Argentina: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Argentina

The Argentinian gear cutting machine market declined dramatically to $X in 2021, waning by -35.5% against the previous year. Over the period under review, consumption saw a deep contraction. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Production in Argentina

In value terms, gear cutting machine production totaled less than $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern.

Gear Cutting Machine Exports

Exports from Argentina

In 2021, after four years of growth, there was significant decline in shipments abroad of gear cutting, gear grinding or gear finishing machines, when their volume decreased by -21.1% to X units. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 272% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then dropped notably in the following year.

In value terms, gear cutting machine exports declined markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 313% against the previous year. The exports peaked at $X in 2020, and then dropped remarkably in the following year.

Exports by Country

Chile (X units) was the main destination for gear cutting machine exports from Argentina, accounting for a 82% share of total exports. Moreover, gear cutting machine exports to Chile exceeded the volume sent to the second major destination, the United States (X units), fivefold. India (X units) ranked third in terms of total exports with a 1% share.

From 2012 to 2021, the average annual growth rate of volume to Chile totaled +90.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.9% per year) and India (+8.0% per year).

In value terms, Chile ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Argentina, comprising 52% of total exports. The second position in the ranking was held by Germany ($X), with a 24% share of total exports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile stood at +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+19.7% per year) and the United States (+15.9% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, declining by -46.6% against the previous year. Overall, the export price continues to indicate a dramatic contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 88% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Chile ($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 Germany (+28.5%), while the prices for the other major destinations experienced a decline.

Gear Cutting Machine Imports

Imports into Argentina

Gear cutting machine imports into Argentina reduced rapidly to X units in 2021, dropping by -98.2% on 2020. Over the period under review, imports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 143% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, gear cutting machine imports plummeted to $X in 2021. In general, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2017 with an increase of 267% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), the United States (X units) and Germany (X units) were the main suppliers of gear cutting machine imports to Argentina, together accounting for 83% of total imports. Moreover, gear cutting machine imports in Italy exceeded the figures recorded by the second-largest supplier, the United States, twofold.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -16.4%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Argentina, comprising 43% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 21% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-30.8% per year) and Germany (-50.2% per year).

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, increasing by 58% against the previous year. Overall, the import price posted a measured increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+188.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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