Asia-Pacific: Working Wire Machine Market 2024

Working Wire Machine Market Size in Asia-Pacific

In 2021, the Asia-Pacific working wire machine market decreased by -4.4% to $X, falling for the fifth consecutive year after three years of growth. Over the period under review, consumption showed a mild decrease. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Working Wire Machine Production in Asia-Pacific

In value terms, working wire machine production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Working Wire Machine Exports

Exports in Asia-Pacific

In 2021, the amount of machines for working wire exported in Asia-Pacific surged to X units, picking up by 70% against the year before. In general, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the key exporter of machines for working wire, generating 69% of total exports. Taiwan (Chinese) (X units) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by India (6.7%). Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the machines for working wire exports, with a CAGR of +15.4% from 2012 to 2021. At the same time, India (+13.2%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and India increased by +38 and +3.2 percentage points, respectively.

In value terms, China ($X) remains the largest working wire machine supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +11.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-3.0% per year) and Taiwan (Chinese) (-3.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, with a decrease of -21.9% against the previous year. In general, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2014 when the export price increased by 44% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 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 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 Japan (-2.3%), while the other leaders experienced a decline in the export price figures.

Working Wire Machine Imports

Imports in Asia-Pacific

In 2021, approx. X units of machines for working wire were imported in Asia-Pacific; with an increase of 68% on the previous year's figure. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports soared to $X in 2021. In general, imports, however, continue to indicate a mild curtailment. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X units), distantly followed by Nepal (X units), the Philippines (X units), Singapore (X units), Vietnam (X units), Malaysia (X units) and Sri Lanka (X units) represented the major importers of machines for working wire, together mixing up 76% of total imports. China (X units), Thailand (X units), South Korea (X units), Indonesia (X units), Australia (X units) and Bangladesh (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +49.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 47% of total imports. These countries were followed by Thailand, Vietnam, South Korea, Malaysia, Australia, the Philippines, Nepal, Singapore, Sri Lanka and Bangladesh, which together accounted for a further 42%.

Nepal, with a CAGR of +38.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, with a decrease of -18.5% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the import price increased by 46%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+16.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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