Overview of the Global Market for Drive-Axles with Differential and Non-Driving Axles

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

The global driving and non-driving axle market expanded to $X in 2022, picking up by 4.8% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +72.1% against 2012 indices. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

In value terms, driving and non-driving axle production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 15% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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

Exports

In 2022, overseas shipments of drive-axles with differential and non-driving axles increased by 5.3% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 23%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, driving and non-driving axle exports totaled $X in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Germany (X tons) and China (X tons) represented roughly 31% of total exports in 2022. Mexico (X tons) took the next position in the ranking, followed by South Korea (X tons), Italy (X tons), Japan (X tons) and the United States (X tons). All these countries together held near 35% share of total exports. The following exporters - India (X tons), Sweden (X tons), France (X tons), Belgium (X tons), Poland (X tons) and Austria (X tons) - together made up 18% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +18.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest driving and non-driving axle supplying countries worldwide were Germany ($X), the United States ($X) and Mexico ($X), together comprising 39% of global exports. Japan, China, Italy, South Korea, Austria, Sweden, Poland, Belgium, France and India lagged somewhat behind, together comprising a further 46%.

India, with a CAGR of +18.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average driving and non-driving axle export price stood at $X per ton in 2022, with a decrease of -3.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 5.4% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the other global leaders experienced more modest paces of growth.

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

Imports

In 2022, overseas purchases of drive-axles with differential and non-driving axles increased by 11% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. Global imports peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, driving and non-driving axle imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons), followed by Germany (X tons) and Mexico (X tons) represented the main importers of drive-axles with differential and non-driving axles, together committing 36% of total imports. The Czech Republic (X tons), Canada (X tons), the UK (X tons), France (X tons), Turkey (X tons), Brazil (X tons), Poland (X tons), Thailand (X tons), Russia (X tons) and Belgium (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +12.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported drive-axles with differential and non-driving axles worldwide, comprising 21% of global imports. The second position in the ranking was taken by Mexico ($X), with a 9.7% share of global imports. It was followed by Germany, with a 9.3% share.

In the United States, driving and non-driving axle imports expanded at an average annual rate of +6.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+2.5% per year) and Germany (+1.9% per year).

Import Prices by Country

The average driving and non-driving axle import price stood at $X per ton in 2022, falling by -3.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 7.9%. Global import price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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