Italy: Gear Box Market 2024

Gear Box Market Size in Italy

After three years of decline, the Italian gear box market increased by 4,012% to $X in 2022. In general, consumption, however, continues to indicate a noticeable descent. Gear box consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Gear Box Production in Italy

In value terms, gear box production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2019 with an increase of 41% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Gear Box Exports

Exports from Italy

In 2022, overseas shipments of gear boxes were finally on the rise to reach X units after two years of decline. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, gear box exports reached $X in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 36% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for gear box exports from Italy, with a 24% share of total exports. Moreover, gear box exports to Germany exceeded the volume sent to the second major destination, Sweden (X units), twofold. Turkey (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+22.3% per year) and Turkey (+0.7% per year).

In value terms, Germany ($X) remains the key foreign market for gear boxes exports from Italy, comprising 26% of total exports. The second position in the ranking was held by Turkey ($X), with an 11% share of total exports. It was followed by Romania, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+2.4% per year) and Romania (+60.0% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 12%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 the United States ($X per unit), while the average price for exports to Sweden ($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 South Korea (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Italy

Gear box imports into Italy rose remarkably to X units in 2022, with an increase of 10% against 2021. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +15.0% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports rose to $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +4.9% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of gear box to Italy, accounting for a 40% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), twofold. Japan (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and Japan (+18.2% per year).

In value terms, Germany ($X) constituted the largest supplier of gear boxes to Italy, comprising 42% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.8% per year) and the United States (+20.6% per year).

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, reducing by -7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 ($X per unit), while the price for Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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