Central Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Central Asia

After three years of decline, the Central Asian balancing mechanical parts machine market increased by 26% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Central Asia

In value terms, balancing mechanical parts machine production rose slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Central Asia

In 2021, balancing mechanical parts machine exports in Central Asia surged to X units, rising by 16% compared with the previous year's figure. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 357% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 491%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kazakhstan dominates exports structure, amounting to X units, which was approx. 94% of total exports in 2021. It was distantly followed by Kyrgyzstan (X units), making up a 5.6% share of total exports.

Kazakhstan was also the fastest-growing in terms of the machines for balancing mechanical parts exports, with a CAGR of +23.7% from 2012 to 2021. Kyrgyzstan experienced a relatively flat trend pattern. While the share of Kazakhstan (+23 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kyrgyzstan (-23 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest balancing mechanical parts machine supplier in Central Asia, comprising 73% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan totaled -2.0%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per unit, flattening at the previous year. In general, the export price, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2015 an increase of 161% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Kyrgyzstan ($X per unit), while Kazakhstan stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+9.3%).

Imports of Machines For Balancing Mechanical Parts

Imports in Central Asia

In 2021, the amount of machines for balancing mechanical parts imported in Central Asia soared to X units, growing by 355% compared with 2020 figures. Over the period under review, imports enjoyed a prominent increase. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports skyrocketed to $X in 2021. Overall, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Uzbekistan represented the major importer of machines for balancing mechanical parts in Central Asia, with the volume of imports recording X units, which was approx. 72% of total imports in 2021. It was distantly followed by Kazakhstan (X units), mixing up a 23% share of total imports. Turkmenistan (X units) followed a long way behind the leaders.

Uzbekistan was also the fastest-growing in terms of the machines for balancing mechanical parts imports, with a CAGR of +79.0% from 2012 to 2021. Kazakhstan (-1.1%) and Turkmenistan (-13.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan increased by +72 percentage points.

In value terms, Uzbekistan ($X), Kazakhstan ($X) and Turkmenistan ($X) were the countries with the highest levels of imports in 2021, with a combined 97% share of total imports.

Uzbekistan, with a CAGR of +60.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per unit, with a decrease of -31.8% against the previous year. Over the period under review, the import price showed a perceptible descent. The growth pace was the most rapid in 2018 when the import price increased by 72%. The level of import peaked at $X per unit in 2020, and then reduced remarkably in the following year.

Prices varied noticeably country of destination: the country with the highest price was Turkmenistan ($X per unit), while Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkmenistan (+7.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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