Eastern Asia: Working Wire Machine Market 2024

Working Wire Machine Market Size in Eastern Asia

In 2021, the East Asian working wire machine market decreased by -7.8% to $X, falling for the fifth year in a row after five years of growth. Overall, consumption recorded a pronounced reduction. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Working Wire Machine Production in Eastern Asia

In value terms, working wire machine production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Working Wire Machine Exports

Exports in Eastern Asia

In 2021, overseas shipments of machines for working wire increased by 68% to X units, rising for the seventh year in a row after two years of decline. Over the period under review, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine exports skyrocketed to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporting country with an export of about X units, which amounted to 76% of total exports. It was distantly followed by Taiwan (Chinese) (X units), constituting a 21% share of total exports. Japan (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the machines for working wire exports, with a CAGR of +15.4% from 2012 to 2021. At the same time, Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (+30 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-3.2 p.p.) and Taiwan (Chinese) (-20.4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest working wire machine supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Japan ($X), with a 14% share of total exports.

In China, working wire machine exports increased at an average annual rate of +11.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-3.0% per year) and Taiwan (Chinese) (-3.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, falling by -20% against the previous year. Overall, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2013 when the export price increased by 28%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-2.3%), while the other leaders experienced a decline in the export price figures.

Working Wire Machine Imports

Imports in Eastern Asia

In 2021, supplies from abroad of machines for working wire increased by 52% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a slight decline. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports skyrocketed to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.0% against 2018 indices. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units) and South Korea (X units) represented roughly 78% of total imports in 2021. Taiwan (Chinese) (X units) took the next position in the ranking, followed by Japan (X units). All these countries together held near 19% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +3.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machines for working wire in Eastern Asia, comprising 62% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

In China, working wire machine imports expanded at an average annual rate of +2.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+1.9% per year) and Taiwan (Chinese) (+5.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, surging by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2013 an increase of 21% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, 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 ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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