Latin America and the Caribbean: Transmission Shaft Market 2024

Transmission Shaft Market Size in Latin America and the Caribbean

For the seventh consecutive year, the Latin American transmission shaft market recorded growth in sales value, which increased by 7.9% to $X in 2022. The market value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Transmission Shaft Production in Latin America and the Caribbean

In value terms, transmission shaft production rose modestly to $X in 2022 estimated in export price. In general, production saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 24%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 5.8% to X tons, rising for the second consecutive year after six years of decline. Overall, exports, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 51%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, transmission shaft exports rose significantly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 19%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico represented the largest exporter of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was near 59% of total exports in 2022. It was distantly followed by Brazil (X tons), constituting a 38% share of total exports. Argentina (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mexico (with a CAGR of +1.3%), while the other leaders experienced a decline in the exports figures.

In value terms, Mexico ($X) remains the largest transmission shaft supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was held by Brazil ($X), with a 29% share of total exports.

In Mexico, transmission shaft exports increased at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-2.8% per year) and Argentina (-5.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 2.1% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, transmission shaft export price decreased by -22.1% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the export price increased by 34%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.8%), while the other leaders experienced more modest paces of growth.

Transmission Shaft Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 9.7% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, transmission shaft imports totaled $X in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which resulted at 56% of total imports. It was distantly followed by Brazil (X tons), comprising a 29% share of total imports. Argentina (X tons), Chile (X tons), Peru (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +5.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 85% of total imports. Argentina, Peru and Colombia lagged somewhat behind, together comprising a further 9.9%.

In terms of the main importing countries, Argentina, with a CAGR of +5.1%, recorded the highest rates of growth with regard to 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 import price in Latin America and the Caribbean amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2018 when the import price increased by 8.6% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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