May 24, 2025
IndexBox has just published a new report: Australia – Cranks And Crankshafts – Market Analysis, Forecast, Size, Trends And Insights.
The demand for transmission shafts and cranks in Australia is predicted to rise, leading to an expected increase in market performance over the next decade. By 2035, the market volume is expected to grow to 6.7K tons with a value of $141M. The market is forecasted to experience a slight growth with an anticipated CAGR of +0.2% in volume and +1.4% in value from 2024 to 2035.
Market Forecast
Driven by rising demand for transmission shafts and cranks in Australia, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 6.7K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market value to $141M (in nominal wholesale prices) by the end of 2035.
ConsumptionAustralia’s Consumption of Transmission Shafts and Cranks
In 2024, the amount of transmission shafts and cranks consumed in Australia surged to 6.6K tons, jumping by 16% on the year before. Over the period under review, consumption, however, recorded a slight decline. Transmission shafts and cranks consumption peaked at 8K tons in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.
The revenue of the transmission shafts and cranks market in Australia soared to $121M in 2024, increasing by 20% 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). The market value increased at an average annual rate of +1.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2024 and is likely to see steady growth in the immediate term.
ImportsAustralia’s Imports of Transmission Shafts and Cranks
In 2024, approx. 7K tons of transmission shafts and cranks were imported into Australia; increasing by 12% against the previous year. Over the period under review, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2022 with an increase of 21% against the previous year. Over the period under review, imports hit record highs at 9.2K tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.
In value terms, transmission shafts and cranks imports surged to $136M in 2024. The total import value increased at an average annual rate of +1.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports By Country
In 2024, the United States (2.6K tons) constituted the largest supplier of transmission shafts and cranks to Australia, accounting for a 37% share of total imports. Moreover, transmission shafts and cranks imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (1K tons), twofold. The third position in this ranking was held by China (901 tons), with a 13% share.
From 2013 to 2024, the average annual growth rate of volume from the United States amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.4% per year) and China (-14.7% per year).
In value terms, the United States ($51M) constituted the largest supplier of transmission shafts and cranks to Australia, comprising 37% of total imports. The second position in the ranking was taken by China ($20M), with a 15% share of total imports. It was followed by Germany, with a 14% share.
From 2013 to 2024, the average annual rate of growth in terms of value from the United States totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Germany (+6.0% per year).
Import Prices By Country
In 2024, the average transmission shafts and cranks import price amounted to $19,455 per ton, rising by 3.9% against the previous year. Over the period under review, import price indicated temperate growth from 2013 to 2024: its price increased at an average annual rate of +4.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, transmission shafts and cranks import price increased by +63.0% against 2018 indices. The growth pace was the most rapid in 2023 an increase of 24% against the previous year. The import price peaked in 2024 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Canada ($23,584 per ton), while the price for Poland ($13,917 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsAustralia’s Exports of Transmission Shafts and Cranks
In 2024, the amount of transmission shafts and cranks exported from Australia contracted sharply to 398 tons, waning by -28% against the previous year’s figure. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. Over the period under review, the exports attained the peak figure at 1.2K tons in 2013; however, from 2014 to 2024, the exports remained at a lower figure.
In value terms, transmission shafts and cranks exports shrank to $16M in 2024. Over the period under review, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2022 with an increase of 16%. Over the period under review, the exports hit record highs at $26M in 2013; however, from 2014 to 2024, the exports remained at a lower figure.
Exports By Country
South Africa (70 tons), Papua New Guinea (65 tons) and Singapore (48 tons) were the main destinations of transmission shafts and cranks exports from Australia, with a combined 46% share of total exports. The United States, New Zealand, the Philippines, the Netherlands, France, Indonesia, Peru, Chile, Belgium and China lagged somewhat behind, together comprising a further 42%.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +20.5%), while the other leaders experienced more modest paces of growth.
In value terms, Papua New Guinea ($3.7M), the United States ($3.7M) and New Zealand ($1.6M) constituted the largest markets for transmission shafts and cranks exported from Australia worldwide, together accounting for 55% of total exports. South Africa, Indonesia, Singapore, Belgium, Chile, France, China, the Philippines, the Netherlands and Peru lagged somewhat behind, together accounting for a further 31%.
In terms of the main countries of destination, the Netherlands, with a CAGR of +25.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
In 2024, the average transmission shafts and cranks export price amounted to $40,945 per ton, jumping by 20% against the previous year. Overall, the export price enjoyed prominent growth. The growth pace was the most rapid in 2023 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices hit record highs in 2024 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was the United States ($109,463 per ton), while the average price for exports to South Africa ($14,619 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.