United Kingdom: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in the UK

The UK machine-tool for working wood market soared to $X in 2021, rising by 41% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Machine-tool for working wood consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Machine-Tools For Working Wood in the UK

In value terms, machine-tool for working wood production fell to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Machine-Tools For Working Wood

Exports from the UK

In 2021, overseas shipments of machine-tools for working wood increased by 2.4% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 52% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, machine-tool for working wood exports expanded to $X in 2021. In general, exports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 26%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

North Macedonia (X tons) was the main destination for machine-tool for working wood exports from the UK, with a 27% share of total exports. Moreover, machine-tool for working wood exports to North Macedonia exceeded the volume sent to the second major destination, Ireland (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to North Macedonia stood at +102.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-4.9% per year) and the Netherlands (+29.7% per year).

In value terms, Ireland ($X) remains the key foreign market for machine-tools for working wood exports from the UK, comprising 22% of total exports. The second position in the ranking was held by North Macedonia ($X), with an 11% share of total exports. It was followed by the United States, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Ireland stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+103.3% per year) and the United States (-4.2% per year).

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, recorded a slight setback. The growth pace was the most rapid in 2015 an increase of 15%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the 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 Nigeria ($X per ton), while the average price for exports to the Netherlands ($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 Ireland (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into the UK

In 2021, the amount of machine-tools for working wood imported into the UK skyrocketed to X tons, picking up by 35% against the year before. In general, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working wood imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest machine-tool for working wood supplier to the UK, accounting for a 44% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and Italy (+0.2% per year).

In value terms, the largest machine-tool for working wood suppliers to the UK were Germany ($X), China ($X) and Italy ($X), together comprising 75% of total imports. These countries were followed by Austria, Taiwan (Chinese), the Netherlands, Belgium, Hungary and Ireland, which together accounted for a further 12%.

Hungary, with a CAGR of +37.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machine-tool for working wood import price stood at $X per ton in 2021, falling by -5.4% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working wood import price increased by +21.3% against 2017 indices. The pace of growth appeared the most rapid in 2013 an increase of 30% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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