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

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

In 2022, the Luxembourg steering wheels and columns market increased by 8.6% to $X, rising for the second year in a row after four years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Luxembourg

Steering wheels and columns exports from Luxembourg contracted dramatically to X tons in 2022, with a decrease of -32.1% on the year before. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 238%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, steering wheels and columns exports contracted notably to $X in 2022. In general, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of 130% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for steering wheels and columns exports from Luxembourg, accounting for a 49% share of total exports. Moreover, steering wheels and columns exports to Belgium exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by France (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium stood at +35.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+41.2% per year) and France (+12.8% per year).

In value terms, Belgium ($X), France ($X) and Poland ($X) appeared to be the largest markets for steering wheels and columns exported from Luxembourg worldwide, with a combined 84% share of total exports. Italy, Germany, Austria, the UK and Spain lagged somewhat behind, together comprising a further 13%.

Austria, with a CAGR of +33.2%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average steering wheels and columns export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Poland ($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 the UK (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Luxembourg

In 2022, the amount of steering wheels, steering columns and steering boxes imported into Luxembourg fell slightly to X tons, waning by -4.9% on 2021. Over the period under review, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +16.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, steering wheels and columns imports shrank to $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +8.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 60% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of steering wheels and columns to Luxembourg, with a 66% share of total imports. Moreover, steering wheels and columns imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. The third position in this ranking was taken by France (X tons), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-5.0% per year) and France (+2.8% per year).

In value terms, Germany ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Luxembourg, comprising 57% of total imports. The second position in the ranking was held by Belgium ($X), with a 13% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+3.2% per year) and France (-0.9% per year).

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, which is down by -8.9% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

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 France ($X per ton), while the price for the United States ($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 UK (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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