Malaysia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Malaysia

The Malaysian transmission shaft market contracted to $X in 2022, waning by -13% 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, consumption, however, showed prominent growth. Transmission shaft consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Transmission Shaft Exports

Exports from Malaysia

In 2022, approx. X tons of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain were exported from Malaysia; shrinking by -5.7% against the previous year. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 26%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, transmission shaft exports declined to $X in 2022. Over the period under review, exports saw a mild contraction. The pace of growth was the most pronounced in 2018 when exports increased by 30%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of transmission shaft exports from Malaysia, with a combined 59% share of total exports. Singapore, the Philippines, Papua New Guinea, China, the United States, Pakistan, India, Italy and Brazil lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Singapore ($X) were the largest markets for transmission shaft exported from Malaysia worldwide, together accounting for 45% of total exports. Papua New Guinea, Vietnam, China, the United States, Italy, the Philippines, India, Pakistan and Brazil lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Italy, with a CAGR of +38.5%, recorded 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

In 2022, the average transmission shaft export price amounted to $X per ton, with a decrease of -1.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 8.2% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Pakistan ($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 Italy (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Malaysia

In 2022, imports of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain into Malaysia reduced to X tons, waning by -10.1% on the year before. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, transmission shaft imports contracted to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 27%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Malaysia, with a 53% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.5% per year) and Germany (-1.8% per year).

In value terms, China ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Malaysia, comprising 35% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by the United States, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.8% per year) and the United States (+2.1% per year).

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, flattening at the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Taiwan (Chinese) ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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