China: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in China

The Chinese machine-tool for working wood market dropped rapidly to $X in 2021, shrinking by -34.9% against the previous year. In general, consumption showed a pronounced setback. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Machine-Tools For Working Wood in China

In value terms, machine-tool for working wood production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 72% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Exports of Machine-Tools For Working Wood

Exports from China

For the sixth consecutive year, China recorded growth in shipments abroad of machine-tools for working wood, which increased by 34% to X tons in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 76%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, machine-tool for working wood exports skyrocketed to $X in 2021. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 72% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Vietnam (X tons) and Germany (X tons) were the main destinations of machine-tool for working wood exports from China, together accounting for 41% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +54.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for working wood exported from China were Vietnam ($X), the United States ($X) and Germany ($X), together accounting for 46% of total exports.

Vietnam, with a CAGR of +48.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, surging by 4.5% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 9.4%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Indonesia ($X per ton) 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 a decline.

Imports of Machine-Tools For Working Wood

Imports into China

In 2021, overseas purchases of machine-tools for working wood were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working wood imports expanded slightly to $X in 2021. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 59%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of machine-tool for working wood to China, with a 50% share of total imports. Moreover, machine-tool for working wood imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-14.7% per year) and Italy (-8.4% per year).

In value terms, Germany ($X) constituted the largest supplier of machine-tools for working wood to China, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.1% per year) and Japan (-9.4% per year).

Import Prices by Country

The average machine-tool for working wood import price stood at $X per ton in 2021, declining by -2% against the previous year. Over the period under review, the import price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 62% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then fell modestly in the following year.

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 ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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