Spain: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Spain

The Spanish cranks and crankshafts market declined to $X in 2022, which is down by -10.1% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Cranks And Crankshafts Production in Spain

In value terms, cranks and crankshafts production reduced sharply to $X in 2022 estimated in export price. In general, production recorded prominent growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 926%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Spain

In 2022, shipments abroad of cranks and crankshafts increased by 13% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 17%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports expanded notably to $X in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Germany (X tons) and the United States (X tons) were the main destinations of cranks and crankshafts exports from Spain, together accounting for 57% of total exports. Poland, Slovakia, France, Hungary, Mexico, Italy, Turkey and China lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +248.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cranks and crankshafts exported from Spain were the UK ($X), the United States ($X) and Germany ($X), with a combined 54% share of total exports. Poland, Italy, Slovakia, France, Mexico, Hungary, China and Turkey lagged somewhat behind, together accounting for a further 26%.

Slovakia, with a CAGR of +185.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. Overall, the export price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 16% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 China ($X per ton), while the average price for exports to Hungary ($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 China (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Spain

In 2022, approx. X tons of cranks and crankshafts were imported into Spain; falling by -3.2% against the year before. Overall, imports saw a mild decrease. The pace of growth was the most pronounced in 2018 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports expanded modestly to $X in 2022. In general, imports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 52%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest cranks and crankshafts supplier to Spain, with a 37% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.1% per year) and the United States (-0.6% per year).

In value terms, China ($X), Germany ($X) and the UK ($X) were the largest cranks and crankshafts suppliers to Spain, together accounting for 52% of total imports.

Among the main suppliers, China, with a CAGR of +36.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, with an increase of 5.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 31% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Brazil ($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 UK (+43.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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