Asia: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Asia

After two years of growth, the Asian machine-tool for removing material market decreased by -5.6% to $X in 2021. Over the period under review, consumption, however, saw a perceptible slump. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Production of Machine-Tools For Working Any Material By Removal Of Material in Asia

In value terms, machine-tool for removing material production expanded rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 20% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports in Asia

For the sixth year in a row, Asia recorded growth in overseas shipments of machine-tools for working any material by removal of material, which increased by 53% to X units in 2021. Over the period under review, exports saw prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for removing material exports skyrocketed to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +43.9% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporter of machine-tools for working any material by removal of material in Asia, with the volume of exports amounting to X units, which was approx. 79% of total exports in 2021. It was distantly followed by Singapore (X units), making up a 10% share of total exports. The following exporters - Taiwan (Chinese) (X units) and Japan (X units) - together made up 6.5% of total exports.

China was also the fastest-growing in terms of the machine-tools for working any material by removal of material exports, with a CAGR of +17.9% from 2012 to 2021. At the same time, Japan (+12.7%), Singapore (+7.7%) and Taiwan (Chinese) (+1.4%) displayed positive paces of growth. While the share of China (+20 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-7.1 p.p.) and Taiwan (Chinese) (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest machine-tool for removing material supplying countries in Asia were China ($X), Japan ($X) and Singapore ($X), with a combined 77% share of total exports.

Among the main exporting countries, China, with a CAGR of +15.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, shrinking by -7.8% against the previous year. Overall, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($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 (-2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports in Asia

In 2021, imports of machine-tools for working any material by removal of material in Asia surged to X units, jumping by 54% on the previous year's figure. In general, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by 154% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, machine-tool for removing material imports surged to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the major importer of machine-tools for working any material by removal of material in Asia, with the volume of imports resulting at X units, which was near 47% of total imports in 2021. The Philippines (X units) ranks second in terms of the total imports with an 8.7% share, followed by Pakistan (5.4%) and Singapore (4.8%). Taiwan (Chinese) (X units), the United Arab Emirates (X units), China (X units), Turkey (X units), Thailand (X units), Japan (X units), Qatar (X units) and Vietnam (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +47.3% from 2012 to 2021. At the same time, the Philippines (+55.6%), Qatar (+52.2%), Pakistan (+43.7%), Taiwan (Chinese) (+21.8%), Turkey (+13.8%), the United Arab Emirates (+10.6%), Japan (+8.1%) and Vietnam (+5.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +55.6% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Thailand (-5.2%) and Singapore (-8.0%) illustrated a downward trend over the same period. While the share of India (+42 p.p.), the Philippines (+8.2 p.p.), Pakistan (+4.8 p.p.), Taiwan (Chinese) (+2.1 p.p.) and Qatar (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-1.6 p.p.), China (-7.6 p.p.), Thailand (-12.1 p.p.) and Singapore (-25.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machine-tools for working any material by removal of material in Asia, comprising 34% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by India, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +2.2%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+9.5% per year) and India (+13.5% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, shrinking by -11.8% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 135%. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a 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 China ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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