Belgium: Working Wire Machine Market 2024

Working Wire Machine Market Size in Belgium

The Belgian working wire machine market dropped slightly to $X in 2021, which is down by -3.2% against the previous year. Overall, consumption faced a abrupt curtailment. Working wire machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Working Wire Machine Production in Belgium

In value terms, working wire machine production shrank markedly to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Working Wire Machine Exports

Exports from Belgium

In 2021, the amount of machines for working wire exported from Belgium surged to X units, increasing by 58% on 2020. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 385% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, working wire machine exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 98%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X units) was the main destination for working wire machine exports from Belgium, with a 77% share of total exports. Moreover, working wire machine exports to the Czech Republic exceeded the volume sent to the second major destination, Canada (X units), fivefold. The United States (X units) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic totaled +78.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+64.1% per year) and the United States (+10.7% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for machines for working wire exports from Belgium, comprising 76% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.6% share of total exports. It was followed by India, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to the Czech Republic amounted to +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-6.7% per year) and India (-29.7% per year).

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, declining by -14.7% against the previous year. Overall, the export price showed a dramatic decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 180% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to the United States ($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 Peru (+18.0%), while the prices for the other major destinations experienced a decline.

Working Wire Machine Imports

Imports into Belgium

Working wire machine imports into Belgium skyrocketed to X units in 2021, jumping by 119% against 2020 figures. Overall, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 930% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, working wire machine imports soared to $X in 2021. Over the period under review, imports showed tangible growth. The growth pace was the most rapid in 2016 with an increase of 179% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest working wire machine supplier to Belgium, with a 48% share of total imports. Moreover, working wire machine imports from Germany exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), twofold. The third position in this ranking was taken by China (X units), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (0.0% per year) and China (+19.2% per year).

In value terms, the largest working wire machine suppliers to Belgium were Germany ($X), Taiwan (Chinese) ($X) and China ($X), together accounting for 70% of total imports.

Taiwan (Chinese), with a CAGR of +156.6%, 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

The average working wire machine import price stood at $X per unit in 2021, falling by -26.2% against the previous year. Overall, the import price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 1,067%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, 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) ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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