Italy: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Italy

In 2022, the Italian cranks and crankshafts market decreased by -21% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption continues to indicate a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Italy

In value terms, cranks and crankshafts production shrank sharply to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 133% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Italy

In 2022, overseas shipments of cranks and crankshafts increased by 3.1% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, cranks and crankshafts exports amounted to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Germany (X tons) and the United States (X tons) were the main destinations of cranks and crankshafts exports from Italy, with a combined 50% share of total exports. Belgium, Sweden, Mexico, Brazil, the Netherlands, Poland, Turkey, Argentina, Switzerland and Canada lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) constituted the largest markets for cranks and crankshafts exported from Italy worldwide, with a combined 46% share of total exports. Belgium, Switzerland, Poland, Brazil, Mexico, Sweden, Canada, Argentina, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 28%.

In terms of the main countries of destination, Switzerland, with a CAGR of +19.4%, recorded the highest growth rate of 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 cranks and crankshafts export price amounted to $X per ton, surging by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 17%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Sweden ($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 Poland (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Italy

In 2022, the amount of cranks and crankshafts imported into Italy shrank to X tons, waning by -3.2% on the year before. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 38%. As a result, imports reached the peak of X tons, and then declined slightly in the following year.

In value terms, cranks and crankshafts imports declined to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), India (X tons) and China (X tons) were the main suppliers of cranks and crankshafts imports to Italy, with a combined 72% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and India ($X) constituted the largest cranks and crankshafts suppliers to Italy, together accounting for 64% of total imports.

Among the main suppliers, China, with a CAGR of +11.5%, 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, rising by 2.1% against the previous year. Overall, the import price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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