Flywheels And Pulleys Market

The global market for flywheels and pulleys is expected to see continued growth over the next eight years, with forecasted increases in both consumption and production volumes. In 2022, consumption decreased slightly but is projected to accelerate with a CAGR of +3.5% from 2022 to 2030, reaching 2.8M tons by the end of the period. Similarly, market value is forecast to increase with a CAGR of +5.8% over the same timeframe, reaching $47.6B by 2030. The largest consumers and producers include China, the United States, and India. Import and export data also show growth trends, with notable fluctuations in prices observed over the years.

Market Forecast

Driven by increasing demand for flywheels and pulleys worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 2.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.8% for the period from 2022 to 2030, which is projected to bring the market value to $47.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flywheels And Pulleys

In 2022, consumption of flywheels and pulleys decreased by -1.4% to 2.1M tons, falling for the third consecutive year after two years of growth. The total consumption volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the peak volume at 2.3M tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global flywheels and pulleys market size reached $30.3B in 2022, surging by 2.2% 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). The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the market value increased by 9.4%. Over the period under review, the global market attained the maximum level at $31B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (526K tons), the United States (290K tons) and India (210K tons), together comprising 49% of global consumption.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +5.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($9B), China ($6.5B) and India ($3.8B) were the countries with the highest levels of market value in 2022, together accounting for 64% of the global market. Japan, Brazil, Russia, Canada, Mexico, Iran, Democratic Republic of the Congo, Turkey, South Korea and Indonesia lagged somewhat behind, together comprising a further 21%.

Turkey, with a CAGR of +11.9%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of flywheels and pulleys per capita consumption in 2022 were Canada (999 kg per 1000 persons), Japan (963 kg per 1000 persons) and the United States (865 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United States (with a CAGR of +5.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Flywheels And Pulleys

For the third consecutive year, the global market recorded decline in production of flywheels and pulleys, which decreased by -1.5% to 1.9M tons in 2022. The total output volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 12% against the previous year. Over the period under review, global production reached the peak volume at 2.1M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, flywheels and pulleys production rose to $27.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 13%. Global production peaked at $28.2B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of flywheels and pulleys production was China (608K tons), accounting for 32% of total volume. Moreover, flywheels and pulleys production in China exceeded the figures recorded by the second-largest producer, the United States (221K tons), threefold. India (206K tons) ranked third in terms of total production with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +4.5%. In the other countries, the average annual rates were as follows: the United States (+4.1% per year) and India (+3.5% per year).

Imports

World Imports of Flywheels And Pulleys

In 2022, purchases abroad of flywheels and pulleys increased by 4.2% to 712K 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 +2.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, flywheels and pulleys imports stood at $6.7B in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 19%. As a result, imports reached the peak of $7.2B. From 2015 to 2022, the growth of global imports remained at a lower figure.

Imports By Country

Germany (88K tons) and the United States (76K tons) represented the largest importers of flywheels and pulleys in 2022, amounting to near 12% and 11% of total imports, respectively. Italy (46K tons) ranks next in terms of the total imports with a 6.5% share, followed by Mexico (6.2%), Japan (5.7%), France (5.4%), Poland (4.7%) and the UK (4.5%). Thailand (28K tons), South Korea (18K tons), Brazil (18K tons), Turkey (18K tons) and Spain (16K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +13.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest flywheels and pulleys importing markets worldwide were Germany ($776M), the United States ($735M) and Mexico ($429M), with a combined 29% share of global imports. France, Poland, Italy, Japan, the UK, Turkey, South Korea, Brazil, Spain and Thailand lagged somewhat behind, together comprising a further 34%.

Turkey, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average flywheels and pulleys import price amounted to $9,352 per ton, falling by -3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 9.9% against the previous year. As a result, import price attained the peak level of $11,357 per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Turkey ($11,879 per ton), while Thailand ($4,245 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flywheels And Pulleys

In 2022, overseas shipments of flywheels and pulleys increased by 6% to 530K tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 29% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, flywheels and pulleys exports reduced slightly to $5.6B in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports reached the peak figure at $6.3B in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports By Country

China (96K tons) and Germany (90K tons) represented roughly 35% of total exports in 2022. Italy (46K tons) held an 8.6% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (7.8%), Turkey (7.3%) and Japan (7.1%). The following exporters - France (22K tons), the Czech Republic (14K tons), Tunisia (13K tons), Poland (11K tons), Canada (11K tons), Thailand (10K tons) and Belgium (9.6K tons) - together made up 17% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +20.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1.3B) remains the largest flywheels and pulleys supplier worldwide, comprising 24% of global exports. The second position in the ranking was held by China ($450M), with an 8% share of global exports. It was followed by Japan, with a 6.9% share.

In Germany, flywheels and pulleys exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+4.5% per year) and Japan (-3.7% per year).

Export Prices By Country

In 2022, the average flywheels and pulleys export price amounted to $10,555 per ton, which is down by -8.8% against the previous year. Overall, the export price showed a mild slump. The most prominent rate of growth was recorded in 2020 an increase of 8.4% against the previous year. The global export price peaked at $13,240 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($20,143 per ton), while Tunisia ($1,461 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform