Eastern Asia: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Eastern Asia

The East Asian wood bending machine market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a pronounced decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wood Bending Machine Production in Eastern Asia

In value terms, wood bending machine production rose slightly to $X in 2021 estimated in export price. Overall, production enjoyed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wood Bending Machine Exports

Exports in Eastern Asia

In 2021, shipments abroad of bending or assembling machines increased by 34% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 191%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, wood bending machine exports soared to $X in 2021. In general, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when exports increased by 38% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China was the main exporting country with an export of around X units, which finished at 87% of total exports. It was distantly followed by Taiwan (Chinese) (X units), committing an 11% share of total exports. South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the bending or assembling machines exports, with a CAGR of +38.2% from 2012 to 2021. At the same time, Taiwan (Chinese) (+21.6%) and South Korea (+12.4%) displayed positive paces of growth. While the share of China (+32 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-6.9 p.p.) and Taiwan (Chinese) (-10.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest wood bending machine supplier in Eastern Asia, comprising 80% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +23.9%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.0% per year) and Taiwan (Chinese) (-4.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, dropping by -13.3% against the previous year. In general, the export price faced a abrupt contraction. The pace of growth was the most pronounced in 2016 an increase of 102% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-3.0%), while the other leaders experienced a decline in the export price figures.

Wood Bending Machine Imports

Imports in Eastern Asia

After three years of decline, supplies from abroad of bending or assembling machines increased by 18% to X units in 2021. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 58%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, wood bending machine imports reduced to $X in 2021. In general, imports, however, saw a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by 38% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China represented the largest importer of bending or assembling machines in Eastern Asia, with the volume of imports reaching X units, which was near 58% of total imports in 2021. It was distantly followed by Japan (X units), Taiwan (Chinese) (X units) and South Korea (X units), together committing a 41% share of total imports.

Imports into China decreased at an average annual rate of -13.2% from 2012 to 2021. At the same time, Taiwan (Chinese) (+9.4%) and Japan (+4.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.4% from 2012-2021. By contrast, South Korea (-6.2%) illustrated a downward trend over the same period. While the share of Japan (+14 p.p.), Taiwan (Chinese) (+11 p.p.) and South Korea (+4.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-7.3 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported bending or assembling machines in Eastern Asia, comprising 63% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by South Korea, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -12.5%. In the other countries, the average annual rates were as follows: Japan (+5.6% per year) and South Korea (-5.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, reducing by -23.6% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood bending machine import price decreased by -43.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 65% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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