Bangladesh: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Bangladesh

The Bangladeshi gearboxes and speed changers market shrank to $X in 2022, waning by X% 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). Overall, consumption, however, posted prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Exports of Gearboxes and Speed Changers

Exports from Bangladesh

In 2022, approx. X tons of gearboxes and speed changers were exported from Bangladesh; which is down by X% on the year before. In general, exports showed a perceptible decline. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports fell sharply to $X in 2022. Overall, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X kg), Vietnam (X kg) and India (X kg) were the main destinations of gearboxes and speed changers exports from Bangladesh, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X) emerged as the key foreign market for gearboxes and speed changers exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and India (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Bangladesh

After six years of growth, purchases abroad of gearboxes and speed changers decreased by X% to X tons in 2022. In general, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, gearboxes and speed changers imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of gearboxes and speed changers to Bangladesh, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of gearboxes and speed changers to Bangladesh, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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