United Kingdom: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in the UK

In 2022, the UK gearboxes and speed changers market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Gearboxes and Speed Changers in the UK

In value terms, gearboxes and speed changers production fell to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from the UK

In 2022, the amount of gearboxes and speed changers exported from the UK shrank rapidly to X tons, dropping by X% against the year before. Over the period under review, exports saw a slight descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers exports shrank to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

The United States (X tons) was the main destination for gearboxes and speed changers exports from the UK, with a X% share of total exports. Moreover, gearboxes and speed changers exports to the United States exceeded the volume sent to the second major destination, Denmark (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Spain (X% per year).

In value terms, the largest markets for gearboxes and speed changers exported from the UK were Italy ($X), the United States ($X) and Germany ($X), with a combined X% share of total exports. France, Canada, Denmark, Ireland, Turkey, China, the Netherlands, Spain, India and Finland lagged somewhat behind, together accounting for a further X%.

Denmark, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average gearboxes and speed changers export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Finland ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into the UK

In 2022, approx. X tons of gearboxes and speed changers were imported into the UK; which is down by X% compared with the previous year. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, gearboxes and speed changers imports reached $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of gearboxes and speed changers imports to the UK, with a combined X% share of total imports.

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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the United States ($X) constituted the largest gearboxes and speed changers suppliers to the UK, with a combined X% share of total imports. China, India, Japan, France, the Czech Republic, Denmark, Belgium and the Netherlands lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 gearboxes and speed changers import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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