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

Market Size for Steering Wheels, Steering Columns And Steering Boxes in the EU

In 2022, the EU steering wheels and columns market was finally on the rise to reach $X after four years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in the EU

In value terms, steering wheels and columns production rose rapidly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 18%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports in the EU

In 2022, overseas shipments of steering wheels, steering columns and steering boxes increased by 1.5% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 11% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, steering wheels and columns exports declined to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), Poland (X tons), the Czech Republic (X tons), Hungary (X tons) and Romania (X tons) were the main exporters of steering wheels, steering columns and steering boxes, together constituting 81% of total exports. Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +5.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest steering wheels and columns supplier in the European Union, comprising 34% of total exports. The second position in the ranking was held by Poland ($X), with a 14% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at -1.1%. In the other countries, the average annual rates were as follows: Poland (+3.3% per year) and France (-4.6% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, waning by -9.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 7.8%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Romania ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+1.1%), while the other leaders experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports in the EU

In 2022, the amount of steering wheels, steering columns and steering boxes imported in the European Union amounted to X tons, with an increase of 2% against the year before. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 8.5% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, steering wheels and columns imports declined slightly to $X in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 13%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), Poland (X tons), Spain (X tons), the Czech Republic (X tons), Hungary (X tons), Slovakia (X tons) and Italy (X tons) represented the main importers of steering wheels, steering columns and steering boxes, together constituting 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hungary (with a CAGR of +15.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported steering wheels, steering columns and steering boxes in the European Union, comprising 29% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Spain, with an 8.8% share.

In Germany, steering wheels and columns imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (-1.1% per year) and Spain (+0.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, declining by -3.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 9.6%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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