Uzbekistan: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Uzbekistan

The Uzbek cranks and crankshafts market skyrocketed to $X in 2022, growing by 62% 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, consumption showed a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cranks And Crankshafts Exports

Exports from Uzbekistan

In 2022, cranks and crankshafts exports from Uzbekistan skyrocketed to X tons, increasing by 124% compared with the previous year. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts exports surged to $X in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 149% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan (X tons) was the main destination for cranks and crankshafts exports from Uzbekistan, accounting for a 68% share of total exports. Moreover, cranks and crankshafts exports to Kazakhstan exceeded the volume sent to the second major destination, Russia (X tons), sixfold. The third position in this ranking was taken by Azerbaijan (X tons), with a 6.7% share.

From 2017 to 2022, the average annual growth rate of volume to Kazakhstan amounted to +424.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+16.9% per year) and Azerbaijan (+24.1% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for cranks and crankshafts exports from Uzbekistan, comprising 71% of total exports. The second position in the ranking was held by Russia ($X), with an 11% share of total exports. It was followed by Tajikistan, with a 4.5% share.

From 2017 to 2022, the average annual rate of growth in terms of value to Kazakhstan stood at +381.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+5.8% per year) and Tajikistan (+107.0% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, with a decrease of -26.1% against the previous year. Over the period under review, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

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 Belgium ($X per ton), while the average price for exports to Azerbaijan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (-8.1%), while the prices for the other major destinations experienced a decline.

Cranks And Crankshafts Imports

Imports into Uzbekistan

Cranks and crankshafts imports into Uzbekistan soared to X tons in 2022, growing by 112% on the previous year. Overall, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts imports soared to $X in 2022. In general, total imports indicated a remarkable increase from 2017 to 2022: its value increased at an average annual rate of +17.0% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Korea (X tons) constituted the largest cranks and crankshafts supplier to Uzbekistan, with a 74% share of total imports. Moreover, cranks and crankshafts imports from South Korea exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), eightfold. India (X tons) ranked third in terms of total imports with a 5.4% share.

From 2017 to 2022, the average annual growth rate of volume from South Korea totaled +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+51.4% per year) and India (+7.7% per year).

In value terms, India ($X), South Korea ($X) and China ($X) constituted the largest cranks and crankshafts suppliers to Uzbekistan, with a combined 78% share of total imports. Russia, Lithuania and Poland lagged somewhat behind, together accounting for a further 8.9%.

Among the main suppliers, Lithuania, with a CAGR of +64.2%, recorded the highest growth rate of 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, falling by -23.3% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth was the most pronounced in 2019 when the average import price increased by 79% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 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 India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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