Russian Federation: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in the Russian Federation

In 2022, after two years of growth, there was decline in the Russian cranks and crankshafts market, when its value decreased by -3.2% to $X. In general, consumption, however, showed tangible growth. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from the Russian Federation

Cranks and crankshafts exports from Russia fell modestly to X tons in 2022, stabilizing at 2021 figures. In general, exports showed a perceptible reduction. The growth pace was the most rapid in 2017 with an increase of 41% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports expanded slightly to $X in 2022. Overall, exports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 114% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for cranks and crankshafts exports from Russia, with a 68% share of total exports. Moreover, cranks and crankshafts exports to Kazakhstan exceeded the volume sent to the second major destination, Uzbekistan (X tons), more than tenfold. Azerbaijan (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan amounted to +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+7.4% per year) and Azerbaijan (+21.0% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for cranks and crankshafts exports from Russia, comprising 52% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 7.5% share of total exports. It was followed by the Czech Republic, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+16.9% per year) and the Czech Republic (+43.1% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, rising by 3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Armenia ($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 Germany (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into the Russian Federation

After two years of growth, purchases abroad of cranks and crankshafts decreased by -2.5% to X tons in 2022. Overall, imports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2016 when imports increased by 125%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports dropped to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +20.5% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 84% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cranks and crankshafts to Russia, accounting for a 51% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.8% per year) and South Korea (+18.6% per year).

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the largest cranks and crankshafts suppliers to Russia, together accounting for 51% of total imports. Turkey, Italy, Sweden, South Korea, Belarus, Romania, Spain, India and Ukraine lagged somewhat behind, together accounting for a further 28%.

Turkey, with a CAGR of +22.9%, saw the highest rates of growth with regard to 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, approximately reflecting the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 12%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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