Portugal: Transmission Shaft Market 2024

Transmission Shaft Market Size in Portugal

In 2022, the Portuguese transmission shaft market increased by 115% to $X, rising for the second year in a row after three years of decline. Overall, consumption enjoyed a resilient increase. Transmission shaft consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Transmission Shaft Production in Portugal

In value terms, transmission shaft production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a mild expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 223%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Transmission Shaft Exports

Exports from Portugal

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 Portugal; which is down by -45.9% on the previous year. Over the period under review, exports showed a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports fell sharply to $X in 2022. Overall, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39%. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

Germany (X tons), the United States (X tons) and Spain (X tons) were the main destinations of transmission shaft exports from Portugal, with a combined 41% share of total exports. Taiwan (Chinese), France, the Netherlands, Angola, Italy, Canada, Denmark, Switzerland, the UK and Hungary lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +26.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Portugal, comprising 22% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+4.1% per year) and the United States (+3.1% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, growing by 56% against the previous year. Overall, the export price posted a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to the UK ($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 (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Portugal

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 27% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed notable growth. The most prominent rate of growth was recorded in 2014 with an increase of 31%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports surged to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 40% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of transmission shaft imports to Portugal, together accounting for 55% of total imports. Denmark, Germany, Japan, South Korea, France, Belgium, the Netherlands and the UK lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +37.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Portugal, comprising 28% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.6% per year) and Italy (+6.8% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, dropping by -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 19%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($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 Netherlands (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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