Asia-Pacific: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Asia-Pacific

In 2021, the Asia-Pacific machine-tool for working metal market decreased by -20.3% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption continues to indicate a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal in Asia-Pacific

In value terms, machine-tool for working metal production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 21% against the previous year. Over the period under review, production reached the maximum 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-Pacific

In 2021, exports of machine tools for working metal in Asia-Pacific soared to X units, rising by 39% on the year before. In general, exports, however, recorded a slight decline. Over the period under review, the exports reached 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. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the largest exporter of machine tools for working metal in Asia-Pacific, with the volume of exports recording X units, which was approx. 67% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units) and South Korea (X units), together achieving a 17% share of total exports. Hong Kong SAR (X units), Australia (X units), Japan (X units) and Malaysia (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +12.1% from 2012 to 2021. At the same time, Hong Kong SAR (+14.7%), Australia (+10.2%) and Malaysia (+7.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.7% 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. From 2012 to 2021, the share of China, Hong Kong SAR and Australia increased by +46, +2.6 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest machine-tool for working metal supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined 75% share of total exports.

China, with a CAGR of +7.7%, 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-Pacific stood at $X per unit in 2021, which is down by -3.2% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 60%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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-Pacific

In 2021, the amount of machine tools for working metal imported in Asia-Pacific skyrocketed to X units, rising by 18% against the previous year's figure. Over the period under review, imports, however, continue to indicate a drastic downturn. Over the period under review, imports hit record highs 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, saw a abrupt decline. 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), Australia (X units), India (X units), Malaysia (X units), Japan (X units) and Singapore (X units) were the major importers of machine tools for working metal, together committing 83% 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 Singapore (with a CAGR of +13.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machine tools for working metal in Asia-Pacific, comprising 38% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by Thailand, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -6.4%. In the other countries, the average annual rates were as follows: India (-4.3% per year) and Thailand (-10.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, growing by 1.5% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.3% 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 -10.4% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 33% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Thailand ($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 (+16.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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