Benelux: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Benelux

The Benelux machinery electrical parts market dropped modestly to $X in 2022, remaining constant against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Machinery Electrical Parts Production in Benelux

In value terms, machinery electrical parts production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight decline. The growth pace was the most rapid in 2014 when the production volume increased by 116%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports in Benelux

In 2022, after two years of growth, there was significant decline in overseas shipments of electrical parts of machinery or apparatus, when their volume decreased by -14.4% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 59%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, machinery electrical parts exports declined to $X in 2022. In general, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2020 when exports increased by 73% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Belgium was the main exporter of electrical parts of machinery or apparatus in Benelux, with the volume of exports finishing at X tons, which was near 66% of total exports in 2022. It was distantly followed by the Netherlands (X tons), achieving a 32% share of total exports. Luxembourg (X tons) followed a long way behind the leaders.

Belgium experienced a relatively flat trend pattern with regard to volume of exports of electrical parts of machinery or apparatus. At the same time, Luxembourg (+8.1%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +8.1% from 2012-2022. By contrast, the Netherlands (-2.0%) illustrated a downward trend over the same period. Belgium (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest machinery electrical parts supplying countries in Benelux were the Netherlands ($X), Belgium ($X) and Luxembourg ($X).

The Netherlands, with a CAGR of +10.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, surging by 7.5% against the previous year. Overall, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by 32% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the other leaders experienced mixed trends in the export price figures.

Machinery Electrical Parts Imports

Imports in Benelux

After two years of growth, purchases abroad of electrical parts of machinery or apparatus decreased by -0.8% to X tons in 2022. In general, imports saw a mild downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 54% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, machinery electrical parts imports declined dramatically to $X in 2022. Over the period under review, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 52%. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, Belgium (X tons) represented the main importer of electrical parts of machinery or apparatus, making up 84% of total imports. It was distantly followed by the Netherlands (X tons), comprising a 16% share of total imports.

Imports into Belgium decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, the Netherlands (+3.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Benelux, with a CAGR of +3.4% from 2012-2022. From 2012 to 2022, the share of the Netherlands increased by +5.7 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in Benelux, comprising 72% of total imports. The second position in the ranking was held by Belgium ($X), with a 27% share of total imports.

In the Netherlands, machinery electrical parts imports expanded at an average annual rate of +7.8% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, shrinking by -16.5% against the previous year. Over the period under review, the import price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the import price increased by 91% against the previous year. The level of import peaked at $X per ton in 2021, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+11.8%).

Source: IndexBox Platform