Italy: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Italy

In 2021, the Italian driving and non-driving axle market decreased by -74% to $X, falling for the second consecutive year after three years of growth. In general, consumption continues to indicate a deep slump. Driving and non-driving axle consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Drive-Axles with Differential and Non-Driving Axles in Italy

In value terms, driving and non-driving axle production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a tangible expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from Italy

In 2021, shipments abroad of drive-axles with differential and non-driving axles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle exports skyrocketed to $X in 2021. Overall, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for driving and non-driving axle exports from Italy, with a 25% share of total exports. Moreover, driving and non-driving axle exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.8% per year) and Spain (-1.4% per year).

In value terms, Germany ($X), Spain ($X) and the UK ($X) were the largest markets for driving and non-driving axle exported from Italy worldwide, together accounting for 38% of total exports. These countries were followed by France, the United States, Sweden, Austria, Brazil, Mexico, Hungary, China, Turkey and Finland, which together accounted for a further 51%.

In terms of the main countries of destination, Sweden, with a CAGR of +21.1%, 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 driving and non-driving axle export price stood at $X per ton in 2021, surging by 6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into Italy

In 2021, after two years of decline, there was significant growth in overseas purchases of drive-axles with differential and non-driving axles, when their volume increased by 46% to X tons. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle imports skyrocketed to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Germany (X tons) were the main suppliers of driving and non-driving axle imports to Italy, with a combined 55% share of total imports. Turkey, Japan, South Korea, Spain, Slovenia, Hungary, France, Slovakia, the United States and Portugal lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +39.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and China ($X) constituted the largest driving and non-driving axle suppliers to Italy, together comprising 56% of total imports. These countries were followed by Turkey, Japan, France, Hungary, Slovenia, South Korea, Spain, the United States, Slovakia and Portugal, which together accounted for a further 37%.

Slovenia, with a CAGR of +47.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, the average driving and non-driving axle import price amounted to $X per ton, approximately mirroring the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 14%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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