Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Asia

In 2021, the Asian balancing mechanical parts machine market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in Asia

In value terms, balancing mechanical parts machine production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 20% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Asia

Balancing mechanical parts machine exports expanded remarkably to X units in 2021, growing by 8.6% compared with 2020 figures. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X units) was the largest exporter of machines for balancing mechanical parts, mixing up 39% of total exports. Japan (X units) ranks second in terms of the total exports with a 21% share, followed by India (12%) and Thailand (12%). The following exporters - Singapore (X units), Malaysia (X units) and South Korea (X units) - together made up 8.8% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +18.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, with a combined 80% share of total exports.

Thailand, with a CAGR of +11.1%, saw the highest growth rate of the value of exports, among 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

The export price in Asia stood at $X per unit in 2021, jumping by 32% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+16.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in Asia

In 2021, after three years of decline, there was significant growth in purchases abroad of machines for balancing mechanical parts, when their volume increased by 20% to X units. In general, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Overall, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by 19%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units) and Vietnam (X units) were the key importers of machines for balancing mechanical parts in 2021, recording approx. 21% and 17% of total imports, respectively. Indonesia (X units) ranks next in terms of the total imports with a 10% share, followed by Japan (9.9%), Turkey (7.6%), Singapore (6.5%), Taiwan (Chinese) (4.7%) and South Korea (4.5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +11.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and Turkey ($X) were the countries with the highest levels of imports in 2021, with a combined 24% share of total imports. Vietnam, Taiwan (Chinese), Japan, Indonesia and Singapore lagged somewhat behind, together comprising a further 16%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +3.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, reducing by -3% against the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 34%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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