Eastern Asia: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Eastern Asia

In 2021, the East Asian machine-tool for working metal market decreased by -29.7% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal in Eastern Asia

In value terms, machine-tool for working metal production amounted to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 25%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports in Eastern Asia

In 2021, approx. X units of machine tools for working metal were exported in Eastern Asia; picking up by 36% against 2020. Over the period under review, exports, however, recorded a slight slump. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X units) represented the largest exporter of machine tools for working metal, committing 75% of total exports. It was distantly followed by Taiwan (Chinese) (X units) and South Korea (X units), together constituting a 19% share of total exports. Hong Kong SAR (X units) and Japan (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +12.1% from 2012 to 2021. At the same time, Hong Kong SAR (+14.7%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +14.7% from 2012-2021. By contrast, Taiwan (Chinese) (-7.5%), South Korea (-12.7%) and Japan (-25.7%) illustrated a downward trend over the same period. While the share of China (+51 p.p.) and Hong Kong SAR (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-9 p.p.), South Korea (-14.1 p.p.) and Japan (-31 p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, with a combined 84% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +7.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, waning by -4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 68% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+23.0%), while the other leaders experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports in Eastern Asia

Machine-tool for working metal imports contracted to X units in 2021, shrinking by -6.2% against the previous year's figure. Over the period under review, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 when imports increased by 31%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2021. In general, imports showed a abrupt downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) represented the main importer of machine tools for working metal, making up 59% of total imports. Japan (X units) ranks second in terms of the total imports with a 22% share, followed by South Korea (14%). Taiwan (Chinese) (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working metal imports into China stood at -19.7%. At the same time, Japan (+2.5%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.5% from 2012-2021. By contrast, South Korea (-17.4%) and Taiwan (Chinese) (-18.9%) illustrated a downward trend over the same period. Japan (+19 p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by -17.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machine tools for working metal in Eastern Asia, comprising 75% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with a 6.3% share.

In China, machine-tool for working metal imports shrank by an average annual rate of -6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-4.1% per year) and Japan (-0.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, increasing by 32% against the previous year. Over the period under review, the import price recorded buoyant growth. The growth pace was the most rapid in 2020 when the import price increased by 45% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+21.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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