Colombia: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Colombia

In 2022, the Colombian gearboxes and speed changers market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. Gearboxes and speed changers consumption peaked in 2022 and is likely to continue growth in the near future.

Exports of Gearboxes and Speed Changers

Exports from Colombia

In 2022, approx. X tons of gearboxes and speed changers were exported from Colombia; growing by X% compared with 2021 figures. In general, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, gearboxes and speed changers exports soared to $X in 2022. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for gearboxes and speed changers exports from Colombia, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to Belgium exceeded the volume sent to the second major destination, the United States (X tons), threefold. India (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Belgium ($X) emerged as the key foreign market for gearboxes and speed changers exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Ecuador (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price 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, gearboxes and speed changers export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Spain ($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 Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Gearboxes and Speed Changers

Imports into Colombia

In 2022, overseas purchases of gearboxes and speed changers increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, gearboxes and speed changers imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gearboxes and speed changers to Colombia, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.

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

In value terms, China ($X), the United States ($X) and Brazil ($X) were the largest gearboxes and speed changers suppliers to Colombia, with a combined X% share of total imports. Italy, Germany, Japan, India and Mexico lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :