Asia-Pacific: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Asia-Pacific

The Asia-Pacific wood bending machine market soared to $X in 2021, growing by 44% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood Bending Machine Production in Asia-Pacific

In value terms, wood bending machine production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production posted a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by 92%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wood Bending Machine Exports

Exports in Asia-Pacific

In 2021, overseas shipments of bending or assembling machines increased by 39% to X units, rising for the fifth year in a row after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 165% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, wood bending machine exports expanded notably to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -1.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 32%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, resulting at X units, which was near 80% of total exports in 2021. Taiwan (Chinese) (X units) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (6.8%). South Korea (X units) took a little share of total exports.

Exports from China increased at an average annual rate of +38.2% from 2012 to 2021. At the same time, Singapore (+39.2%), Taiwan (Chinese) (+21.6%) and South Korea (+12.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +39.2% from 2012-2021. From 2012 to 2021, the share of China and Singapore increased by +34 and +3.1 percentage points, respectively.

In value terms, China ($X) remains the largest wood bending machine supplier in Asia-Pacific, comprising 76% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.2% share of total exports. It was followed by Taiwan (Chinese), with a 6.9% share.

In China, wood bending machine exports expanded at an average annual rate of +23.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.0% per year) and Taiwan (Chinese) (-4.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, waning by -18.4% against the previous year. In general, the export price faced a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 82%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Singapore ($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 (-3.0%), while the other leaders experienced a decline in the export price figures.

Wood Bending Machine Imports

Imports in Asia-Pacific

In 2021, wood bending machine imports in Asia-Pacific soared to X units, picking up by 31% on the previous year. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 71% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, wood bending machine imports surged to $X in 2021. Overall, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 when imports increased by 34%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X units) represented the key importer of bending or assembling machines, constituting 50% of total imports. It was distantly followed by Vietnam (X units) and the Philippines (X units), together comprising a 24% share of total imports. China (X units), Malaysia (X units), Australia (X units), Singapore (X units), Pakistan (X units) and Indonesia (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood bending machine imports into India stood at +36.7%. At the same time, Pakistan (+42.8%), the Philippines (+41.8%) and Vietnam (+40.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +42.8% from 2012-2021. By contrast, Indonesia (-1.7%), Australia (-7.0%), Singapore (-7.6%), Malaysia (-10.9%) and China (-13.2%) illustrated a downward trend over the same period. India (+45 p.p.), Vietnam (+16 p.p.), the Philippines (+5.8 p.p.) and Pakistan (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Singapore, Australia, Malaysia and China saw its share reduced by -1.7%, -7.2%, -8%, -14.9% and -23.1% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported bending or assembling machines in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports. It was followed by China, with a 15% share.

In Vietnam, wood bending machine imports expanded at an average annual rate of +35.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+4.1% per year) and China (-12.5% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, declining by -12% against the previous year. Over the period under review, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the import price increased by 70% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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