South-Eastern Asia: Transmission Shaft Market 2024

Transmission Shaft Market Size in South-Eastern Asia

In 2022, the Southeast Asian transmission shaft market increased by 4.4% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a noticeable descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Transmission Shaft Production in South-Eastern Asia

In value terms, transmission shaft production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Transmission Shaft Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 9% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, transmission shaft exports reached $X in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 28% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; afterwards, it flattened through to 2022.

Exports by Country

Thailand represented the main exporting country with an export of about X tons, which reached 39% of total exports. Indonesia (X tons) ranks second in terms of the total exports with an 18% share, followed by Vietnam (14%), Singapore (13%) and Malaysia (12%). The Philippines (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to transmission shaft exports from Thailand stood at +10.8%. At the same time, the Philippines (+17.6%) and Vietnam (+9.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +17.6% from 2012-2022. Malaysia and Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam and the Philippines increased by +19, +5.5 and +3.1 percentage points, respectively.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, with a combined 72% share of total exports. Indonesia, the Philippines and Malaysia lagged somewhat behind, together comprising a further 28%.

The Philippines, with a CAGR of +13.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, dropping by -6.7% against the previous year. Over the period under review, the export price recorded a slight downturn. The most prominent rate of growth was recorded in 2017 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.0%), while the other leaders experienced a decline in the export price figures.

Transmission Shaft Imports

Imports in South-Eastern Asia

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 11% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +51.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, transmission shaft imports rose markedly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 23%. The level of import peaked at $X in 2018; afterwards, it flattened through to 2022.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 68% of total imports in 2022. Malaysia (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Vietnam (8.7%), Singapore (6.4%) and the Philippines (4.5%).

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +9.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 33%.

The Philippines, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with a decrease of -4.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by 14% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($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 Philippines (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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