China: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in China

In 2021, the Chinese wood drilling machine market decreased by -12% to $X, falling for the second consecutive year after eight years of growth. In general, consumption, however, posted strong growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Drilling Machine Production in China

In value terms, wood drilling machine production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a significant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 60%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Wood Drilling Machine Exports

Exports from China

In 2021, the amount of drilling or morticing machines exported from China skyrocketed to X units, growing by 18% on 2020 figures. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 89% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, wood drilling machine exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 86% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for wood drilling machine exports from China, with a 53% share of total exports. Moreover, wood drilling machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was held by Russia (X units), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +58.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+58.9% per year) and Russia (+33.9% per year).

In value terms, Vietnam ($X) remains the key foreign market for drilling or morticing machines exports from China, comprising 34% of total exports. The second position in the ranking was taken by Russia ($X), with an 11% share of total exports. It was followed by the United States, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +62.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+22.4% per year) and the United States (+25.7% per year).

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, surging by 3.1% against the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The growth pace was the most rapid in 2013 an increase of 44%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the United States ($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 the UK (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into China

In 2021, overseas purchases of drilling or morticing machines increased by 24% to X units, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 175%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, wood drilling machine imports reached $X in 2021. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by 56%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest wood drilling machine supplier to China, with a 79% share of total imports. Moreover, wood drilling machine imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), tenfold. The Netherlands (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.8% per year) and the Netherlands (-1.4% per year).

In value terms, Germany ($X) constituted the largest supplier of drilling or morticing machines to China, comprising 76% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.3% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-19.9% per year) and Japan (-21.5% per year).

Import Prices by Country

In 2021, the average wood drilling machine import price amounted to $X per unit, declining by -11% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 62%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a 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 Italy ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :