China: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in China

The Chinese sugar-manufacturing industrial machinery market dropped to $X in 2022, waning by -3.9% against the previous year. In general, consumption saw a pronounced reduction. Sugar-manufacturing industrial machinery consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Sugar-Manufacturing Industrial Machinery Production in China

In value terms, sugar-manufacturing industrial machinery production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of 20% against the previous year. Sugar-manufacturing industrial machinery production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Sugar-Manufacturing Industrial Machinery Exports

Exports from China

In 2022, shipments abroad of industrial machinery for the manufacture or preparation of sugar was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. In general, exports showed tangible growth. The most prominent rate of growth was recorded in 2013 with an increase of 165%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sugar-manufacturing industrial machinery exports soared to $X in 2022. Overall, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of 193% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for sugar-manufacturing industrial machinery exports from China, accounting for a 39% share of total exports. Moreover, sugar-manufacturing industrial machinery exports to the United States exceeded the volume sent to the second major destination, Nigeria (X units), fivefold. The third position in this ranking was held by Canada (X units), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +75.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+45.8% per year) and Canada (+30.4% per year).

In value terms, the United States ($X), Myanmar ($X) and Vietnam ($X) appeared to be the largest markets for sugar-manufacturing industrial machinery exported from China worldwide, with a combined 51% share of total exports. Israel, Canada, Nigeria, Spain, Italy, India, Bangladesh, Mexico, Kazakhstan and Angola lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Spain, with a CAGR of +72.1%, recorded the highest rates of growth with regard to 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

In 2022, the average sugar-manufacturing industrial machinery export price amounted to $X per unit, declining by -9.4% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 11%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per unit), while the average price for exports to Angola ($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 Myanmar (+22.7%), while the prices for the other major destinations experienced a decline.

Sugar-Manufacturing Industrial Machinery Imports

Imports into China

In 2022, sugar-manufacturing industrial machinery imports into China fell to X units, shrinking by -10.5% against 2021 figures. Overall, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 768%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sugar-manufacturing industrial machinery imports surged to $X in 2022. Over the period under review, imports, however, saw a measured expansion. The most prominent rate of growth was recorded in 2016 with an increase of 757%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X units) was the main supplier of sugar-manufacturing industrial machinery to China, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled -14.8%.

In value terms, Italy ($X) constituted the largest supplier of industrial machinery for the manufacture or preparation of sugar to China.

From 2012 to 2022, the average annual growth rate of value from Italy totaled -4.6%.

Import Prices by Country

In 2022, the average sugar-manufacturing industrial machinery import price amounted to $X per unit, with an increase of 56% against the previous year. Over the period under review, the import price, however, showed a noticeable slump. The pace of growth was the most pronounced in 2019 when the average import price increased by 61% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to +12.0% per year.

Source: IndexBox Platform

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