Venezuela: Shaft Coupling Market 2024

Shaft Coupling Market Size in Venezuela

The Venezuelan shaft coupling market fell remarkably to $X in 2022, waning by -16.5% 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). Over the period under review, consumption faced a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Shaft Coupling Exports

Exports from Venezuela

In 2022, shaft coupling exports from Venezuela fell notably to X kg, waning by -24.2% against 2021. Over the period under review, exports faced a significant curtailment. The growth pace was the most rapid in 2014 with an increase of 755%. Over the period under review, the exports reached the maximum at X kg in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, shaft coupling exports declined dramatically to $X in 2022. Overall, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2014 when exports increased by 381%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X kg) was the main destination for shaft coupling exports from Venezuela, accounting for a 76% share of total exports. Moreover, shaft coupling exports to Panama exceeded the volume sent to the second major destination, Mexico (X kg), more than tenfold. The United States (X kg) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Panama stood at -22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-31.0% per year) and the United States (-30.3% per year).

In value terms, the largest markets for shaft coupling exported from Venezuela were Panama ($X), Mexico ($X) and the United States ($X), with a combined 99% share of total exports. China, Colombia, Luxembourg and Ecuador lagged somewhat behind, together accounting for a further 1.4%.

In terms of the main countries of destination, Luxembourg, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average shaft coupling export price stood at $X per ton in 2022, growing by 7% against the previous year. Overall, the export price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 153% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Ecuador ($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 Mexico (-0.5%), while the prices for the other major destinations experienced a decline.

Shaft Coupling Imports

Imports into Venezuela

In 2022, shaft coupling imports into Venezuela dropped to X tons, which is down by -10% on the previous year. In general, imports faced a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 110%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports fell markedly to $X in 2022. Overall, imports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 88%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of shaft coupling to Venezuela, accounting for a 80% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was taken by Democratic People's Republic of Korea (X tons), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+32.2% per year) and Democratic People's Republic of Korea (+4.1% per year).

In value terms, the largest shaft coupling suppliers to Venezuela were China ($X), Hong Kong SAR ($X) and Germany ($X), with a combined 60% share of total imports.

Hong Kong SAR, with a CAGR of +36.7%, 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 mixed trend patterns.

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, reducing by -14.8% against the previous year. Overall, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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