Italy: Transmission Shaft Market 2024

Transmission Shaft Market Size in Italy

The Italian transmission shaft market fell modestly to $X in 2022, declining by -4.4% against the previous year. Over the period under review, consumption showed a mild slump. Transmission shaft consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Production in Italy

In value terms, transmission shaft production soared to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Transmission shaft production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Italy

In 2022, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 4.9% 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 +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 25%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, transmission shaft exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +2.5% 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 30% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main destinations of transmission shaft exports from Italy, together comprising 40% of total exports. Belgium, Brazil, Spain, Poland, the UK, Austria, Turkey, Sweden, China and the Netherlands lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +9.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and France ($X) constituted the largest markets for transmission shaft exported from Italy worldwide, with a combined 39% share of total exports. The UK, Belgium, Brazil, Spain, Poland, Sweden, China, Turkey, Austria and the Netherlands lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, Turkey, with a CAGR of +9.0%, 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 transmission shaft export price stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 8.4%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 China ($X per ton), while the average price for exports to Poland ($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 China (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Italy

In 2022, overseas purchases of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 12% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, transmission shaft imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 32%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of transmission shaft to Italy, accounting for a 44% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by India (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.7% per year) and India (+7.9% per year).

In value terms, Germany ($X), China ($X) and India ($X) were the largest transmission shaft suppliers to Italy, with a combined 59% share of total imports. The United States, France, Japan, Sweden, Turkey, Spain, Slovakia, Brazil and Slovenia lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Turkey, with a CAGR of +9.4%, 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

In 2022, the average transmission shaft import price amounted to $X per ton, shrinking by -3.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 5.7% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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