Australia and Oceania: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Australia and Oceania

The balancing mechanical parts machine market in Australia and Oceania shrank notably to $X in 2021, dropping by -15.9% against the previous year. Overall, consumption saw a slight descent. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Australia and Oceania

In value terms, balancing mechanical parts machine production surged to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild reduction. The growth pace was the most rapid in 2018 with an increase of 48%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Australia and Oceania

In 2021, the amount of machines for balancing mechanical parts exported in Australia and Oceania surged to X units, growing by 163% against the previous year. Overall, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 339% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports expanded sharply to $X in 2021. In general, exports posted moderate growth. The most prominent rate of growth was recorded in 2013 with an increase of 108%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia prevails in exports structure, resulting at X units, which was near 94% of total exports in 2021. It was distantly followed by New Zealand (X units), mixing up a 4.9% share of total exports.

Australia was also the fastest-growing in terms of the machines for balancing mechanical parts exports, with a CAGR of +16.9% from 2012 to 2021. New Zealand (-16.5%) illustrated a downward trend over the same period. While the share of Australia (+47 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of New Zealand (-45.9 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest balancing mechanical parts machine supplier in Australia and Oceania, comprising 82% of total exports. The second position in the ranking was held by New Zealand ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia stood at +3.2%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2021, with a decrease of -58.3% against the previous year. In general, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 an increase of 87% 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, the country with the highest price was New Zealand ($X per unit), while Australia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+21.7%).

Imports of Machines For Balancing Mechanical Parts

Imports in Australia and Oceania

In 2021, purchases abroad of machines for balancing mechanical parts increased by 14% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2017 when imports increased by 20% against the previous year. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X units) and New Zealand (X units) dominates imports structure, together creating 97% of total imports. New Caledonia (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +4.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Australia ($X) constitutes the largest market for imported machines for balancing mechanical parts in Australia and Oceania, comprising 81% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Australia stood at +4.9%. In the other countries, the average annual rates were as follows: New Zealand (+2.2% per year) and New Caledonia (-5.3% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per unit, surging by 30% against the previous year. Import price indicated resilient growth 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, balancing mechanical parts machine import price decreased by -6.8% against 2019 indices. The pace of growth was the most pronounced in 2019 when the import price increased by 58%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per unit), while New Caledonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Caledonia (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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