Estonia: Market for Non-Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Sharpening Machines For Working Metal in Estonia

The Estonian non-numerically controlled sharpening machine market soared to $X in 2022, picking up by 63% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Non-Numerically Controlled Sharpening Machines For Working Metal in Estonia

In value terms, non-numerically controlled sharpening machine production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2019 with an increase of 37% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports from Estonia

After three years of growth, overseas shipments of non-numerically controlled sharpening machines for working metal decreased by -39.1% to X units in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 378% against the previous year. The exports peaked at X units in 2021, and then declined rapidly in the following year.

In value terms, non-numerically controlled sharpening machine exports shrank notably to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 288% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell sharply in the following year.

Exports by Country

Latvia (X units), Lithuania (X units) and Finland (X units) were the main destinations of non-numerically controlled sharpening machine exports from Estonia, with a combined 95% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +78.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Latvia ($X) and Finland ($X) were the largest markets for non-numerically controlled sharpening machine exported from Estonia worldwide, together accounting for 84% of total exports.

Finland, with a CAGR of +74.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-numerically controlled sharpening machine export price stood at $X per unit in 2022, growing by 3.5% against the previous year. Over the period under review, the export price, however, saw a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 165% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Latvia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports into Estonia

In 2022, the amount of non-numerically controlled sharpening machines for working metal imported into Estonia surged to X units, with an increase of 53% on the previous year's figure. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 67% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, non-numerically controlled sharpening machine imports contracted significantly to $X in 2022. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 164% against the previous year. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-numerically controlled sharpening machine to Estonia, with a 87% share of total imports. Moreover, non-numerically controlled sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +34.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+58.2% per year) and Belgium (+27.0% per year).

In value terms, China ($X) constituted the largest supplier of non-numerically controlled sharpening machines for working metal to Estonia, comprising 63% of total imports. The second position in the ranking was taken by Belgium ($X), with a 5.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+25.6% per year) and Switzerland (+36.5% per year).

Import Prices by Country

In 2022, the average non-numerically controlled sharpening machine import price amounted to $X per unit, shrinking by -63.3% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 an increase of 66%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform