Asia-Pacific: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Asia-Pacific

The Asia-Pacific gear cutting machine market contracted sharply to $X in 2021, which is down by -59.1% against the previous year. Over the period under review, consumption continues to indicate a noticeable decrease. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Gear Cutting Machine Production in Asia-Pacific

In value terms, gear cutting machine production amounted to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 2% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Gear Cutting Machine Exports

Exports in Asia-Pacific

Gear cutting machine exports skyrocketed to X units in 2021, with an increase of 78% compared with 2020 figures. In general, exports, however, recorded a slight shrinkage. The growth pace was the most rapid in 2016 with an increase of 89%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gear cutting machine exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by 36%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan represented the largest exporter of gear cutting, gear grinding or gear finishing machines in Asia-Pacific, with the volume of exports finishing at X units, which was approx. 82% of total exports in 2021. It was distantly followed by China (X units), mixing up a 12% share of total exports. India (X units) followed a long way behind the leaders.

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. While the share of Japan (+29 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-11.1 p.p.) and India (-17.5 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest gear cutting machine supplier in Asia-Pacific, comprising 72% of total exports. The second position in the ranking was held by China ($X), with a 10% share of total exports.

In Japan, gear cutting machine exports plunged by an average annual rate of -8.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: China (-5.1% per year) and India (-6.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, with a decrease of -23.5% against the previous year. Over the period under review, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of 51% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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 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-Pacific

After four years of decline, overseas purchases of gear cutting, gear grinding or gear finishing machines increased by 30% to X units in 2021. In general, imports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2016 with an increase of 364% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports surged to $X in 2021. Over the period under review, imports, however, recorded a noticeable setback. The growth pace was the most rapid in 2018 when imports increased by 29%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), Taiwan (Chinese) (X units), Japan (X units) and Indonesia (X units) represented roughly 76% of total imports in 2021. It was distantly followed by Vietnam (X units), creating an 8.8% share of total imports. The following importers - the Philippines (X units) and India (X units) - each recorded a 4.7% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gear cutting machine importing markets in Asia-Pacific were India ($X), Japan ($X) and South Korea ($X), together accounting for 25% of total imports. Taiwan (Chinese), Vietnam, Indonesia and the Philippines lagged somewhat behind, together accounting for a further 7.7%.

The Philippines, with a CAGR of +2.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, shrinking by -5.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 321%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices failed to regain momentum.

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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