Speed Changer Price in Belgium - 2023

Contents:

1. Speed Changer Price in Belgium (FOB) - 2023
2. Speed Changer Price in Belgium (CIF) - 2023
3. Speed Changer Exports in Belgium
4. Speed Changer Imports in Belgium

Speed Changer Price in Belgium (FOB) - 2023

The average speed changer export price stood at $16,637 per ton in May 2023, surging by 11% against the previous month. Over the period from May 2022 to May 2023, it increased at an average monthly rate of +1.3%. The growth pace was the most rapid in November 2022 an increase of 27% month-to-month. Over the period under review, the average export prices hit record highs at $17,940 per ton in December 2022; however, from January 2023 to May 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In May 2023, the country with the highest price was France ($42,618 per ton), while the average price for exports to Germany ($8,920 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Speed Changer Price in Belgium (CIF) - 2023

The average speed changer import price stood at $9,276 per ton in May 2023, approximately reflecting the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 42% m-o-m. The import price peaked at $12,949 per ton in July 2022; however, from August 2022 to May 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($24,184 per ton), while the price for China ($4,693 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Speed Changer Exports in Belgium

In 2022, after three years of growth, there was significant decline in shipments abroad of speed changers, industrial high-speed drives and gear, when their volume decreased by -25.5% to 55K tons. In general, exports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 when exports increased by 11%. As a result, the exports attained the peak of 74K tons, and then reduced markedly in the following year.

In value terms, speed changer exports reduced to $911M in 2022. The total export value increased at an average annual rate of +5.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. As a result, the exports reached the peak of $1B, and then contracted in the following year.

Top Export Markets for Speed Changer from Belgium in 2022:

1. Germany (17.7K tons)
2. United States (11.2K tons)
3. Denmark (5.3K tons)
4. China (3.9K tons)
5. France (3.0K tons)
6. Brazil (2.2K tons)
7. Netherlands (1.8K tons)
8. United Kingdom (1.1K tons)

Speed Changer Imports in Belgium

In 2022, purchases abroad of speed changers, industrial high-speed drives and gear decreased by -11.4% to 43K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +13.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.6% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 34%.

In value terms, speed changer imports surged to $486M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Speed Changer to Belgium in 2022:

1. Germany (13.5K tons)
2. China (8.4K tons)
3. Italy (5.9K tons)
4. India (3.3K tons)
5. United States (2.1K tons)
6. Netherlands (1.9K tons)
7. Turkey (1.4K tons)
8. Sweden (1.4K tons)
9. France (1.3K tons)
10. Denmark (1.1K tons)
11. Romania (0.5K tons)

Source: IndexBox Market Intelligence Platform