Australia: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Australia

In 2021, the Australian machine-tool for working metal market decreased by -8.5% to $X, falling for the third consecutive year after three years of growth. Overall, consumption continues to indicate a noticeable downturn. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Machine Tools For Working Metal in Australia

In value terms, machine-tool for working metal production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 523% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Machine Tools For Working Metal

Exports from Australia

In 2021, the amount of machine tools for working metal exported from Australia soared to X units, growing by 117% against 2020 figures. Over the period under review, exports showed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 126% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 187% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand (X units) was the main destination for machine-tool for working metal exports from Australia, accounting for a 58% share of total exports. Moreover, machine-tool for working metal exports to New Zealand exceeded the volume sent to the second major destination, China (X units), sixfold. The third position in this ranking was taken by Greece (X units), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+40.1% per year) and Greece (0.0% per year).

In value terms, the largest markets for machine-tool for working metal exported from Australia were the United States ($X), New Zealand ($X) and Greece ($X), with a combined 60% share of total exports. Mexico, China, Malaysia, Papua New Guinea, Vietnam and India lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Mexico, with a CAGR of +15.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, dropping by -11.3% against the previous year. Overall, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 27% 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.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to New Zealand ($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 the United States (+5.7%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal

Imports into Australia

In 2021, the amount of machine tools for working metal imported into Australia soared to X units, increasing by 55% on 2020 figures. Overall, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for working metal to Australia, accounting for a 86% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.9% per year) and the United States (-2.9% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Australia, comprising 27% of total imports. The second position in the ranking was held by New Zealand ($X), with an 8.1% share of total imports. It was followed by the United States, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+7.1% per year) and the United States (-6.1% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, with a decrease of -8.2% against the previous year. Overall, the import price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 16% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was New Zealand ($X per unit), while the price for China ($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 Zealand (+16.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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