Spain: Transmission Shaft Market 2024

Transmission Shaft Market Size in Spain

The Spanish transmission shaft market fell notably to $X in 2022, with a decrease of -32.7% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Transmission Shaft Production in Spain

In value terms, transmission shaft production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 24%. Over the period under review, production hit record highs in 2022 and is likely to continue growth in the near future.

Transmission Shaft Exports

Exports from Spain

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 14% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.0% over the period 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 17%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, transmission shaft exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 29%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), the UK (X tons) and Germany (X tons) were the main destinations of transmission shaft exports from Spain, together comprising 47% of total exports. Brazil, Poland, France, Sweden, Mexico, Slovakia, Hungary, Italy, China and Portugal lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +72.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Spain, comprising 28% of total exports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+9.3% per year) and Germany (+1.6% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, with a decrease of -2.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Hungary ($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 (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Spain

In 2022, approx. X tons of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain were imported into Spain; with an increase of 2.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.0% over the period 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 2021 with an increase of 27% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, transmission shaft imports stood at $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 32%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of transmission shaft imports to Spain, together comprising 65% of total imports. India, the United States, France, Turkey, South Korea, Denmark, Brazil, Japan, the UK and Belgium lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest transmission shaft suppliers to Spain were Germany ($X), China ($X) and Italy ($X), with a combined 59% share of total imports. France, India, the United States, the UK, Turkey, Japan, South Korea, Denmark, Belgium and Brazil lagged somewhat behind, together comprising a further 28%.

Turkey, with a CAGR of +21.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 transmission shaft import price amounted to $X per ton, picking up by 1.8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

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 (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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