Eastern Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Eastern Asia

After two years of decline, the East Asian balancing mechanical parts machine market increased by 3.6% to $X in 2021. Over the period under review, 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 Eastern Asia

In value terms, balancing mechanical parts machine production amounted to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 29% 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 in Eastern Asia

Balancing mechanical parts machine exports declined to X units in 2021, waning by -11.2% on the previous year. In general, exports saw a mild decline. The most prominent rate of growth was recorded in 2014 with an increase of 52%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 42%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, China (X units) represented the largest exporter of machines for balancing mechanical parts, achieving 59% of total exports. It was distantly followed by Japan (X units), creating a 33% share of total exports. The following exporters - South Korea (X units) and Taiwan (Chinese) (X units) - each amounted to a 7.5% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +14.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest balancing mechanical parts machine supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 95% of total exports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 3.3%.

Among the main exporting countries, Taiwan (Chinese), with a CAGR of +9.3%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, increasing by 53% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while China ($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 (+16.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in Eastern Asia

After three years of decline, purchases abroad of machines for balancing mechanical parts increased by 27% to X units in 2021. Overall, imports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of 70% against the previous year. The volume of import peaked 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 skyrocketed to $X in 2021. In general, imports, however, saw a pronounced decline. The growth pace was the most rapid in 2014 when imports increased by 30% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan was the main importer of machines for balancing mechanical parts in Eastern Asia, with the volume of imports resulting at X units, which was approx. 50% of total imports in 2021. Taiwan (Chinese) (X units) ranks second in terms of the total imports with a 24% share, followed by South Korea (23%). China (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine imports into Japan stood at -1.5%. At the same time, Taiwan (Chinese) (+2.9%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.9% from 2012-2021. By contrast, China (-2.4%) and South Korea (-9.5%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+11 p.p.) and Japan (+8.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-17.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machines for balancing mechanical parts in Eastern Asia, comprising 70% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with a 7.3% share.

In China, balancing mechanical parts machine imports declined by an average annual rate of -4.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-5.3% per year) and Taiwan (Chinese) (+3.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, flattening at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 107%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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