EU: Working Wire Machine Market 2024

Working Wire Machine Market Size in the EU

The EU working wire machine market skyrocketed to $X in 2021, jumping by 23% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Working Wire Machine Production in the EU

In value terms, working wire machine production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Working Wire Machine Exports

Exports in the EU

In 2021, shipments abroad of machines for working wire was finally on the rise to reach X units after two years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 155%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports soared to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Italy represented the major exporting country with an export of about X units, which accounted for 51% of total exports. Belgium (X units) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Spain (7.1%) and Poland (5.5%). Austria (X units), Denmark (X units), Greece (X units) and Sweden (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to working wire machine exports from Italy stood at -3.8%. At the same time, Sweden (+29.5%), Belgium (+25.0%), Poland (+22.7%), Spain (+10.8%), Greece (+8.3%) and Denmark (+6.8%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +29.5% from 2012-2021. By contrast, Austria (-1.4%) illustrated a downward trend over the same period. While the share of Belgium (+12 p.p.), Poland (+4.6 p.p.), Spain (+4.1 p.p.) and Sweden (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Italy (-25.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest working wire machine supplier in the European Union, comprising 45% of total exports. The second position in the ranking was taken by Austria ($X), with a 17% share of total exports. It was followed by Denmark, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Italy totaled +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Austria (+4.7% per year) and Denmark (+2.1% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per unit, with an increase of 6.5% against the previous year. Over the period under review, the export price continues to indicate modest growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 267% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Working Wire Machine Imports

Imports in the EU

Working wire machine imports surged to X units in 2021, increasing by 112% compared with 2020. Overall, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports skyrocketed to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X units) represented the largest importer of machines for working wire, generating 46% of total imports. It was distantly followed by Italy (X units), Belgium (X units), Germany (X units) and France (X units), together constituting a 35% share of total imports. Cyprus (X units) and Poland (X units) held a relatively small share of total imports.

Imports into Spain increased at an average annual rate of +30.8% from 2012 to 2021. At the same time, Cyprus (+69.0%), Italy (+18.0%), Poland (+11.3%) and Germany (+7.9%) displayed positive paces of growth. Moreover, Cyprus emerged as the fastest-growing importer imported in the European Union, with a CAGR of +69.0% from 2012-2021. France experienced a relatively flat trend pattern. By contrast, Belgium (-5.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Spain, Italy and Cyprus increased by +36, +6.8 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest working wire machine importing markets in the European Union were Germany ($X), Italy ($X) and Poland ($X), together comprising 54% of total imports. These countries were followed by France, Spain, Belgium and Cyprus, which together accounted for a further 11%.

In terms of the main importing countries, Cyprus, with a CAGR of +109.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2021, waning by -26.2% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 97% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 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 Poland ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cyprus (+24.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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