Pakistan: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Pakistan

The Pakistani cranks and crankshafts market shrank notably to $X in 2022, with a decrease of -20.2% 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Pakistan

In 2022, shipments abroad of cranks and crankshafts decreased by -49% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 206% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports declined markedly to $X in 2022. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 474%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Ireland (X tons) and Germany (X tons) were the main destinations of cranks and crankshafts exports from Pakistan, together comprising 77% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +17.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cranks and crankshafts exported from Pakistan were Germany ($X), Ireland ($X) and the UK ($X), with a combined 90% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +18.6%, saw 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

The average cranks and crankshafts export price stood at $X per ton in 2022, with a decrease of -2.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 614% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained 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 Germany ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Pakistan

In 2022, approx. X tons of cranks and crankshafts were imported into Pakistan; declining by -21.7% on 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 157% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports fell rapidly to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 171% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of cranks and crankshafts imports to Pakistan, together accounting for 72% of total imports. Germany, the United States, Thailand, the UK, Italy and the Philippines lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +34.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the largest cranks and crankshafts suppliers to Pakistan, together comprising 68% of total imports. Germany, the United States, Thailand, the UK, Italy and the Philippines lagged somewhat behind, together accounting for a further 21%.

Thailand, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, increasing by 1.9% against the previous year. Over the period under review, the import price, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2018 an increase of 12%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, 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 the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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