Spain: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Spain

In 2022, the Spanish steering wheels and columns market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption recorded a pronounced shrinkage. Steering wheels and columns consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Spain

In value terms, steering wheels and columns production fell markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 9.4% against the previous year. Steering wheels and columns production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Spain

In 2022, the amount of steering wheels, steering columns and steering boxes exported from Spain contracted significantly to X tons, falling by -26.7% compared with the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 61% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports declined to $X in 2022. Over the period under review, exports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 22% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Poland (X tons) and France (X tons) were the main destinations of steering wheels and columns exports from Spain, together accounting for 43% of total exports. Germany, Italy, Austria, the UK, Sweden, Morocco, Slovakia, Belgium and the Czech Republic lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +111.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steering wheels and columns exported from Spain were the Netherlands ($X), France ($X) and Germany ($X), together accounting for 37% of total exports. Italy, Poland, Austria, the UK, Sweden, Morocco, the Czech Republic, Slovakia and Belgium lagged somewhat behind, together accounting for a further 45%.

Among the main countries of destination, Austria, with a CAGR of +99.7%, recorded 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

The average steering wheels and columns export price stood at $X per ton in 2022, with an increase of 20% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Poland ($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 the Czech Republic (+1.3%), while the prices for the other major destinations experienced a decline.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Spain

In 2022, purchases abroad of steering wheels, steering columns and steering boxes was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a mild expansion. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, steering wheels and columns imports rose significantly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 19%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Morocco (X tons), France (X tons) and Poland (X tons) were the main suppliers of steering wheels and columns imports to Spain, with a combined 56% share of total imports. Germany, Hungary, China, Italy, Tunisia, Portugal, the Czech Republic, the UK and Slovakia lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +36.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Germany ($X) and France ($X) constituted the largest steering wheels and columns suppliers to Spain, together comprising 57% of total imports. Poland, Hungary, Tunisia, Italy, Portugal, China, the Czech Republic, the UK and Slovakia lagged somewhat behind, together comprising a further 37%.

Among the main suppliers, Tunisia, with a CAGR of +47.5%, 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 steering wheels and columns import price amounted to $X per ton, rising by 6.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 17%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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