Myanmar: Transmission Shaft Market 2024

Transmission Shaft Market Size in Myanmar

The Myanmar's transmission shaft market rose to $X in 2022, with an increase of 2.3% against the previous year. Over the period under review, consumption showed a abrupt decrease. Transmission shaft consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Transmission Shaft Production in Myanmar

In value terms, transmission shaft production stood at $X in 2022 estimated in export price. In general, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 34% against the previous year. Transmission shaft production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Myanmar

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 112% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 635% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, transmission shaft exports soared to $X in 2022. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 441%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for transmission shaft exports from Myanmar, accounting for a 80% share of total exports. Moreover, transmission shaft exports to Vietnam exceeded the volume sent to the second major destination, the Netherlands (X kg), sixfold. The third position in this ranking was taken by Singapore (X kg), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam amounted to +58.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-9.8% per year) and Singapore (-10.3% per year).

In value terms, the largest markets for transmission shaft exported from Myanmar were Vietnam ($X), the Netherlands ($X) and Singapore ($X), together comprising 90% of total exports.

Vietnam, with a CAGR of +65.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average transmission shaft export price amounted to $X per ton, dropping by -32.9% against the previous year. Over the period under review, the export price showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 80% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell sharply in the following year.

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 the Netherlands ($X per ton), while the average price for exports to Singapore ($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 the Netherlands (+21.1%), while the prices for the other major destinations experienced mixed trend patterns.

Transmission Shaft Imports

Imports into Myanmar

In 2022, overseas purchases of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 18% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 104%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports expanded markedly to $X in 2022. In general, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 35%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of transmission shaft to Myanmar, with a 93% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+7.0% per year) and the United Arab Emirates (-52.0% per year).

In value terms, China ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Myanmar, comprising 82% of total imports. The second position in the ranking was taken by Thailand ($X), with a 5.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-6.1% per year) and the United Arab Emirates (-35.9% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, with a decrease of -8.3% against the previous year. In general, the import price faced a abrupt descent. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 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 the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+33.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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