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

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

In 2021, the Romanian driving and non-driving axle market increased by 6.3% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Production of Drive-Axles with Differential and Non-Driving Axles in Romania

In value terms, driving and non-driving axle production declined to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 17%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

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

Exports from Romania

In 2021, shipments abroad of drive-axles with differential and non-driving axles decreased by -20.2% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 24%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, driving and non-driving axle exports dropped to $X in 2021. Overall, exports recorded a pronounced descent. The pace of growth was the most pronounced in 2016 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for driving and non-driving axle exports from Romania, with a 40% share of total exports. Moreover, driving and non-driving axle exports to Russia exceeded the volume sent to the second major destination, Morocco (X tons), twofold. Turkey (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+5.3% per year) and Turkey (+0.6% per year).

In value terms, Russia ($X) remains the key foreign market for driving and non-driving axle exports from Romania, comprising 48% of total exports. The second position in the ranking was held by Turkey ($X), with a 16% share of total exports. It was followed by Morocco, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value to Russia stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+6.0% per year) and Morocco (+3.3% per year).

Export Prices by Country

The average driving and non-driving axle export price stood at $X per ton in 2021, picking up by 20% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, driving and non-driving axle export price increased by +72.6% against 2015 indices. As a result, the export price reached 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 2021, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Iran ($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 Slovenia (+16.0%), 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 Romania

In 2021, supplies from abroad of drive-axles with differential and non-driving axles decreased by -18.1% to X tons, falling for the third consecutive year after three years of growth. In general, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, driving and non-driving axle imports expanded to $X in 2021. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 21%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

France (X tons), Turkey (X tons) and Spain (X tons) were the main suppliers of driving and non-driving axle imports to Romania, together accounting for 55% of total imports. These countries were followed by Poland, Germany, Slovenia, Morocco, Japan and Italy, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were in Morocco (with a CAGR of +270.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Slovenia ($X) constituted the largest driving and non-driving axle suppliers to Romania, together comprising 40% of total imports. These countries were followed by Turkey, Poland, Spain, Morocco, Japan and Italy, which together accounted for a further 44%.

Among the main suppliers, Morocco, with a CAGR of +269.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average driving and non-driving axle import price amounted to $X per ton, growing by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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