Pakistan: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Pakistan

In 2021, the Pakistani driving and non-driving axle market increased by 40% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a remarkable increase. Driving and non-driving axle consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from Pakistan

For the fourth consecutive year, Pakistan recorded decline in shipments abroad of drive-axles with differential and non-driving axles, which decreased by -4.9% to X tons in 2021. Over the period under review, exports faced a abrupt setback. The growth pace was the most rapid in 2015 when exports increased by 28% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, driving and non-driving axle exports skyrocketed to $X in 2021. Overall, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 34%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for driving and non-driving axle exports from Pakistan, with a 62% share of total exports. Moreover, driving and non-driving axle exports to Turkey exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by Romania (X tons), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at -12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.9% per year) and Romania (-3.8% per year).

In value terms, Turkey ($X) remains the key foreign market for driving and non-driving axle exports from Pakistan, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 23% share of total exports. It was followed by Singapore, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.0% per year) and Singapore (+86.0% per year).

Export Prices by Country

In 2021, the average driving and non-driving axle export price amounted to $X per ton, growing by 25% against the previous year. Over the period under review, the export price, however, saw a mild curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into Pakistan

In 2021, supplies from abroad of drive-axles with differential and non-driving axles increased by 34% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 76% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, driving and non-driving axle imports skyrocketed to $X in 2021. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 68%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of driving and non-driving axle to Pakistan, accounting for a 40% share of total imports. Moreover, driving and non-driving axle imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey amounted to +67.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.2% per year) and Japan (+6.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of driving and non-driving axle to Pakistan, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Japan, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +62.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.8% per year) and Japan (+3.4% per year).

Import Prices by Country

The average driving and non-driving axle import price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2020 an increase of 6%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the United Arab Emirates ($X per ton) and the UK ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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