Luxembourg: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Luxembourg

The Luxembourg cranks and crankshafts market shrank to $X in 2022, with a decrease of -9.4% 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). In general, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +26.3% against 2020 indices. Cranks and crankshafts consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Luxembourg

In 2022, overseas shipments of cranks and crankshafts increased by 42% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports soared to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 161% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for cranks and crankshafts exports from Luxembourg, accounting for a 41% share of total exports. Moreover, cranks and crankshafts exports to France exceeded the volume sent to the second major destination, Serbia (X kg), fourfold. The third position in this ranking was held by Italy (X kg), with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+58.2% per year) and Italy (+11.3% per year).

In value terms, France ($X), Belgium ($X) and Serbia ($X) constituted the largest markets for cranks and crankshafts exported from Luxembourg worldwide, together comprising 61% of total exports. The UK, South Africa, Italy, Germany, the United States, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 22%.

South Africa, with a CAGR of +143.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, growing by 4.2% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price decreased by -4.2% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 40%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Italy ($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 South Africa (+45.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Luxembourg

In 2022, the amount of cranks and crankshafts imported into Luxembourg declined dramatically to X tons, shrinking by -19.3% on the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 96% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports rose to $X in 2022. In general, imports, however, saw mild growth. The most prominent rate of growth was recorded in 2018 when imports increased by 60%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest cranks and crankshafts supplier to Luxembourg, with a 65% share of total imports. Moreover, cranks and crankshafts imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+9.5% per year) and China (+2.0% per year).

In value terms, Germany ($X) constituted the largest supplier of cranks and crankshafts to Luxembourg, comprising 44% of total imports. The second position in the ranking was held by France ($X), with a 10% share of total imports. It was followed by China, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+9.6% per year) and China (+3.6% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, growing by 28% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 47% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 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 Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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