EU: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in the EU

In 2021, the EU balancing mechanical parts machine market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Machines For Balancing Mechanical Parts in the EU

In value terms, balancing mechanical parts machine production rose notably to $X in 2021 estimated in export price. In general, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports in the EU

In 2021, after three years of decline, there was significant growth in overseas shipments of machines for balancing mechanical parts, when their volume increased by 9.6% to X units. Overall, exports, however, recorded a perceptible contraction. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports rose sharply to $X in 2021. In general, exports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 30% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Italy (X units) represented the largest exporter of machines for balancing mechanical parts, committing 53% of total exports. Germany (X units) held the second position in the ranking, distantly followed by Poland (X units). All these countries together took near 32% share of total exports. Spain (X units), Lithuania (X units) and Hungary (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine exports from Italy stood at -4.1%. At the same time, Poland (+21.1%), Lithuania (+11.0%) and Spain (+9.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +21.1% from 2012-2021. Hungary experienced a relatively flat trend pattern. By contrast, Germany (-7.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland, Spain and Lithuania increased by +7.4, +2.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X), Germany ($X) and Spain ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 86% share of total exports.

Spain, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per unit, picking up by 1.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 27% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.1%), while the other leaders experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports in the EU

In 2021, balancing mechanical parts machine imports in the European Union soared to X units, growing by 23% on the previous year's figure. The total import volume increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Germany represented the key importing country with an import of around X units, which reached 31% of total imports. It was distantly followed by Poland (X units), France (X units), Spain (X units) and Italy (X units), together committing a 33% share of total imports. Romania (X units), Sweden (X units), the Czech Republic (X units), the Netherlands (X units), Portugal (X units), Belgium (X units), Lithuania (X units) and Hungary (X units) followed a long way behind the leaders.

Imports into Germany increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, Poland (+18.9%), Portugal (+16.3%), the Netherlands (+10.7%), Lithuania (+9.9%), Romania (+6.6%), the Czech Republic (+4.9%), Sweden (+4.7%), Belgium (+2.1%), France (+2.1%) and Hungary (+1.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +18.9% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, Spain (-3.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland, Portugal and the Netherlands increased by +10, +2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported machines for balancing mechanical parts in the European Union, comprising 27% of total imports. The second position in the ranking was held by France ($X), with an 8.9% share of total imports. It was followed by Poland, with an 8.3% share.

In Germany, balancing mechanical parts machine imports contracted by an average annual rate of -2.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: France (-5.9% per year) and Poland (+9.4% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2021, flattening at the previous year. In general, the import price, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 an increase of 7.1%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while Lithuania ($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 (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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