Australia: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Australia

The Australian machinery electrical parts market totaled $X in 2022, stabilizing at the previous year. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production in Australia

In value terms, machinery electrical parts production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 70%. Machinery electrical parts production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports from Australia

In 2022, machinery electrical parts exports from Australia skyrocketed to X tons, rising by 82% against the year before. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 5,557% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, machinery electrical parts exports fell significantly to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 97,400%. The exports peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for machinery electrical parts exports from Australia, with a 74% share of total exports. Moreover, machinery electrical parts exports to the United Arab Emirates exceeded the volume sent to the second major destination, New Zealand (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +10.3%.

In value terms, the United Arab Emirates ($X) and New Zealand ($X) constituted the largest markets for machinery electrical parts exported from Australia worldwide.

New Zealand, with a CAGR of +193.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, falling by -57.7% against the previous year. In general, the export price, however, enjoyed strong growth. The growth pace was the most rapid in 2013 when the average export price increased by 186% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Australia

Machinery electrical parts imports into Australia shrank to X tons in 2022, with a decrease of -7% compared with 2021. In general, imports showed a pronounced reduction. The pace of growth appeared the most rapid in 2019 with an increase of 58%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, machinery electrical parts imports fell to $X in 2022. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 66% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest machinery electrical parts supplier to Australia, with a 43% share of total imports. Moreover, machinery electrical parts imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.8% per year) and Italy (+14.3% per year).

In value terms, China ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Australia, comprising 38% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.6% per year) and Japan (+4.3% per year).

Import Prices by Country

In 2022, the average machinery electrical parts import price amounted to $X per ton, with a decrease of -6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2020 when the average import price increased by 17%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :