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

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

In 2021, after nine years of growth, there was decline in the South Asian driving and non-driving axle market, when its value decreased by -3.8% to $X. Over the period under review, consumption, however, saw resilient growth. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Drive-Axles with Differential and Non-Driving Axles in Southern Asia

In value terms, driving and non-driving axle production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, showed a strong expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 40%. The level of production peaked at $X in 2020, and then reduced in the following year.

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

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of drive-axles with differential and non-driving axles, when their volume increased by 105% to X tons. Over the period under review, exports enjoyed a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle exports surged to $X in 2021. Overall, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together resulting at 100% of total export.

India was also the fastest-growing in terms of the drive-axles with differential and non-driving axles exports, with a CAGR of +20.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest driving and non-driving axle supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +18.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, dropping by -16% against the previous year. Over the period under review, the export price saw a slight decline. The pace of growth appeared the most rapid in 2016 an increase of 10%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -1.4% per year.

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

Imports in Southern Asia

In 2021, purchases abroad of drive-axles with differential and non-driving axles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle imports soared to $X in 2021. Overall, imports, however, saw a slight slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India prevails in imports structure, reaching X tons, which was approx. 79% of total imports in 2021. It was distantly followed by Bangladesh (X tons) and Sri Lanka (X tons), together generating a 16% share of total imports. Pakistan (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to driving and non-driving axle imports into India stood at +7.1%. At the same time, Bangladesh (+25.3%), Pakistan (+6.7%) and Sri Lanka (+4.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +25.3% from 2012-2021. From 2012 to 2021, the share of India and Bangladesh increased by +26 and +8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported drive-axles with differential and non-driving axles in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 3.9% share of total imports. It was followed by Sri Lanka, with a 3% share.

In India, driving and non-driving axle imports decreased by an average annual rate of -1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Pakistan (+5.5% per year) and Sri Lanka (+3.4% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2013 when the import price increased by 23%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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