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

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

The UK market for toothed wheels, chain sprockets and other transmission elements was estimated at $X in 2021, surging by 13% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in the UK

In value terms, production of toothed wheels, chain sprockets and other transmission elements reached $X in 2021 estimated in export price. Overall, production showed a abrupt descent. The growth pace was the most rapid in 2018 when the production volume increased by 18%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from the UK

In 2021, overseas shipments of toothed wheels, chain sprockets and other transmission elements increased by 16% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 39%. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Brazil (X tons) and China (X tons) were the main destinations of exports of toothed wheels, chain sprockets and other transmission elements from the UK, with a combined 32% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +47.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from the UK, comprising 23% of total exports. The second position in the ranking was taken by Italy ($X), with a 7.7% share of total exports. It was followed by Germany, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.6% per year) and Germany (-1.2% 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, picking up by 5.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2019 when the average export price increased by 35%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Brazil ($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 Italy (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into the UK

In 2021, overseas purchases of toothed wheels, chain sprockets and other transmission elements increased by 23% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements stood at $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 28%. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of toothed wheels, chain sprockets and other transmission elements to the UK, with a 35% share of total imports. Moreover, imports of toothed wheels, chain sprockets and other transmission elements from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and India (+10.4% per year).

In value terms, the largest toothed wheels, chain sprockets and other transmission elements suppliers to the UK were Germany ($X), China ($X) and the United States ($X), with a combined 48% share of total imports. France, Italy, India, South Korea, Hungary, Mexico, Turkey and Slovakia lagged somewhat behind, together comprising a further 31%.

In terms of the main suppliers, South Korea, with a CAGR of +15.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, which is down by -6.6% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 an increase of 20%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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