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

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

In 2022, after two years of growth, there was significant decline in the Pakistani steering wheels and columns market, when its value decreased by -5.1% to $X. Overall, consumption, however, saw a notable expansion. Steering wheels and columns consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Pakistan

In 2022, steering wheels and columns exports from Pakistan surged to X tons, with an increase of 39% against the previous year's figure. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 333%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports soared to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 262%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons), the United Arab Emirates (X tons) and Italy (X tons) were the main destinations of steering wheels and columns exports from Pakistan, together accounting for 69% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +40.4%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Italy ($X) and the United States ($X) constituted the largest markets for steering wheels and columns exported from Pakistan worldwide, together comprising 79% of total exports. Turkey, France, the UK and the United Arab Emirates lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +46.2%, saw the highest rates of growth with regard to the value of exports, 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, waning by -2.1% against the previous year. In general, the export price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of 177%. The export price peaked at $X per ton in 2018; however, from 2019 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 United States ($X per ton), while the average price for exports to the United Arab Emirates ($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 Czech Republic (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Pakistan

Steering wheels and columns imports into Pakistan fell sharply to X tons in 2022, with a decrease of -23.2% compared with the previous year's figure. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 114% 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 reached $X in 2022. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 74% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Bulgaria (X tons), Turkey (X tons) and China (X tons) were the main suppliers of steering wheels and columns imports to Pakistan, together comprising 76% of total imports. South Korea, the United Arab Emirates, Thailand and Japan lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steering wheels and columns suppliers to Pakistan were Bulgaria ($X), Turkey ($X) and China ($X), together comprising 76% of total imports. The United Arab Emirates, South Korea, Thailand and Japan lagged somewhat behind, together comprising a further 22%.

The United Arab Emirates, with a CAGR of +32.7%, saw the highest rates of growth with regard to the value of imports, in terms of 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 steering wheels and columns import price stood at $X per ton in 2022, rising by 32% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steering wheels and columns import price increased by +42.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 34%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Bulgaria ($X per ton), while the price for Thailand ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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