Which Country Imports the Most Transmission Shafts and Cranks, Bearing Housings and Plain Shaft Bearings, Gears and Gearing and Articulated Link Chain in the World?
Bearings, Gears, Gearing And Driving Elements May 28, 2018
In 2016, approx. 1.8M tonnes of transmission shaft were imported worldwide; dropping by -8.5% against the previous year level. Overall, transmission shaft imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010, when it surged by 8% against the previous year level. Over the period under review, global transmission shaft imports reached its maximum volume of 1.9M tonnes in 2015, falling back in the following year.
In value terms, transmission shaft imports amounted to $4.4B in 2016. The total import value increased at an average annual rate of +2.2% over the period from 2007 to 2016; the trend pattern indicated some noticeable fluctuations over the period under review. Over the period under review, global transmission shaft imports reached its maximum level of $5.1B in 2014; however, from 2015 to 2016, it stood at a somewhat lower level.
Top Transmission Shaft Importing Countries in the World
1. USA (559.5 million USD)
2. Germany (242.9 million USD)
3. Mexico (242.9 million USD)
4. China (192.5 million USD)
5. Japan (188.8 million USD)
6. United Kingdom (173.1 million USD)
7. Canada (168.4 million USD)
8. Indonesia (144.8 million USD)
9. South Korea (116.7 million USD)
10. Russia (93.5 million USD)
11. Brazil (87.8 million USD)
12. Spain (64.0 million USD)
Transmission Shaft Imports By Country
China (715K tonnes) was the major importer of transmission shaft in the world, amounting to 715K tonnes, which was approx. 41% of total imports in 2016. The U.S. (88K tonnes) ranks second globally in transmission shaft imports with a 5% share, following Germany (5%). Indonesia (50K tonnes), Japan (50K tonnes), Russia (35K tonnes), South Korea (34K tonnes), Brazil (34K tonnes), the UK (34K tonnes), Spain (33K tonnes), Canada (33K tonnes), and Mexico (29K tonnes) occupied the mild share of total imports.
China experienced a relatively flat trend pattern. At the same time, Indonesia (+8.6%), Mexico (+5.1%), Brazil (+3.5%), and Russia (+3.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest growing importer/exporter in the world, with a CAGR of +8.6% from 2007-2016. South Korea, the UK, Germany, and Japan experienced a relatively flat trend pattern. By contrast, Spain (-1.3%), Canada (-1.7%), and the U.S. (-6.4%) illustrated a downward trend over the same period. While the share of the U.S. (4%) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($560M) constitutes the largest market for imported transmission shaft worldwide, making up 13% of global imports. The second position in the ranking was occupied by Germany ($243M), with the share of 6% of global imports. It was followed by Mexico, with the share of 6%.
From 2007 to 2016, the average annual rate of growth in terms of value of transmission shaft imports in the U.S. decreased by -0.2%. The remaining importing countries recorded the following average annual rates: Germany (+0.8% per year) and Mexico (+12.2% per year).
Transmission Shaft Import Prices By Country
The average transmission shaft import price stood at $2,512 per tonne in 2016, stabilizing at the previous year level. Over the period from 2007 to 2016 it increased at an average annual rate of +2.7%.The most prominent rate of growth was recorded in 2008, when import increased by 19% against the previous year level. Over the period under review, average transmission shaft import price reached its maximum level of $2,665 per tonne in 2012; however, from 2013 to 2016, it failed to regain its strength.
Import prices varied noticeably by country of destination. the country with the highest import prices was Mexico ($8,348 per tonne), while China ($269 per tonne) was among the lowest.
From 2007 to 2016, the most notable growth rate of transmission shaft import prices was attained by Japan (+9.2% per year), while the other global leaders experienced more modest paces of growth.
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All data provided in this article covers the following product: HS Code 7315 - Chain and parts thereof, of iron or steel.
