Italy: Ship Propeller Market 2024

Ship Propeller Market Size in Italy

In 2022, the Italian ship propeller market decreased by -35.6% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Ship Propeller Production in Italy

In value terms, ship propeller production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 45% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Ship Propeller Exports

Exports from Italy

Ship propeller exports from Italy fell to X tons in 2022, declining by -2.6% against the previous year. In general, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +59.4% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 64% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ship propeller exports shrank modestly to $X in 2022. Overall, exports showed a perceptible setback. The pace of growth was the most pronounced in 2021 with an increase of 64%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of ship propeller exports from Italy, together accounting for 62% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +69.8%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the United States ($X) and Belgium ($X) were the largest markets for ship propeller exported from Italy worldwide, together accounting for 56% of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +40.6%, saw 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

The average ship propeller export price stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2017 an increase of 27%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Poland ($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 Netherlands (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ship Propeller Imports

Imports into Italy

Ship propeller imports into Italy shrank markedly to X tons in 2022, reducing by -19% against the year before. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, ship propeller imports reduced sharply to $X in 2022. The total import value increased at an average annual rate of +1.7% 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 64% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Norway (X tons), Spain (X tons) and Denmark (X tons) were the main suppliers of ship propeller imports to Italy, together accounting for 52% of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +90.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ship propeller suppliers to Italy were Switzerland ($X), Spain ($X) and Sweden ($X), with a combined 49% share of total imports. Belgium, Norway, the UK, Germany, China, Denmark and the Netherlands lagged somewhat behind, together accounting for a further 38%.

In terms of the main suppliers, Norway, with a CAGR of +50.1%, recorded 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 ship propeller import price stood at $X per ton in 2022, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 an increase of 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Sweden ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+35.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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