Australia: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Australia

The Australian gear cutting machine market soared to $X in 2021, growing by 31% against the previous year. The market value increased at an average annual rate of +3.9% over the period 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

In value terms, gear cutting machine production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 2.5% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Gear Cutting Machine Exports

Exports from Australia

Gear cutting machine exports from Australia declined significantly to X units in 2021, which is down by -64% against the previous year's figure. Overall, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 602%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, gear cutting machine exports fell significantly to $X in 2021. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 512%. 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

Chile (X units) was the main destination for gear cutting machine exports from Australia, accounting for a 67% share of total exports. Moreover, gear cutting machine exports to Chile exceeded the volume sent to the second major destination, Papua New Guinea (X units), fourfold. The third position in this ranking was taken by Denmark (X units), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Chile totaled +87.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+26.0% per year) and Denmark (0.0% per year).

In value terms, Denmark ($X), Papua New Guinea ($X) and the UK ($X) were the largest markets for gear cutting machine exported from Australia worldwide, together comprising 77% of total exports.

Papua New Guinea, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, declining by -42% against the previous year. Over the period under review, the export price recorded a mild decrease. The pace of growth was the most pronounced in 2014 an increase of 301% against the previous year. Over the period under review, the average export prices attained the peak figure 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 for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+203.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Australia

Gear cutting machine imports into Australia surged to X units in 2021, rising by 1,040% compared with 2020. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, gear cutting machine imports soared to $X in 2021. Overall, imports posted prominent growth. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X units) constituted the largest supplier of gear cutting machine to Australia, accounting for a 67% share of total imports. Moreover, gear cutting machine imports from India exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. China (X units) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +186.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+65.7% per year) and China (+35.6% per year).

In value terms, the largest gear cutting machine suppliers to Australia were the United States ($X), India ($X) and China ($X), with a combined 91% share of total imports. Italy lagged somewhat behind, comprising a further 4.9%.

In terms of the main suppliers, Italy, with a CAGR of +283.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, dropping by -12.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 247% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+79.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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