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

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

The Brazilian steering wheels and columns market expanded modestly to $X in 2022, increasing by 2.2% against the previous year. Overall, consumption, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 5.1%. Steering wheels and columns consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Brazil

In value terms, steering wheels and columns production expanded to $X in 2022 estimated in export price. In general, production, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 10%. Steering wheels and columns production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Brazil

In 2022, the amount of steering wheels, steering columns and steering boxes exported from Brazil expanded significantly to X tons, picking up by 5.7% compared with the year before. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a slight setback. The pace of growth appeared the most rapid in 2021 with an increase of 69%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for steering wheels and columns exports from Brazil, accounting for a 51% share of total exports. Moreover, steering wheels and columns exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Colombia (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina totaled -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.1% per year) and Colombia (+9.9% per year).

In value terms, Argentina ($X) remains the key foreign market for steering wheels, steering columns and steering boxes exports from Brazil, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by Colombia, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.8% per year) and Colombia (+6.1% per year).

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period under review, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 14%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Germany ($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 France (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Brazil

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were imported into Brazil; growing by 1.6% on the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, steering wheels and columns imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 41%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steering wheels and columns to Brazil, with a 28% share of total imports. Moreover, steering wheels and columns imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+23.9% per year) and South Korea (-4.3% per year).

In value terms, the largest steering wheels and columns suppliers to Brazil were China ($X), Mexico ($X) and the United States ($X), together accounting for 51% of total imports.

Among the main suppliers, China, with a CAGR of +29.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steering wheels and columns import price amounted to $X per ton, surging by 5.7% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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