MERCOSUR: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in MERCOSUR

For the third year in a row, the MERCOSUR steering wheels and columns market recorded growth in sales value, which increased by 2.8% to $X in 2022. Over the period under review, consumption, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the market value increased by 5.2% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in MERCOSUR

In value terms, steering wheels and columns production expanded to $X in 2022 estimated in export price. In general, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports in MERCOSUR

In 2022, overseas shipments of steering wheels, steering columns and steering boxes increased by 8.5% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, steering wheels and columns exports soared to $X in 2022. Overall, exports, however, continue to indicate a mild contraction. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil was the key exporter of steering wheels, steering columns and steering boxes in MERCOSUR, with the volume of exports resulting at X tons, which was approx. 85% of total exports in 2022. It was distantly followed by Argentina (X tons), comprising a 14% share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of steering wheels, steering columns and steering boxes. At the same time, Argentina (+5.0%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +5.0% from 2012-2022. Argentina (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -5.4% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest steering wheels and columns supplier in MERCOSUR, comprising 91% of total exports. The second position in the ranking was held by Argentina ($X), with a 9.2% share of total exports.

In Brazil, steering wheels and columns exports contracted by an average annual rate of -1.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, surging by 9.7% against the previous year. Overall, the export price, however, showed a mild descent. The pace of growth was the most pronounced in 2021 when the export price increased by 12% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Brazil ($X per ton), while Argentina stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-1.3%).

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports in MERCOSUR

In 2022, overseas purchases of steering wheels, steering columns and steering boxes increased by 3.4% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 46% 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 stood at a somewhat lower figure.

In value terms, steering wheels and columns imports expanded rapidly to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 50%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Brazil represented the major importer of steering wheels, steering columns and steering boxes in MERCOSUR, with the volume of imports resulting at X tons, which was approx. 66% of total imports in 2022. It was distantly followed by Argentina (X tons), creating a 23% share of total imports. Colombia (X tons) and Peru (X tons) took a relatively small share of total imports.

Imports into Brazil increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, Peru (+5.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +5.3% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported steering wheels, steering columns and steering boxes in MERCOSUR, comprising 65% of total imports. The second position in the ranking was taken by Argentina ($X), with a 28% share of total imports. It was followed by Colombia, with a 2.7% share.

In Brazil, steering wheels and columns imports expanded at an average annual rate of +2.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (-1.5% per year) and Colombia (-3.7% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by 5.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform