Speed Changer Price in China - 2023

Contents:

1. Speed Changer Price in China (FOB) - 2023
2. Speed Changer Price in China (CIF) - 2023
3. Speed Changer Exports in China
4. Speed Changer Imports in China

Speed Changer Price in China (FOB) - 2023

The average speed changer export price stood at $5,743 per ton in June 2023, which is down by -2% against the previous month. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 an increase of 5% m-o-m. As a result, the export price attained the peak level of $6,275 per ton. From March 2023 to June 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Thailand ($7,594 per ton), while the average price for exports to Italy ($4,383 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Speed Changer Price in China (CIF) - 2023

In June 2023, the average speed changer import price amounted to $18,379 per ton, growing by 6.2% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 when the average import price increased by 7.7% month-to-month. The import price peaked at $20,072 per ton in June 2022; however, from July 2022 to June 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was France ($29,907 per ton), while the price for South Korea ($4,881 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by France (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Speed Changer Exports in China

Speed changer exports from China amounted to 1.1M tons in 2022, growing by 3.1% on 2021. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +19.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, speed changer exports rose notably to $6.8B in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +12.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 36% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Speed Changer from China in 2022:

1. United States (179.4K tons)
2. India (91.2K tons)
3. Germany (79.8K tons)
4. Italy (79.4K tons)
5. Japan (79.4K tons)
6. Brazil (70.5K tons)
7. South Korea (39.9K tons)
8. Mexico (36.4K tons)
9. Russia (32.5K tons)
10. Spain (27.7K tons)
11. United Kingdom (26.9K tons)
12. Canada (26.6K tons)
13. Indonesia (25.0K tons)

Speed Changer Imports in China

In 2022, after three years of growth, there was significant decline in purchases abroad of speed changers, industrial high-speed drives and gear, when their volume decreased by -6% to 211K tons. The total import volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. As a result, imports attained the peak of 225K tons, and then declined in the following year.

In value terms, speed changer imports reduced to $3.8B in 2022. The total import value increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 22%. As a result, imports reached the peak of $4.2B, and then reduced in the following year.

Top Suppliers of Speed Changer to China in 2022:

1. South Korea (48.2K tons)
2. Germany (43.1K tons)
3. Japan (36.1K tons)
4. United States (10.6K tons)
5. Italy (9.7K tons)
6. France (6.1K tons)
7. India (5.4K tons)
8. Belgium (2.8K tons)

Source: IndexBox Market Intelligence Platform