Southern Asia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Southern Asia

In 2022, the South Asian cranks and crankshafts market decreased by -0.4% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the market value increased by 6.4%. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in Southern Asia

In value terms, cranks and crankshafts production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 5.5%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports in Southern Asia

In 2022, cranks and crankshafts exports in Southern Asia soared to X tons, jumping by 25% on the previous year. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 44% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, cranks and crankshafts exports rose notably to $X in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 52%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2022.

India was also the fastest-growing in terms of the cranks and crankshafts exports, with a CAGR of +10.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest cranks and crankshafts supplier in Southern Asia.

In India, cranks and crankshafts exports expanded at an average annual rate of +10.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, shrinking by -10.4% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 22%. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +0.0% per year.

Cranks And Crankshafts Imports

Imports in Southern Asia

In 2022, purchases abroad of cranks and crankshafts increased by 7.1% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +57.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 47%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, cranks and crankshafts imports rose sharply to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +71.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 51%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

India dominates imports structure, accounting for X tons, which was near 87% of total imports in 2022. Pakistan (X tons) ranks second in terms of the total imports with a 5.9% share, followed by Bangladesh (5.4%).

Imports into India increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, Bangladesh (+14.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.2% from 2012-2022. Pakistan experienced a relatively flat trend pattern. India (+5.4 p.p.) and Bangladesh (+3 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan saw its share reduced by -3.5% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported cranks and crankshafts in Southern Asia, comprising 89% of total imports. The second position in the ranking was held by Pakistan ($X), with a 5.9% share of total imports.

In India, cranks and crankshafts imports increased at an average annual rate of +5.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (-0.7% per year) and Bangladesh (+6.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, increasing by 5.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 6.8% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($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 (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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