United Kingdom: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in the UK

The UK machine-tool for working metal market soared to $X in 2021, with an increase of 206% against the previous year. In general, consumption enjoyed pronounced growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Machine Tools For Working Metal in the UK

In value terms, machine-tool for working metal production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports from the UK

Machine-tool for working metal exports from the UK declined rapidly to X units in 2021, waning by -37.6% compared with the previous year. Overall, exports recorded a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 58%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports soared to $X in 2021. Over the period under review, total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.2% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Israel (X units), Curacao (X units) and France (X units) were the main destinations of machine-tool for working metal exports from the UK, with a combined 42% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Curacao (with a CAGR of +176.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for machine tools for working metal exports from the UK, comprising 39% of total exports. The second position in the ranking was taken by Russia ($X), with a 3% share of total exports. It was followed by Germany, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+7.1% per year) and Germany (+0.8% per year).

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, growing by 154% against the previous year. Over the period under review, the export price showed significant growth. The pace of growth appeared the most rapid in 2017 an increase of 342%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Curacao ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+42.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine Tools For Working Metal

Imports into the UK

In 2021, imports of machine tools for working metal into the UK soared to X units, jumping by 151% compared with 2020. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a perceptible curtailment. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Turkey (X units) were the main suppliers of machine-tool for working metal imports to the UK, together comprising 92% of total imports. These countries were followed by the United States, Hong Kong SAR and Germany, which together accounted for a further 5.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +49.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machine tools for working metal to the UK, comprising 26% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Turkey, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.1% per year) and Turkey (+10.1% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, with a decrease of -40% against the previous year. Over the period under review, the import price continues to indicate a precipitous decrease. The growth pace was the most rapid in 2016 an increase of 69% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-15.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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