Bangladesh: Market for Toothed wheels, chain sprockets and other transmission elements 2023

Market Size for Toothed wheels, chain sprockets and other transmission elements in Bangladesh

After two years of decline, the Bangladeshi market for toothed wheels, chain sprockets and other transmission elements increased by 69% to $X in 2021. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Bangladesh

In 2021, approx. X tons of toothed wheels, chain sprockets and other transmission elements were exported from Bangladesh; which is down by -3.4% compared with the previous year's figure. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 8,823%. Over the period under review, the exports of hit record highs at X tons in 2020, and then declined slightly in the following year.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 10,787% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Malaysia (X kg) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Bangladesh, accounting for a 12% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to Malaysia exceeded the volume sent to the second major destination, Austria (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at -73.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-28.7% per year) and Poland (+20.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from Bangladesh, comprising 47% of total exports. The second position in the ranking was taken by Austria ($X), with a 2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-46.2% per year) and Poland (+12.7% per year).

Export Prices by Country

In 2021, the average export price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, surging by 50% against the previous year. Over the period under review, the export price, however, showed a slight slump. The pace of growth was the most pronounced in 2019 an increase of 73%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+389.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Bangladesh

In 2021, supplies from abroad of toothed wheels, chain sprockets and other transmission elements was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. In general, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest toothed wheels, chain sprockets and other transmission elements supplier to Bangladesh, accounting for a 66% share of total imports. Moreover, imports of toothed wheels, chain sprockets and other transmission elements from China exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. The third position in this ranking was held by Russia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-0.5% per year) and Russia (+186.9% per year).

In value terms, China ($X) constituted the largest supplier of toothed wheels, chain sprockets and other transmission elements to Bangladesh, comprising 25% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Russia, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.3% per year) and Russia (+173.9% per year).

Import Prices by Country

The average import price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, rising by 27% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for toothed wheels, chain sprockets and other transmission elements increased by +102.5% against 2013 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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