Uruguay: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Uruguay

The Uruguayan cranks and crankshafts market skyrocketed to $X in 2022, jumping by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.1% against 2014 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Cranks And Crankshafts Exports

Exports from Uruguay

In 2022, overseas shipments of cranks and crankshafts decreased by -82.5% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate modest growth. The pace of growth appeared the most rapid in 2014 with an increase of 339% against the previous year. 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 reduced markedly to $X in 2022. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2014 with an increase of 387% against the previous year. The exports peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Germany (X kg) was the main destination for cranks and crankshafts exports from Uruguay, with a 58% share of total exports. Moreover, cranks and crankshafts exports to Germany exceeded the volume sent to the second major destination, Brazil (X kg), twofold. Argentina (X kg) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled -39.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-16.8% per year) and Argentina (+42.0% per year).

In value terms, the largest markets for cranks and crankshafts exported from Uruguay were Germany ($X), Argentina ($X) and the United States ($X), with a combined 94% share of total exports.

Argentina, with a CAGR of +26.8%, saw 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 a decline.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, jumping by 39% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price increased by +64.1% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Brazil ($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 Chile (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Uruguay

For the fourth year in a row, Uruguay recorded growth in supplies from abroad of cranks and crankshafts, which increased by 16% to X tons in 2022. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by 41% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, cranks and crankshafts imports skyrocketed to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of cranks and crankshafts imports to Uruguay, with a combined 68% 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 Germany (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest cranks and crankshafts suppliers to Uruguay, with a combined 47% share of total imports. Brazil, Turkey, Italy, Spain and Argentina lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Turkey, with a CAGR of +16.2%, recorded 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

The average cranks and crankshafts import price stood at $X per ton in 2022, rising by 4.9% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, 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 the United States ($X per ton), while the price for Germany ($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 United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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