Portugal: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Portugal

The Portuguese cranks and crankshafts market stood at $X in 2022, with an increase of 7% against the previous year. Over the period under review, consumption, however, showed a abrupt curtailment. Cranks and crankshafts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Portugal

In value terms, cranks and crankshafts production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Cranks And Crankshafts Exports

Exports from Portugal

Cranks and crankshafts exports from Portugal fell rapidly to X tons in 2022, waning by -22.2% compared with the year before. In general, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of 156% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports contracted to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 51%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Germany (X tons), France (X tons) and Italy (X tons) were the main destinations of cranks and crankshafts exports from Portugal, together accounting for 56% of total exports. The Netherlands, Switzerland, Angola, Spain and Mexico lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) were the largest markets for cranks and crankshafts exported from Portugal worldwide, with a combined 54% share of total exports. The Netherlands, Switzerland, Spain, Angola and Mexico lagged somewhat behind, together accounting for a further 35%.

Switzerland, with a CAGR of +50.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, surging by 17% against the previous year. In general, the export price saw a strong increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 145%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Switzerland ($X per ton), while the average price for exports to Mexico ($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 Italy (+30.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Portugal

In 2022, purchases abroad of cranks and crankshafts was finally on the rise to reach X tons after three years of decline. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 129% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports surged to $X in 2022. Overall, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Spain (X tons) and Turkey (X tons) were the main suppliers of cranks and crankshafts imports to Portugal, together comprising 73% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +65.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to Portugal were China ($X), Spain ($X) and Germany ($X), together comprising 68% of total imports.

China, with a CAGR of +51.6%, recorded the highest growth rate of the value of imports, among 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, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, showed temperate growth. The most prominent rate of growth was recorded in 2019 an increase of 83%. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

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 Japan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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