Australia and Oceania: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Australia and Oceania

The gear cutting machine market in Australia and Oceania surged to $X in 2021, with an increase of 35% against the previous year. The market value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Gear Cutting Machine Production in Australia and Oceania

In value terms, gear cutting machine production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 2.7% against the previous year. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Gear Cutting Machine Exports

Exports in Australia and Oceania

In 2021, approx. X units of gear cutting, gear grinding or gear finishing machines were exported in Australia and Oceania; which is down by -63.5% on 2020. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 977% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, gear cutting machine exports dropped rapidly to $X in 2021. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 344%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia prevails in exports structure, accounting for X units, which was approx. 98% of total exports in 2021. New Zealand (X units) held a relatively small share of total exports.

Australia was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of -12.6% from 2012 to 2021. New Zealand (-32.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of New Zealand increased by +2.2 percentage points.

In value terms, Australia ($X) remains the largest gear cutting machine supplier in Australia and Oceania, comprising 100% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 0.4% share of total exports.

In Australia, gear cutting machine exports declined by an average annual rate of -13.5% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2021, which is down by -41.9% against the previous year. Overall, the export price continues to indicate a slight decline. The growth pace was the most rapid in 2017 an increase of 372% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 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 Australia ($X per unit), while New Zealand stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-1.2%).

Gear Cutting Machine Imports

Imports in Australia and Oceania

In 2021, purchases abroad of gear cutting, gear grinding or gear finishing machines increased by 158% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2019 with an increase of 207%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, gear cutting machine imports skyrocketed to $X in 2021. In general, imports saw strong growth. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Australia (X units) and Solomon Islands (X units) dominates imports structure, together comprising 87% of total imports. It was distantly followed by New Zealand (X units), creating a 9.5% share of total imports. Tonga (X units) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Solomon Islands (with a CAGR of +45.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in Australia and Oceania, comprising 80% of total imports. The second position in the ranking was held by New Zealand ($X), with a 16% share of total imports. It was followed by Solomon Islands, with a 2.4% share.

In Australia, gear cutting machine imports increased at an average annual rate of +15.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: New Zealand (+20.1% per year) and Solomon Islands (+18.5% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per unit, increasing by 184% against the previous year. In general, the import price showed a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 13,321% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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 New Zealand ($X per unit), while Solomon Islands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tonga (+3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :