Australia and Oceania: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Australia and Oceania

The grinding and sharpening machine market in Australia and Oceania surged to $X in 2022, jumping by 22% against the previous year. Overall, consumption showed a significant increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in Australia and Oceania

In value terms, grinding and sharpening machine production expanded rapidly to $X in 2022 estimated in export price. In general, production recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,055%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Australia and Oceania

In 2022, grinding and sharpening machine exports in Australia and Oceania contracted modestly to X units, falling by -1.7% on the previous year's figure. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 863% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, grinding and sharpening machine exports surged to $X in 2022. In general, exports, however, continue to indicate a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Australia (X units) was the key exporter of grinding and sharpening metal finishing machines in Australia and Oceania, committing 98% of total export.

Australia was also the fastest-growing in terms of the grinding and sharpening metal finishing machines exports, with a CAGR of +1.5% from 2012 to 2022. From 2012 to 2022, the share of Australia increased by +7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest grinding and sharpening machine supplier in Australia and Oceania.

In Australia, grinding and sharpening machine exports expanded at an average annual rate of +6.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, growing by 166% against the previous year. In general, the export price posted resilient growth. The growth pace was the most rapid in 2016 an increase of 589% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +4.5% per year.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Australia and Oceania

In 2022, overseas purchases of grinding and sharpening metal finishing machines increased by 14% to X units, rising for the sixth year in a row after three years of decline. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 34% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, grinding and sharpening machine imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Australia was the major importing country with an import of about X units, which accounted for 78% of total imports. It was distantly followed by New Zealand (X units) and Fiji (X units), together mixing up a 20% share of total imports.

Imports into Australia increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Fiji (+47.9%) and New Zealand (+7.1%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +47.9% from 2012-2022. While the share of Fiji (+5.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in Australia and Oceania, comprising 70% of total imports. The second position in the ranking was held by New Zealand ($X), with a 28% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to -2.9%. In the other countries, the average annual rates were as follows: New Zealand (+9.4% per year) and Fiji (+20.6% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2022, growing by 22% against the previous year. In general, the import price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the import price increased by 27%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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