Peru: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Peru

The Peruvian market for toothed wheels, chain sprockets and other transmission elements soared to $X in 2021, with an increase of 16% 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). Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +86.2% against 2015 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Peru

In 2021, overseas shipments of toothed wheels, chain sprockets and other transmission elements increased by 112% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted noticeable growth. The most prominent rate of growth was recorded in 2015 when exports increased by 299%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 213% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Peru, with a 65% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to the United States exceeded the volume sent to the second major destination, the Czech Republic (X tons), eightfold. Bolivia (X tons) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+75.3% per year) and Bolivia (+29.5% per year).

In value terms, the United States ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from Peru, comprising 65% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 4.8% share of total exports. It was followed by Ecuador, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+108.9% per year) and Ecuador (+0.8% per year).

Export Prices by Country

The average export price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, rising by 9% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for toothed wheels, chain sprockets and other transmission elements increased by +67.4% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of 50%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Peru

Imports of toothed wheels, chain sprockets and other transmission elements into Peru surged to X tons in 2021, growing by 29% on the year before. Overall, imports, however, recorded a slight curtailment. The growth pace was the most rapid in 2018 with an increase of 37%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements rose markedly to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 43%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Peru, together accounting for 60% of total imports. Germany, Brazil, Japan, Mexico, Canada, France and India lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of toothed wheels, chain sprockets and other transmission elements to Peru, comprising 38% of total imports. The second position in the ranking was held by China ($X), with an 8.8% share of total imports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.9% per year) and Germany (+3.6% per year).

Import Prices by Country

The average import price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, dropping by -12.5% against the previous year. Overall, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 65%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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