Venezuela: Transmission Shaft Market 2024

Transmission Shaft Market Size in Venezuela

The Venezuelan transmission shaft market reduced to $X in 2022, with a decrease of -4.8% 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). Overall, consumption, however, continues to indicate a significant decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Transmission Shaft Exports

Exports from Venezuela

In 2022, transmission shaft exports from Venezuela shrank to X tons, which is down by -10.9% compared with the year before. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 282%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, transmission shaft exports reduced to $X in 2022. Over the period under review, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when exports increased by 360% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X tons), China (X tons) and the United States (X kg) were the main destinations of transmission shaft exports from Venezuela, together comprising 79% of total exports. Costa Rica, Bolivia, Ecuador and Colombia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +21.7%), while the other leaders experienced more modest paces of growth.

In value terms, Panama ($X) emerged as the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Venezuela, comprising 61% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by Costa Rica, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama totaled +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+24.3% per year) and Costa Rica (+35.0% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, growing by 2.9% against the previous year. Overall, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 103%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the 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 Panama ($X per ton), while the average price for exports to Colombia ($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 Panama (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Venezuela

In 2022, purchases abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 5.9% to X tons, rising for the fourth consecutive year after six years of decline. In general, imports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 8.4% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports contracted dramatically to $X in 2022. Overall, imports, however, faced a sharp downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Venezuela, accounting for a 79% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-30.4% per year) and Malaysia (-12.7% per year).

In value terms, China ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Venezuela, comprising 41% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Germany, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-31.0% per year) and Germany (-29.7% per year).

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, shrinking by -20% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 33%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Hong Kong SAR (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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