Southern Asia: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Southern Asia

The South Asian gearboxes and speed changers market reached $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Gearboxes and Speed Changers in Southern Asia

In value terms, gearboxes and speed changers production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports in Southern Asia

In 2022, the amount of gearboxes and speed changers exported in Southern Asia soared to X tons, growing by X% on 2021. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, gearboxes and speed changers exports expanded rapidly to $X in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

India (X tons) represented roughly X% of total exports in 2022.

India was also the fastest-growing in terms of the gearboxes and speed changers exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest gearboxes and speed changers supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Imports of Gearboxes and Speed Changers

Imports in Southern Asia

In 2022, approx. X tons of gearboxes and speed changers were imported in Southern Asia; rising by X% against the year before. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, gearboxes and speed changers imports surged to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India represented the key importer of gearboxes and speed changers in Southern Asia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Bangladesh (X tons), making up an X% share of total imports. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gearboxes and speed changers imports into India stood at X%. At the same time, Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of Bangladesh (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (X p.p.) and India (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported gearboxes and speed changers in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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