Nepal: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Nepal

The Nepalese gearboxes and speed changers market reduced to $X in 2022, dropping by X% 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, continues to indicate resilient growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports from Nepal

In 2022, after three years of decline, there was significant growth in overseas shipments of gearboxes and speed changers, when their volume increased by X% to X tons. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X kg) was the main destination for gearboxes and speed changers exports from Nepal, with a X% share of total exports. Moreover, gearboxes and speed changers exports to Austria exceeded the volume sent to the second major destination, Russia (X kg), twofold. New Zealand (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and New Zealand (X% per year).

In value terms, Russia ($X) remains the key foreign market for gearboxes and speed changers exports from Nepal, comprising X% of total exports. The second position in the ranking was taken by Austria ($X), with an X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and New Zealand (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Chile ($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 Russia (X%), while the prices for the other major destinations experienced a decline.

Imports of Gearboxes and Speed Changers

Imports into Nepal

Gearboxes and speed changers imports into Nepal fell to X tons in 2022, declining by X% compared with the year before. In general, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, gearboxes and speed changers imports dropped to $X in 2022. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

India (X tons), Poland (X tons) and China (X tons) were the main suppliers of gearboxes and speed changers imports to Nepal, with a combined X% share of total imports. The United Arab Emirates, Brazil and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of gearboxes and speed changers to Nepal, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, declining by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. 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.

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 India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform