Russian Federation: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in the Russian Federation

The Russian steering wheels and columns market dropped to $X in 2022, declining by -12.4% 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, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined in the following year.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from the Russian Federation

In 2022, after four years of growth, there was decline in shipments abroad of steering wheels, steering columns and steering boxes, when their volume decreased by -4.8% to X tons. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 42% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports shrank to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 44%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Belarus (X tons), Kazakhstan (X tons) and Ukraine (X tons) were the main destinations of steering wheels and columns exports from Russia, with a combined 78% share of total exports. Azerbaijan, Egypt and Uzbekistan lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +33.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and Ukraine ($X) were the largest markets for steering wheels and columns exported from Russia worldwide, together comprising 77% of total exports. Egypt, Azerbaijan and Uzbekistan lagged somewhat behind, together accounting for a further 16%.

Uzbekistan, with a CAGR of +39.5%, 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

The average steering wheels and columns export price stood at $X per ton in 2022, falling by -7.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 44%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Azerbaijan ($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 Egypt (+9.6%), 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 the Russian Federation

Steering wheels and columns imports into Russia dropped to X tons in 2022, shrinking by -9.7% compared with the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, steering wheels and columns imports shrank to $X in 2022. Over the period under review, imports saw a mild downturn. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of steering wheels and columns imports to Russia, with a combined 63% share of total imports. Turkey, France, Poland, Germany, Malaysia, the Czech Republic, Romania, Taiwan (Chinese), Belarus and Slovakia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steering wheels and columns suppliers to Russia were South Korea ($X), China ($X) and Japan ($X), together comprising 57% of total imports. Poland, Germany, Malaysia, France, Romania, the Czech Republic, Turkey, Taiwan (Chinese), Belarus and Slovakia lagged somewhat behind, together accounting for a further 36%.

Malaysia, with a CAGR of +38.6%, saw the highest growth rate of 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

In 2022, the average steering wheels and columns import price amounted to $X per ton, waning by -3.2% against the previous year. In general, the import price showed a slight slump. The growth pace was the most rapid in 2021 when the average import price increased by 7.6%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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