Belgium: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Belgium

After two years of decline, the Belgian balancing mechanical parts machine market increased by 14% to $X in 2021. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -27.8% against 2018 indices. Balancing mechanical parts machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in Belgium

In value terms, balancing mechanical parts machine production stood at $X in 2021 estimated in export price. Overall, production showed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 106% against the previous year. Balancing mechanical parts machine production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Belgium

In 2021, after three years of growth, there was significant decline in shipments abroad of machines for balancing mechanical parts, when their volume decreased by -28.2% to X units. In general, exports, however, saw measured growth. The most prominent rate of growth was recorded in 2016 when exports increased by 436% against the previous year. The exports peaked at X units in 2020, and then fell sharply in the following year.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 263%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

France (X units), the UK (X units) and the United States (X units) were the main destinations of balancing mechanical parts machine exports from Belgium, with a combined 73% share of total exports. These countries were followed by Honduras, Luxembourg, Saudi Arabia, the Netherlands, Germany, China and the Dominican Republic, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Honduras (with a CAGR of +103.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Belgium, comprising 44% of total exports. The second position in the ranking was held by the UK ($X), with a 6.8% share of total exports. It was followed by France, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +91.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+73.2% per year) and France (+3.5% per year).

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, increasing by 117% against the previous year. Over the period under review, the export price recorded strong growth. The growth pace was the most rapid in 2017 an increase of 186%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Honduras ($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 Saudi Arabia (+29.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Belgium

For the fourth consecutive year, Belgium recorded growth in purchases abroad of machines for balancing mechanical parts, which increased by 16% to X units in 2021. Over the period under review, imports continue to indicate a moderate expansion. The growth pace was the most rapid in 2018 with an increase of 60%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, balancing mechanical parts machine imports expanded significantly to $X in 2021. Overall, imports recorded a notable expansion. The growth pace was the most rapid in 2018 when imports increased by 93%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of balancing mechanical parts machine imports to Belgium, together accounting for 70% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +55.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and China ($X) appeared to be the largest balancing mechanical parts machine suppliers to Belgium, together accounting for 57% of total imports.

China, with a CAGR of +54.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, reducing by -6.4% against the previous year. Overall, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, balancing mechanical parts machine import price decreased by -39.4% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 30%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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