Jordan: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Jordan

The Jordanian gearboxes and speed changers market shrank notably to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a noticeable descent. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Jordan

In 2022, approx. X tons of gearboxes and speed changers were exported from Jordan; jumping by X% compared with the previous year's figure. In general, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gearboxes and speed changers exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Free Zones (X tons) was the main destination for gearboxes and speed changers exports from Jordan, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to Free Zones exceeded the volume sent to the second major destination, Denmark (X tons), fourfold. Germany (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Free Zones stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Germany (X% per year).

In value terms, Free Zones ($X) emerged as the key foreign market for gearboxes and speed changers exports from Jordan, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average gearboxes and speed changers export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price enjoyed a mild expansion. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Free Zones ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Jordan

Gearboxes and speed changers imports into Jordan fell notably to X tons in 2022, dropping by X% compared with the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, gearboxes and speed changers imports contracted markedly to $X in 2022. In general, imports, however, continue to indicate a slight increase. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of gearboxes and speed changers imports to Jordan, together comprising X% of total imports. Canada, Italy, South Korea, France and Turkey lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest gearboxes and speed changers suppliers to Jordan were the United States ($X), China ($X) and Germany ($X), with a combined X% share of total imports. Canada, Italy, South Korea, France and Turkey lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Korea, 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

The average gearboxes and speed changers import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price continues to indicate a mild increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per ton) and the United States ($X per ton), while the price for South Korea ($X per ton) and Canada ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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