China: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in China

In 2021, the Chinese wood bending machine market increased by 17% to $X, rising for the fifth year in a row after two years of decline. In general, consumption continues to indicate significant growth. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the immediate term.

Wood Bending Machine Production in China

In value terms, wood bending machine production reached $X in 2021 estimated in export price. Overall, production posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 65%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Wood Bending Machine Exports

Exports from China

Wood bending machine exports from China skyrocketed to X units in 2021, with an increase of 51% compared with the previous year. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 637%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, wood bending machine exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 60%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Russia (X units), the United States (X units) and Vietnam (X units) were the main destinations of wood bending machine exports from China, with a combined 39% share of total exports. Algeria, Poland, India, Austria, the Philippines, Peru, Mexico, Uruguay, Chile and Brazil lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +134.9%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for bending or assembling machines exports from China, comprising 43% of total exports. The second position in the ranking was held by Russia ($X), with a 7% share of total exports. It was followed by the United States, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+33.8% per year) and the United States (+104.1% per year).

Export Prices by Country

In 2021, the average wood bending machine export price amounted to $X per unit, waning by -18.3% against the previous year. Overall, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2016 an increase of 229% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Austria ($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 Vietnam (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Bending Machine Imports

Imports into China

In 2021, supplies from abroad of bending or assembling machines increased by 7.8% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 95%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, wood bending machine imports reduced remarkably to $X in 2021. In general, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 77%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), Japan (X units) and Italy (X units) were the main suppliers of wood bending machine imports to China, with a combined 70% share of total imports. Turkey, the Netherlands, South Korea and Germany lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +23.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of bending or assembling machines to China, comprising 28% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-20.7% per year) and Taiwan (Chinese) (-12.3% per year).

Import Prices by Country

The average wood bending machine import price stood at $X per unit in 2021, declining by -30% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 84%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Turkey ($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 Netherlands (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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