China: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in China

The Chinese gear cutting machine market surged to $X in 2021, with an increase of 25% against the previous year. In general, consumption continues to indicate a temperate increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Gear Cutting Machine Production in China

In value terms, gear cutting machine production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Gear Cutting Machine Exports

Exports from China

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from China reduced dramatically to X units, falling by -18.4% compared with the previous year's figure. Overall, exports saw a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 45% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, gear cutting machine exports soared to $X in 2021. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 66%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for gear cutting machine exports from China, with a 23% share of total exports. Moreover, gear cutting machine exports to Russia exceeded the volume sent to the second major destination, Colombia (X units), twofold. The third position in this ranking was held by Mexico (X units), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+5.5% per year) and Mexico (-12.7% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from China, comprising 14% of total exports. The second position in the ranking was held by Vietnam ($X), with a 6.4% share of total exports. It was followed by Russia, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia amounted to +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+2.2% per year) and Russia (-8.8% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, increasing by 66% against the previous year. Overall, the export price posted a moderate expansion. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Chile ($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 Malaysia (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into China

In 2021, overseas purchases of gear cutting, gear grinding or gear finishing machines were finally on the rise to reach X units after four years of decline. Over the period under review, imports, however, recorded a mild setback. The pace of growth was the most pronounced in 2016 when imports increased by 28,036%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild reduction. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), Japan (X units) and Switzerland (X units) were the main suppliers of gear cutting machine imports to China, with a combined 80% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +1.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to China, comprising 66% of total imports. The second position in the ranking was held by Japan ($X), with a 20% share of total imports. It was followed by Switzerland, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.0% per year) and Switzerland (-2.3% per year).

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, declining by -12.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24,190% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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