Uzbekistan: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Uzbekistan

After four years of growth, the Uzbek driving and non-driving axle market decreased by -15.1% to $X in 2021. Over the period under review, consumption, however, saw a significant increase. Driving and non-driving axle consumption peaked at $X in 2020, and then declined dramatically in the following year.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from Uzbekistan

In 2021, overseas shipments of drive-axles with differential and non-driving axles increased by 1,129% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons), Kazakhstan (X tons) and Azerbaijan (X tons) were the main destinations of driving and non-driving axle exports from Uzbekistan, together accounting for 98% of total exports.

From 2017 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +2,575.8%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Azerbaijan ($X) and Kazakhstan ($X) appeared to be the largest markets for driving and non-driving axle exported from Uzbekistan worldwide, with a combined 97% share of total exports.

Canada, with a CAGR of +2,322.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average driving and non-driving axle export price amounted to $X per ton, with an increase of 10% against the previous year. In general, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2018 an increase of 368%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+77.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into Uzbekistan

In 2021, overseas purchases of drive-axles with differential and non-driving axles decreased by -28.9% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 159% against the previous year. Imports peaked at X tons in 2020, and then declined remarkably in the following year.

In value terms, driving and non-driving axle imports shrank to $X in 2021. In general, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 187% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of driving and non-driving axle to Uzbekistan, accounting for a 46% share of total imports. Moreover, driving and non-driving axle imports from Russia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 9.4% share.

From 2017 to 2021, the average annual growth rate of volume from Russia stood at +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+43.5% per year) and China (+86.0% per year).

In value terms, the largest driving and non-driving axle suppliers to Uzbekistan were South Korea ($X), Estonia ($X) and China ($X), together comprising 73% of total imports. These countries were followed by Russia, Italy, Kazakhstan and Lithuania, which together accounted for a further 19%.

Among the main suppliers, Kazakhstan, with a CAGR of +595.5%, saw 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

In 2021, the average driving and non-driving axle import price amounted to $X per ton, rising by 25% against the previous year. Over the period under review, import price indicated prominent growth from 2017 to 2021: its price increased at an average annual rate of +10.9% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, driving and non-driving axle import price increased by +51.4% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Estonia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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