China: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in China

In 2021, the Chinese balancing mechanical parts machine market decreased by -0.3% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in China

In value terms, balancing mechanical parts machine production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 48% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports from China

In 2021, shipments abroad of machines for balancing mechanical parts increased by 18% to X units, rising for the second year in a row after two years of decline. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 79%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Overall, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.7% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Germany (X units) and the United Arab Emirates (X units) were the main destinations of balancing mechanical parts machine exports from China, with a combined 39% share of total exports. Poland, Russia, Japan, Canada, the UK, India, Brazil, Spain, Thailand and France lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +35.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Thailand ($X) appeared to be the largest markets for balancing mechanical parts machine exported from China worldwide, with a combined 24% share of total exports. These countries were followed by Poland, Russia, India, Japan, Brazil, the UK, Canada, France, Spain and the United Arab Emirates, which together accounted for a further 27%.

Poland, with a CAGR of +25.4%, 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

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, growing by 21% against the previous year. Overall, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Thailand ($X per unit), while the average price for exports to the United Arab Emirates ($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 Thailand (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Machines For Balancing Mechanical Parts

Imports into China

In 2021, supplies from abroad of machines for balancing mechanical parts was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 1,008%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. In general, imports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 32%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X units) constituted the largest supplier of balancing mechanical parts machine to China, accounting for a 50% share of total imports. Moreover, balancing mechanical parts machine imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Japan (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.6% per year) and Japan (-2.3% per year).

In value terms, Japan ($X), Germany ($X) and Italy ($X) constituted the largest balancing mechanical parts machine suppliers to China, together comprising 85% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +6.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, reducing by -9.1% against the previous year. Over the period under review, the import price showed a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of 6,038%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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