Luxembourg: Gear Box Market 2024

Gear Box Market Size in Luxembourg

In 2022, the Luxembourg gear box market decreased by -36.2% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Gear Box Production in Luxembourg

In value terms, gear box production rose sharply to $X in 2022 estimated in export price. In general, production, however, posted a significant increase. The growth pace was the most rapid in 2015 with an increase of 51%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Gear Box Exports

Exports from Luxembourg

In 2022, shipments abroad of gear boxes increased by 79% to X units, rising for the second consecutive year after six years of decline. Overall, exports, however, faced a sharp curtailment. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, gear box exports amounted to $X in 2022. In general, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 30% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for gear box exports from Luxembourg, accounting for a 59% share of total exports. Moreover, gear box exports to Belgium exceeded the volume sent to the second major destination, France (X units), threefold. The third position in this ranking was taken by the United States (X units), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium totaled -20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-21.9% per year) and the United States (+149.0% per year).

In value terms, Belgium ($X), France ($X) and the United States ($X) constituted the largest markets for gear box exported from Luxembourg worldwide, together accounting for 98% of total exports.

The United States, with a CAGR of +108.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, declining by -42.6% against the previous year. In general, the export price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 60%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 France ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Luxembourg

For the sixth year in a row, Luxembourg recorded decline in purchases abroad of gear boxes, which decreased by -33.1% to X units in 2022. In general, imports faced a precipitous setback. The pace of growth was the most pronounced in 2016 with an increase of 30%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, gear box imports declined notably to $X in 2022. Overall, imports recorded a abrupt setback. The growth pace was the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of gear box to Luxembourg, accounting for a 53% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), threefold. Belgium (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-12.5% per year) and Belgium (-31.9% per year).

In value terms, Germany ($X) constituted the largest supplier of gear boxes to Luxembourg, comprising 57% of total imports. The second position in the ranking was held by Belgium ($X), with a 17% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-11.5% per year) and France (-1.9% per year).

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, rising by 19% against the previous year. Over the period under review, the import price recorded a significant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 53%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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