Asia: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Asia

In 2021, after two years of growth, there was significant decline in the Asian machine-tool for working metal market, when its value decreased by -18.6% to $X. Overall, consumption continues to indicate a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Machine Tools For Working Metal in Asia

In value terms, machine-tool for working metal production reduced to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 17% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports in Asia

In 2021, approx. X units of machine tools for working metal were exported in Asia; increasing by 40% on 2020. Over the period under review, exports, however, recorded a mild descent. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports soared to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the largest exporter of machine tools for working metal, generating 65% of total exports. Taiwan (Chinese) (X units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (7%) and South Korea (6.2%). Hong Kong SAR (X units), Japan (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working metal exports from China stood at +12.1%. At the same time, Turkey (+20.0%), Hong Kong SAR (+14.7%) and Malaysia (+7.0%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.0% from 2012-2021. By contrast, Taiwan (Chinese) (-7.5%), South Korea (-12.7%) and Japan (-25.7%) illustrated a downward trend over the same period. China (+44 p.p.), Turkey (+5.8 p.p.) and Hong Kong SAR (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by -7.9%, -12.3% and -27% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together comprising 66% of total exports. Turkey, Taiwan (Chinese), Malaysia and Hong Kong SAR lagged somewhat behind, together accounting for a further 30%.

Turkey, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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, leveling off at the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 metal export price decreased by -22.5% against 2018 indices. The growth pace was the most rapid in 2017 when the export price increased by 59%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+23.0%), while the other leaders experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports in Asia

In 2021, the amount of machine tools for working metal imported in Asia surged to X units, jumping by 19% compared with the year before. In general, imports, however, faced a deep reduction. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt descent. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X units), distantly followed by China (X units), India (X units), the United Arab Emirates (X units), Malaysia (X units), Japan (X units) and Singapore (X units) were the major importers of machine tools for working metal, together mixing up 73% of total imports. The following importers - Indonesia (X units), South Korea (X units), Vietnam (X units), Israel (X units) and Turkey (X units) - together made up 14% of total imports.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machine tools for working metal in Asia, comprising 32% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by Vietnam, with an 8.5% share.

In China, machine-tool for working metal imports contracted by an average annual rate of -6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (-4.3% per year) and Vietnam (+0.8% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, flattening at the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.9% 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 metal import price decreased by -5.3% against 2018 indices. The growth pace was the most rapid in 2017 when the import price increased by 40%. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($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 (+19.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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