Asia: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Asia

The Asian gear cutting machine market declined notably to $X in 2021, reducing by -57.7% against the previous year. Over the period under review, consumption saw a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Production in Asia

In value terms, gear cutting machine production reached $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 2% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Gear Cutting Machine Exports

Exports in Asia

Gear cutting machine exports skyrocketed to X units in 2021, growing by 77% on 2020. Over the period under review, exports, however, showed a mild reduction. The growth pace was the most rapid in 2016 when exports increased by 84% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gear cutting machine exports soared to $X in 2021. In general, exports, however, showed a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X units) represented the largest exporter of gear cutting, gear grinding or gear finishing machines, achieving 82% of total exports. It was distantly followed by China (X units), constituting a 12% share of total exports. India (X units) took a relatively small share of total exports.

Japan was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of +4.0% from 2012 to 2021. China (-8.1%) and India (-21.7%) illustrated a downward trend over the same period. Japan (+29 p.p.) significantly strengthened its position in terms of the total exports, while China and India saw its share reduced by -11.1% and -17.5% from 2012 to 2021, respectively.

In value terms, Japan ($X) remains the largest gear cutting machine supplier in Asia, comprising 71% of total exports. The second position in the ranking was taken by China ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to -8.0%. In the other countries, the average annual rates were as follows: China (-5.1% per year) and India (-6.3% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, which is down by -23.1% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 50%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+19.6%), while the other leaders experienced mixed trends in the export price figures.

Gear Cutting Machine Imports

Imports in Asia

In 2021, overseas purchases of gear cutting, gear grinding or gear finishing machines increased by 40% to X units for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 189% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, gear cutting machine imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2018 with an increase of 24% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X units), Taiwan (Chinese) (X units), Japan (X units) and Indonesia (X units) represented roughly 69% of total imports in 2021. Uzbekistan (X units) held the next position in the ranking, followed by Vietnam (X units). All these countries together took near 16% share of total imports. The following importers - the Philippines (X units) and India (X units) - each reached a 4.2% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uzbekistan (with a CAGR of +638.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 23% of total imports. These countries were followed by Taiwan (Chinese), Uzbekistan, Vietnam, Indonesia and the Philippines, which together accounted for a further 9.5%.

Uzbekistan, with a CAGR of +278.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, with a decrease of -12.2% against the previous year. Overall, the import price showed a noticeable decline. The pace of growth was the most pronounced in 2018 an increase of 280% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was India ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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