United Arab Emirates: Transmission Shaft Market 2024

Transmission Shaft Market Size in the United Arab Emirates

After three years of growth, the transmission shaft market in the United Arab Emirates decreased by -7.2% to $X in 2022. Over the period under review, consumption, however, recorded buoyant growth. Transmission shaft consumption peaked at $X in 2021, and then declined in the following year.

Transmission Shaft Exports

Exports from the United Arab Emirates

In 2022, after three years of decline, there was significant growth in overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, when their volume increased by 30% to X tons. Overall, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -31.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, transmission shaft exports expanded remarkably to $X in 2022. In general, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -28.8% against 2018 indices. The pace of growth was the most pronounced in 2017 when exports increased by 25% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons), Kazakhstan (X tons) and India (X tons) were the main destinations of transmission shaft exports from the United Arab Emirates, together accounting for 41% of total exports. Zimbabwe, Norway, Germany, Tanzania, Singapore, Rwanda, the United States, Hong Kong SAR, Sri Lanka and the Netherlands 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 Norway (with a CAGR of +83.4%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and the United States ($X) were the largest markets for transmission shaft exported from the United Arab Emirates worldwide, with a combined 29% share of total exports. Bahrain, Singapore, Hong Kong SAR, Tanzania, Kazakhstan, Norway, Zimbabwe, the Netherlands, Rwanda and Sri Lanka lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, Norway, with a CAGR of +66.1%, 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

The average transmission shaft export price stood at $X per ton in 2022, declining by -18.2% against the previous year. Over the period under review, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 42%. The export price peaked at $X per ton in 2021, and then dropped notably in the following year.

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 the United States ($X per ton), while the average price for exports to Kazakhstan ($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 Germany (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into the United Arab Emirates

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 2.2% to X tons, rising for the fourth consecutive year after four years of decline. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 56%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, transmission shaft imports dropped modestly to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.6% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 46%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of transmission shaft to the United Arab Emirates, accounting for a 44% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.8% per year) and India (+12.1% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) were the largest transmission shaft suppliers to the United Arab Emirates, together accounting for 37% of total imports. The United States, India, Italy, Belgium and Turkey lagged somewhat behind, together accounting for a further 23%.

Italy, with a CAGR of +12.8%, recorded 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

The average transmission shaft import price stood at $X per ton in 2022, which is down by -4.2% against the previous year. In general, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 11% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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