Bangladesh: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Bangladesh

The Bangladeshi grinding and sharpening machine market reduced modestly to $X in 2022, shrinking by -2% against the previous year. Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Bangladesh

In value terms, grinding and sharpening machine production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a resilient increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 72%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Bangladesh

In 2022, grinding and sharpening machine exports from Bangladesh skyrocketed to X units, with an increase of 100% on the previous year's figure. Overall, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 367% 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 somewhat lower figure.

In value terms, grinding and sharpening machine exports shrank to $X in 2022. In general, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 332% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for grinding and sharpening machine exports from Bangladesh, accounting for a 75% share of total exports. Moreover, grinding and sharpening machine exports to India exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +11.6%.

In value terms, India ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Bangladesh, comprising 84% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +10.4%.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, declining by -57.4% against the previous year. In general, the export price saw a noticeable shrinkage. The growth pace was the most rapid in 2016 an increase of 1,413%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the United Arab Emirates amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.1%).

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Bangladesh

In 2022, after two years of decline, there was significant growth in supplies from abroad of grinding and sharpening metal finishing machines, when their volume increased by 18% to X units. In general, imports posted a measured expansion. The growth pace was the most rapid in 2014 when imports increased by 900%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, grinding and sharpening machine imports declined to $X in 2022. Over the period under review, imports posted a slight increase. The most prominent rate of growth was recorded in 2014 with an increase of 732%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Russia (X units) were the main suppliers of grinding and sharpening machine imports to Bangladesh, together comprising 64% of total imports. Germany, France, Taiwan (Chinese) and Japan lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +32.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and India ($X) constituted the largest grinding and sharpening machine suppliers to Bangladesh, together comprising 45% of total imports. Germany, Japan, Russia and France lagged somewhat behind, together accounting for a further 17%.

In terms of the main suppliers, France, with a CAGR of +35.1%, saw 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

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, declining by -20% against the previous year. Over the period under review, the import price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 an increase of 71%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :