China: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in China

The Chinese grinding and sharpening machine market rose significantly to $X in 2022, growing by 6.2% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.7% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Grinding And Sharpening Metal Finishing Machines in China

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 33%. Grinding and sharpening machine production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from China

After two years of growth, overseas shipments of grinding and sharpening metal finishing machines decreased by -22.1% to X units in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. As a result, the exports reached the peak of X units, and then contracted sharply in the following year.

In value terms, grinding and sharpening machine exports stood at $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Russia (X units) and Germany (X units) were the main destinations of grinding and sharpening machine exports from China, together comprising 57% of total exports. Slovenia, Poland, Belgium, Austria, the Netherlands, Australia, France, Brazil and India lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +72.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Germany ($X) and India ($X) constituted the largest markets for grinding and sharpening machine exported from China worldwide, together accounting for 25% of total exports. The United States, Poland, Brazil, Austria, the Netherlands, Slovenia, Australia, Belgium and France lagged somewhat behind, together comprising a further 19%.

Among the main countries of destination, Slovenia, with a CAGR of +59.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, growing by 29% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 32%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into China

After two years of growth, overseas purchases of grinding and sharpening metal finishing machines decreased by -17.8% to X units in 2022. Over the period under review, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, grinding and sharpening machine imports shrank to $X in 2022. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 71%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of grinding and sharpening machine to China, accounting for a 22% share of total imports. Moreover, grinding and sharpening machine imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was held by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-18.8% per year) and Germany (-13.1% per year).

In value terms, Germany ($X), Thailand ($X) and Switzerland ($X) were the largest grinding and sharpening machine suppliers to China, with a combined 53% share of total imports. Japan, Australia, South Korea and the United States lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Australia, with a CAGR of +2.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, surging by 11% against the previous year. In general, the import price, however, saw a deep downturn. The pace of growth was the most pronounced in 2021 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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