Eastern Asia: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Eastern Asia

In 2021, after three years of growth, there was significant decline in the East Asian wood milling machine market, when its value decreased by -14.7% to $X. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell in the following year.

Wood Milling Machine Production in Eastern Asia

In value terms, wood milling machine production declined to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 34%. As a result, production attained the peak level of $X, and then dropped in the following year.

Wood Milling Machine Exports

Exports in Eastern Asia

In 2021, approx. X units of planing, milling or moulding machines were exported in Eastern Asia; which is down by -4.5% compared with 2020. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 40% against the previous year. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, wood milling machine exports surged to $X in 2021. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 175% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China represented the largest exporter of planing, milling or moulding machines in Eastern Asia, with the volume of exports resulting at X units, which was near 73% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), committing a 27% share of total exports.

China was also the fastest-growing in terms of the planing, milling or moulding machines exports, with a CAGR of +8.3% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2021, the share of China increased by +15 percentage points.

In value terms, the largest wood milling machine supplying countries in Eastern Asia were China ($X) and Taiwan (Chinese) ($X).

In terms of the main exporting countries, China, with a CAGR of +12.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, surging by 40% against the previous year. Over the period under review, the export price saw a perceptible increase. The pace of growth appeared the most rapid in 2014 an increase of 138%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.9%).

Wood Milling Machine Imports

Imports in Eastern Asia

In 2021, imports of planing, milling or moulding machines in Eastern Asia soared to X units, picking up by 24% compared with 2020 figures. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 34%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, wood milling machine imports declined to $X in 2021. Overall, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 40%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China was the largest importing country with an import of around X units, which accounted for 43% of total imports. Taiwan (Chinese) (X units) ranks second in terms of the total imports with a 22% share, followed by Japan (19%) and South Korea (16%).

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +11.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported planing, milling or moulding machines in Eastern Asia, comprising 76% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by South Korea, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -5.1%. In the other countries, the average annual rates were as follows: Japan (+1.6% per year) and South Korea (+7.3% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, reducing by -20.5% against the previous year. Over the period under review, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 Japan (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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