Spain: Shaft Coupling Market 2024

Shaft Coupling Market Size in Spain

The Spanish shaft coupling market shrank dramatically to $X in 2022, which is down by -20.6% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Shaft Coupling Production in Spain

In value terms, shaft coupling production expanded markedly to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +62.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 23% against the previous year. Over the period under review, production reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Shaft Coupling Exports

Exports from Spain

In 2022, approx. X tons of clutches and shaft couplings were exported from Spain; increasing by 6.6% compared with the previous year. Overall, exports, however, saw a perceptible decline. The pace of growth was the most pronounced in 2021 when exports increased by 31%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, shaft coupling exports expanded rapidly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 29%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main destinations of shaft coupling exports from Spain, with a combined 36% share of total exports. Brazil, India, Italy, Sweden, Turkey, France, Portugal, the UK, Japan and Finland lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +23.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Italy ($X) appeared to be the largest markets for shaft coupling exported from Spain worldwide, together accounting for 30% of total exports. China, Brazil, Sweden, India, France, Japan, Portugal, the UK, Finland and Turkey lagged somewhat behind, together accounting for a further 45%.

Among the main countries of destination, Turkey, with a CAGR of +17.4%, saw the highest growth rate of 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

In 2022, the average shaft coupling export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2020 an increase of 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Turkey ($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 Italy (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Spain

Shaft coupling imports into Spain declined modestly to X tons in 2022, therefore, remained relatively stable against the year before. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% 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 +30.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports shrank to $X in 2022. The total import value increased at an average annual rate of +1.0% 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 20%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and China (X tons) were the main suppliers of shaft coupling imports to Spain, together comprising 72% of total imports. Slovakia, the United States, India, Japan, France, Sweden and the Netherlands lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of clutches and shaft couplings to Spain, comprising 35% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.2% per year) and the United States (-1.3% per year).

Import Prices by Country

In 2022, the average shaft coupling import price amounted to $X per ton, shrinking by -5.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 37%. As a result, import price attained the peak level of $X per ton. From 2021 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 France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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