Nepal: Transmission Shaft Market 2024

Transmission Shaft Market Size in Nepal

The Nepalese transmission shaft market declined rapidly to $X in 2022, which is down by -15.8% 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, saw a resilient increase. Over the period under review, the market reached the peak level at $X in 2021, and then declined notably in the following year.

Transmission Shaft Exports

Exports from Nepal

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 Nepal; growing by 60% against the previous year's figure. Overall, exports, however, showed a mild descent. The growth pace was the most rapid in 2016 when exports increased by 141%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, transmission shaft exports skyrocketed to $X in 2022. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 135% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for transmission shaft exports from Nepal, with a 63% share of total exports. Moreover, transmission shaft exports to India exceeded the volume sent to the second major destination, Austria (X kg), fourfold. Russia (X kg) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+61.4% per year) and Russia (+44.4% per year).

In value terms, India ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Nepal, comprising 59% of total exports. The second position in the ranking was taken by Russia ($X), with a 27% share of total exports. It was followed by Austria, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+54.4% per year) and Austria (+62.0% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, shrinking by -21% against the previous year. In general, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2019 an increase of 38% against the previous year. Over the period under review, the average export prices hit record highs 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to New Zealand ($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 Turkey (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Nepal

In 2022, imports of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain into Nepal fell dramatically to X tons, shrinking by -20.5% against 2021 figures. Overall, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 84% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank significantly in the following year.

In value terms, transmission shaft imports dropped to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 75% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of transmission shaft to Nepal, accounting for a 60% share of total imports. Moreover, transmission shaft imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.7% per year) and Poland (+52.2% per year).

In value terms, India ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Nepal, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Poland, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.5% per year) and Poland (+49.4% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, surging by 8.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 32%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform