Argentina: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Argentina

The Argentinian balancing mechanical parts machine market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, recorded a slight shrinkage. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Argentina

In value terms, balancing mechanical parts machine production totaled $X in 2021 estimated in export price. Overall, production, however, saw a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 53% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports from Argentina

In 2021, overseas shipments of machines for balancing mechanical parts were finally on the rise to reach X units after two years of decline. In general, exports, however, continue to indicate a slight downturn. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports skyrocketed to $X in 2021. Over the period under review, exports showed a moderate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X units) was the main destination for balancing mechanical parts machine exports from Argentina, with a 66% share of total exports. Moreover, balancing mechanical parts machine exports to Spain exceeded the volume sent to the second major destination, Bolivia (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+55.1% per year) and the United States (-24.9% per year).

In value terms, Bolivia ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Argentina, comprising 45% of total exports. The second position in the ranking was held by Chile ($X), with a 20% share of total exports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia stood at +59.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+3.5% per year) and the United States (+6.0% per year).

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, jumping by 79% against the previous year. Over the period under review, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 134% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Chile ($X per unit), while the average price for exports to Spain ($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 (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Argentina

In 2021, the amount of machines for balancing mechanical parts imported into Argentina surged to X units, rising by 15% on 2020. Overall, imports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2014 when imports increased by 89%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 160%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of balancing mechanical parts machine to Argentina, with a 72% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. The third position in this ranking was held by Germany (X units), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.5% per year) and Germany (-1.1% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest balancing mechanical parts machine suppliers to Argentina, with a combined 79% share of total imports.

Among the main suppliers, the United States, with a CAGR of +6.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, growing by 28% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 69%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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