Australia: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Australia

The Australian steering wheels and columns market skyrocketed to $X in 2022, increasing by 19% 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). In general, consumption, however, recorded a pronounced decline. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Australia

In 2022, after two years of growth, there was significant decline in shipments abroad of steering wheels, steering columns and steering boxes, when their volume decreased by -21.1% to X tons. Over the period under review, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 91%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports fell to $X in 2022. Overall, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when exports increased by 136%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons), the United States (X tons) and Papua New Guinea (X tons) were the main destinations of steering wheels and columns exports from Australia, with a combined 58% share of total exports. Indonesia, China, Spain, Singapore, Germany, India, the United Arab Emirates and Thailand lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +40.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steering wheels and columns exported from Australia were New Zealand ($X), the United States ($X) and Papua New Guinea ($X), with a combined 58% share of total exports. Indonesia, China, Spain, Singapore, Germany, India, the United Arab Emirates and Thailand lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Indonesia, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, with an increase of 9.3% against the previous year. Overall, the export price, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Germany ($X per ton), while the average price for exports to Singapore ($X per ton) and Papua New Guinea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.

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Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Australia

Steering wheels and columns imports into Australia surged to X tons in 2022, rising by 17% compared with the previous year. In general, imports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 with an increase of 36%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, steering wheels and columns imports soared to $X in 2022. Over the period under review, imports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of steering wheels and columns to Australia, accounting for a 35% share of total imports. Moreover, steering wheels and columns imports from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+22.6% per year) and Germany (+11.9% per year).

In value terms, the United States ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Australia, comprising 35% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+30.1% per year) and Germany (+8.0% per year).

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2014 when the average import price increased by 41%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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