Egypt: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Egypt

The Egyptian balancing mechanical parts machine market expanded rapidly to $X in 2021, surging by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a prominent expansion. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Egypt

After four years of growth, overseas shipments of machines for balancing mechanical parts decreased by -91.7% to X units in 2021. Overall, exports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 403%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports shrank significantly to $X in 2021. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 572% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for balancing mechanical parts machine exports from Egypt, accounting for a 60% share of total exports. Moreover, balancing mechanical parts machine exports to Germany exceeded the volume sent to the second major destination, Georgia (X units), twofold.

From 2012 to 2021, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-29.6% per year) and the United States (0.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Egypt, comprising 47% of total exports. The second position in the ranking was held by Georgia ($X), with a 21% share of total exports. It was followed by Norway, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-15.4% per year) and Norway (-24.9% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, growing by 829% against the previous year. Overall, the export price posted a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Norway ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+39.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Egypt

In 2021, the amount of machines for balancing mechanical parts imported into Egypt rose significantly to X units, surging by 5.5% compared with 2020. In general, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2019 when imports increased by 139% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.4% against 2017 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 65%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

China (X units), the United States (X units) and Turkey (X units) were the main suppliers of balancing mechanical parts machine imports to Egypt, together accounting for 74% of total imports. Poland, Sweden, Germany, Italy and Canada lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +55.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of machines for balancing mechanical parts to Egypt, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Italy, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and Italy (+2.7% per year).

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, picking up by 18% against the previous year. In general, the import price, however, showed a slight decline. The pace of growth was the most pronounced in 2016 when the average import price increased by 276%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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