).

In value terms, the largest transmission shaft suppliers to Ireland were China ($X), the UK ($X) and Denmark ($X), with a combined 47% share of total imports. Germany, Italy, India and Turkey lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Turkey, with a CAGR of +16.1%, saw the highest growth rate of 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, declining by -40% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 51%. As a result, import price attained the peak level of $X per ton, and then dropped rapidly in the following year.

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

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

Source: IndexBox Platform

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