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

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

In 2022, the Kazakh steering wheels and columns market was finally on the rise to reach $X after two years of decline. In general, consumption showed a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Kazakhstan

For the seventh year in a row, Kazakhstan recorded growth in shipments abroad of steering wheels, steering columns and steering boxes, which increased by 141% to X tons in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 188%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, steering wheels and columns exports skyrocketed to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 169% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for steering wheels and columns exports from Kazakhstan, with a 87% share of total exports. Moreover, steering wheels and columns exports to Russia exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), more than tenfold. Armenia (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +52.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+122.4% per year) and Armenia (+3.0% per year).

In value terms, Russia ($X) remains the key foreign market for steering wheels, steering columns and steering boxes exports from Kazakhstan, comprising 78% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 16% share of total exports. It was followed by Estonia, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+96.1% per year) and Estonia (-12.8% per year).

Export Prices by Country

In 2022, the average steering wheels and columns export price amounted to $X per ton, which is down by -36.8% against the previous year. Overall, the export price recorded a abrupt decrease. The growth pace was the most rapid in 2015 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 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 Kyrgyzstan ($X per ton), while the average price for exports to Armenia ($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 Armenia (+8.1%), while the prices for the other major destinations experienced a decline.

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Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Kazakhstan

In 2022, overseas purchases of steering wheels, steering columns and steering boxes increased by 63% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, steering wheels and columns imports surged to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steering wheels and columns to Kazakhstan, with a 65% share of total imports. Moreover, steering wheels and columns imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+1.5% per year) and South Korea (+80.1% per year).

In value terms, China ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Kazakhstan, comprising 45% of total imports. The second position in the ranking was taken by Russia ($X), with a 22% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+2.4% per year) and South Korea (+99.4% per year).

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, shrinking by -5.4% against the previous year. Overall, the import price recorded a pronounced reduction. The growth pace was the most rapid in 2021 an increase of 4.2% against the previous year. 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 remained at a lower figure.

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 Germany ($X per ton), while the price for Lithuania ($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 Arab Emirates (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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