EU: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in the EU

In 2022, the EU grinding and sharpening machine market increased by 1.2% to $X, rising for the fifth consecutive year after four years of decline. In general, consumption continues to indicate a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Production of Grinding And Sharpening Metal Finishing Machines in the EU

In value terms, grinding and sharpening machine production declined sharply to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 234%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in the EU

In 2022, shipments abroad of grinding and sharpening metal finishing machines decreased by -13.8% to X units, falling for the third consecutive year after two years of growth. In general, exports, however, showed noticeable growth. The pace of growth was the most pronounced in 2018 when exports increased by 133%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, grinding and sharpening machine exports dropped slightly to $X in 2022. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany was the largest exporting country with an export of about X units, which resulted at 39% of total exports. It was distantly followed by Spain (X units), the Netherlands (X units), Austria (X units) and Sweden (X units), together comprising a 42% share of total exports. The following exporters - Italy (X units), Poland (X units) and the Czech Republic (X units) - each finished at a 9.4% share of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of grinding and sharpening metal finishing machines. At the same time, Spain (+25.9%), Poland (+16.5%), Sweden (+8.9%), Austria (+8.5%), the Czech Republic (+4.1%) and the Netherlands (+3.7%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +25.9% from 2012-2022. By contrast, Italy (-3.8%) illustrated a downward trend over the same period. While the share of Spain (+11 p.p.), Austria (+3.7 p.p.), Sweden (+2.3 p.p.) and Poland (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (-3.5 p.p.) and Germany (-16.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest grinding and sharpening machine supplier in the European Union, comprising 49% of total exports. The second position in the ranking was taken by Italy ($X), with a 14% share of total exports. It was followed by Sweden, with a 6.2% share.

In Germany, grinding and sharpening machine exports shrank by an average annual rate of -15.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (-17.2% per year) and Sweden (-7.8% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2022, picking up by 16% against the previous year. Over the period under review, the export price, however, faced a deep slump. The most prominent rate of growth was recorded in 2021 when the export price increased by 67% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-8.5%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in the EU

In 2022, purchases abroad of grinding and sharpening metal finishing machines decreased by -6.5% to X units, falling for the second consecutive year after four years of growth. Overall, imports, however, recorded moderate growth. The growth pace was the most rapid in 2018 when imports increased by 69%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine imports fell to $X in 2022. In general, imports continue to indicate a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 22%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units), Spain (X units), the Netherlands (X units), France (X units), Austria (X units), Poland (X units), the Czech Republic (X units) and Italy (X units) represented the key importer of grinding and sharpening metal finishing machines in the European Union, achieving 79% of total import. The following importers - Romania (X units), Sweden (X units), Portugal (X units), Hungary (X units) and Belgium (X units) - together made up 11% of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +14.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grinding and sharpening machine importing markets in the European Union were Germany ($X), Italy ($X) and France ($X), together comprising 55% of total imports. Poland, Austria, the Czech Republic, Spain, the Netherlands, Romania, Portugal, Hungary, Sweden and Belgium lagged somewhat behind, together accounting for a further 35%.

Portugal, with a CAGR of +1.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, approximately equating the previous year. Overall, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when the import price increased by 41% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-5.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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