Venezuela: Market for Drive-Axles with Differential and Non-Driving Axles 2025

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

In 2021, the Venezuelan driving and non-driving axle market increased by 39% to $X, rising for the third consecutive year after six years of decline. Over the period under review, consumption, however, continues to indicate a sharp slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

Exports from Venezuela

For the third year in a row, Venezuela recorded decline in shipments abroad of drive-axles with differential and non-driving axles, which decreased by -4.2% to X tons in 2021. In general, exports showed a precipitous shrinkage. The growth pace was the most rapid in 2018 when exports increased by 95%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, driving and non-driving axle exports fell to $X in 2021. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2018 with an increase of 79%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) and Colombia (X tons) were the main destinations of driving and non-driving axle exports from Venezuela.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of -22.1%).

In value terms, the United States ($X) remains the key foreign market for driving and non-driving axle exports from Venezuela, comprising 78% of total exports. The second position in the ranking was held by Colombia ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -24.6%.

Export Prices by Country

In 2021, the average driving and non-driving axle export price amounted to $X per ton, with a decrease of -3% against the previous year. Overall, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.2%).

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

Imports into Venezuela

In 2021, supplies from abroad of drive-axles with differential and non-driving axles increased by 48% to X tons, rising for the third consecutive year after six years of decline. In general, imports, however, saw a dramatic setback. The most prominent rate of growth was recorded in 2019 with an increase of 55% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, driving and non-driving axle imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 51% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of driving and non-driving axle to Venezuela, accounting for a 62% share of total imports. Moreover, driving and non-driving axle imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+128.6% per year) and the United States (-44.1% per year).

In value terms, China ($X) constituted the largest supplier of driving and non-driving axle to Venezuela, comprising 67% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by the United States, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+132.7% per year) and the United States (-43.2% per year).

Import Prices by Country

In 2021, the average driving and non-driving axle import price amounted to $X per ton, which is down by -13.9% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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