Saudi Arabia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Saudi Arabia

In 2022, the Saudi transmission shaft market decreased by -19% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a abrupt setback. Transmission shaft consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Saudi Arabia

After two years of growth, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -80.2% to X tons in 2022. Overall, exports, however, recorded a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,062% 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, transmission shaft exports fell notably to $X in 2022. In general, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 6,121% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Bahrain (X tons) were the main destinations of transmission shaft exports from Saudi Arabia, with a combined 56% share of total exports. Canada, China, Italy, the Philippines, Germany and Spain lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +4,420.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for transmission shaft exported from Saudi Arabia were the United States ($X), Bahrain ($X) and the United Arab Emirates ($X), together accounting for 61% of total exports. Canada, China, Germany, the Philippines, Italy and Spain lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, the Philippines, with a CAGR of +966.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, picking up by 61% against the previous year. Overall, the export price, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 435%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Italy ($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 Spain (+26.9%), while the prices for the other major destinations experienced mixed trend patterns.

Transmission Shaft Imports

Imports into Saudi Arabia

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -15.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, transmission shaft imports declined dramatically to $X in 2022. In general, imports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 12%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Saudi Arabia, accounting for a 61% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.7% per year) and the United States (-10.1% per year).

In value terms, the largest transmission shaft suppliers to Saudi Arabia were China ($X), Germany ($X) and the United States ($X), together accounting for 63% of total imports.

Among the main suppliers, China, with a CAGR of +2.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, falling by -10.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 35% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Japan (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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