Global Gear Box Market 2024

Gear Box Market Size

The global gear box market totaled $X in 2022, approximately reflecting the previous year. In general, the total consumption indicated a prominent 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 decreased by -4.0% against 2020 indices. Global consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Gear Box Production

In value terms, gear box production totaled $X in 2022 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -1.1% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 15% against the previous year. Over the period under review, global production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Gear Box Exports

Exports

In 2022, shipments abroad of gear boxes increased by 1.3% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 15%. Over the period under review, the global exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, gear box exports shrank to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 15%. Over the period under review, the global exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Japan (X units) and Germany (X units) were the key exporters of gear boxesin the world, together recording near 43% of total exports. China (X units) took the next position in the ranking, followed by South Korea (X units), Mexico (X units) and the United States (X units). All these countries together held near 27% share of total exports. France (X units), Romania (X units), Italy (X units), Belgium (X units), India (X units), Hungary (X units) and Thailand (X units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +24.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest gear box supplying countries worldwide were Germany ($X), Japan ($X) and the United States ($X), with a combined 56% share of global exports. Mexico, South Korea, China, France, Romania, Belgium, Italy, Hungary, Thailand and India lagged somewhat behind, together accounting for a further 32%.

Among the main exporting countries, Romania, with a CAGR of +25.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, shrinking by -6.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 8% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the other global leaders experienced more modest paces of growth.

Gear Box Imports

Imports

In 2022, purchases abroad of gear boxes increased by 11% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 12%. Global imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports rose to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 15% against the previous year. Over the period under review, global imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units), Germany (X units) and Mexico (X units) represented roughly 43% of total imports in 2022. The following importers - Brazil (X units), Belgium (X units), Thailand (X units), France (X units), Slovakia (X units), Spain (X units), Canada (X units), Romania (X units) and the Czech Republic (X units) - together made up 27% 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 Romania (with a CAGR of +20.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest gear box importing markets worldwide were the United States ($X), China ($X) and Germany ($X), together comprising 39% of global imports. Mexico, Brazil, Thailand, Spain, Canada, Belgium, Slovakia, Romania, France and the Czech Republic lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, Romania, with a CAGR of +22.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, shrinking by -7.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 5.8%. Global import price peaked at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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