Asia-Pacific: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Asia-Pacific

In 2021, the Asia-Pacific balancing mechanical parts machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption 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-Pacific

In value terms, balancing mechanical parts machine production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 22%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports in Asia-Pacific

In 2021, the amount of machines for balancing mechanical parts exported in Asia-Pacific expanded sharply to X units, growing by 9.8% compared with the previous year. The total export volume increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 39%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the key exporter of machines for balancing mechanical parts in Asia-Pacific, with the volume of exports reaching X units, which was near 40% of total exports in 2021. Japan (X units) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by India (12%) and Thailand (12%). The following exporters - Singapore (X units), Malaysia (X units) and South Korea (X units) - together made up 9.1% 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) appeared to be the countries with the highest levels of exports in 2021, together accounting for 84% of total exports.

In terms of the main exporting countries, Thailand, with a CAGR of +11.1%, saw the highest rates of growth with regard to the value of exports, 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, picking up by 28% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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-Pacific

In 2021, overseas purchases of machines for balancing mechanical parts were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 18%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports totaled $X in 2021. In general, imports, however, showed a deep setback. The growth pace was the most rapid in 2018 when imports increased by 20% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X units) and Vietnam (X units) represented the main importers of machines for balancing mechanical parts in Asia-Pacific, together finishing at approx. 43% of total imports. Indonesia (X units) ranks next in terms of the total imports with a 12% share, followed by Japan (12%), Singapore (7.5%), Taiwan (Chinese) (5.5%) and South Korea (5.3%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +11.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, together comprising 27% of total imports. Taiwan (Chinese), Japan, Indonesia and Singapore lagged somewhat behind, together accounting for a further 15%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +3.2%, saw 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-Pacific amounted to $X per unit, shrinking by -5% against the previous year. In general, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 36% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: 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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