Italy: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Italy

The Italian steering wheels and columns market soared to $X in 2022, increasing by 83% against the previous year. In general, consumption, however, showed a perceptible reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Italy

In value terms, steering wheels and columns production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 38% against the previous year. Steering wheels and columns production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Italy

In 2022, shipments abroad of steering wheels, steering columns and steering boxes increased by 0.8% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports reduced to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 26%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and Mexico (X tons) were the main destinations of steering wheels and columns exports from Italy, together accounting for 38% of total exports. The Czech Republic, Hungary, Slovakia, the United States, Brazil, Spain, France, Tunisia, Russia and the UK lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of +44.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steering wheels and columns exported from Italy were Germany ($X), Mexico ($X) and Poland ($X), with a combined 41% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +41.1%, 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

In 2022, the average steering wheels and columns export price amounted to $X per ton, with a decrease of -3.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 15% 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the Czech Republic ($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 UK (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Italy

In 2022, the amount of steering wheels, steering columns and steering boxes imported into Italy declined to X tons, waning by -9% on 2021. Overall, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +11.2% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 62% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, steering wheels and columns imports fell notably to $X in 2022. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +5.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 47%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of steering wheels and columns imports to Italy, with a combined 65% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +26.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and Tunisia ($X) constituted the largest steering wheels and columns suppliers to Italy, together comprising 57% of total imports. Romania, China, France, Spain, Turkey, Hungary, India, the Czech Republic and Austria lagged somewhat behind, together comprising a further 37%.

China, with a CAGR of +24.5%, saw the highest growth rate of 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 2022, the average steering wheels and columns import price amounted to $X per ton, shrinking by -7.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Tunisia ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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