China: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in China

The Chinese gearboxes and speed changers market reduced modestly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption continues to indicate a slight decrease. Gearboxes and speed changers consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Gearboxes and Speed Changers in China

In value terms, gearboxes and speed changers production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports from China

In 2022, approx. X tons of gearboxes and speed changers were exported from China; surging by X% on the previous year. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, gearboxes and speed changers exports amounted to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Brazil (X tons) and India (X tons) were the main destinations of gearboxes and speed changers exports from China, with a combined X% share 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 Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and India ($X) constituted the largest markets for gearboxes and speed changers exported from China worldwide, together comprising X% of total exports. Japan, Germany, Italy, Iran, Mexico, Spain, Russia, Indonesia, Vietnam and Canada lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Indonesia ($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 Iran (X%), while the prices for the other major destinations experienced a decline.

Imports of Gearboxes and Speed Changers

Imports into China

After two years of growth, overseas purchases of gearboxes and speed changers decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, gearboxes and speed changers imports declined to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of gearboxes and speed changers imports to China, with a combined X% share of total imports. Italy, South Korea, India and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and Germany ($X) constituted the largest gearboxes and speed changers suppliers to China, with a combined X% share of total imports. The United States, Italy, South Korea and India lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, 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 gearboxes and speed changers import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, recorded a mild setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. 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 stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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