Belgium: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Belgium

After three years of growth, the Belgian machine-tool for removing material market decreased by -54.3% to $X in 2021. Over the period under review, consumption, however, continues to indicate resilient growth. As a result, consumption attained the peak level of $X, and then dropped remarkably in the following year.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Belgium

For the third year in a row, Belgium recorded growth in overseas shipments of machine-tools for working any material by removal of material, which increased by 101% to X units in 2021. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 340%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, machine-tool for removing material exports surged to $X in 2021. In general, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 172% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units), Spain (X units) and France (X units) were the main destinations of machine-tool for removing material exports from Belgium, with a combined 58% share of total exports. These countries were followed by Finland, Denmark, Poland, Germany, Italy, Sweden, Switzerland and Romania, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +88.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for machine-tools for working any material by removal of material exports from Belgium, comprising 40% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by France, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.6% per year) and France (+8.9% per year).

Export Prices by Country

The average machine-tool for removing material export price stood at $X per unit in 2021, reducing by -34.8% against the previous year. Over the period under review, the export price, however, enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 118% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Spain ($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 Germany (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Belgium

In 2021, overseas purchases of machine-tools for working any material by removal of material decreased by -53% to X units for the first time since 2015, thus ending a five-year rising trend. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 344% against the previous year. As a result, imports reached the peak of X units, and then shrank dramatically in the following year.

In value terms, machine-tool for removing material imports expanded modestly to $X in 2021. Overall, imports, however, showed a strong increase. The growth pace was the most rapid in 2020 with an increase of 88% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for removing material supplier to Belgium, with a 48% share of total imports. Moreover, machine-tool for removing material imports from China exceeded the figures recorded by the second-largest supplier, France (X units), threefold. Japan (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +59.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+26.1% per year) and Japan (+46.7% per year).

In value terms, Japan ($X) constituted the largest supplier of machine-tools for working any material by removal of material to Belgium, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by China, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and China (+31.2% per year).

Import Prices by Country

In 2021, the average machine-tool for removing material import price amounted to $X per unit, increasing by 116% against the previous year. Overall, the import price, however, faced a abrupt descent. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for France ($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 (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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