Jordan: Transmission Shaft Market 2024

Transmission Shaft Market Size in Jordan

The Jordanian transmission shaft market fell notably to $X in 2022, which is down by -38.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Transmission Shaft Exports

Exports from Jordan

For the third consecutive year, Jordan recorded growth in shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, which increased by 30% to X tons in 2022. In general, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2020 when exports increased by 150% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports soared to $X in 2022. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 159% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Free Zones (X tons) was the main destination for transmission shaft exports from Jordan, accounting for a 71% share of total exports. Moreover, transmission shaft exports to Free Zones exceeded the volume sent to the second major destination, Denmark (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Free Zones totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Saudi Arabia (-27.8% per year).

In value terms, Free Zones ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Jordan, comprising 73% of total exports. The second position in the ranking was taken by Denmark ($X), with a 20% share of total exports. It was followed by Saudi Arabia, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones stood at +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Saudi Arabia (-17.4% per year).

Export Prices by Country

In 2022, the average transmission shaft export price amounted to $X per ton, picking up by 34% against the previous year. Overall, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2019 an increase of 116% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 Free Zones ($X per ton), while the average price for exports to Saudi Arabia ($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 Saudi Arabia (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Jordan

In 2022, imports of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain into Jordan shrank dramatically to X tons, with a decrease of -20.5% against the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 83% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, transmission shaft imports dropped rapidly to $X in 2022. In general, imports saw a pronounced reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 58%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of transmission shaft to Jordan, accounting for a 59% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The United States (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.8% per year) and the United States (+4.8% per year).

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the largest transmission shaft suppliers to Jordan, with a combined 61% share of total imports.

In terms of the main suppliers, China, with a CAGR of +8.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, which is down by -25.5% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform