Europe: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Europe

In 2021, the Europe balancing mechanical parts machine market increased by 4.3% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a relatively flat trend pattern. 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 Europe

In value terms, balancing mechanical parts machine production reached $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 16%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Europe

In 2021, shipments abroad of machines for balancing mechanical parts was finally on the rise to reach X units after three years of decline. Overall, exports, however, showed a noticeable shrinkage. The volume of export 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 rose rapidly to $X in 2021. Over the period under review, exports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Italy was the largest exporter of machines for balancing mechanical parts in Europe, with the volume of exports reaching X units, which was approx. 52% of total exports in 2021. Germany (X units) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Poland (8.2%). The following exporters - Spain (X units), Lithuania (X units), the UK (X units) and Hungary (X units) - together made up 9.4% 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 Europe, with a CAGR of +21.1% from 2012-2021. The UK and Hungary experienced a relatively flat trend pattern. By contrast, Germany (-7.9%) illustrated a downward trend over the same period. While the share of Poland (+7.1 p.p.), Spain (+2.3 p.p.) and Lithuania (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Italy (-2.1 p.p.) and Germany (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest balancing mechanical parts machine supplying countries in Europe were Italy ($X), Germany ($X) and the UK ($X), with a combined 79% share of total exports. Spain, Poland, Lithuania and Hungary lagged somewhat behind, together comprising a further 8.8%.

Among the main exporting countries, Spain, with a CAGR of +14.6%, saw the highest growth rate of the value of exports, 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 Europe amounted to $X per unit, remaining constant against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 27% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while Lithuania ($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 Europe

Balancing mechanical parts machine imports soared to X units in 2021, with an increase of 24% against the year before. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable 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 skyrocketed to $X in 2021. Overall, imports, however, recorded a slight decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units), distantly followed by Poland (X units), the UK (X units), France (X units) and Spain (X units) were the major importers of machines for balancing mechanical parts, together making up 59% of total imports. The following importers - Italy (X units), Romania (X units), Ukraine (X units), Sweden (X units), the Czech Republic (X units), the Netherlands (X units), Portugal (X units) and Belgium (X units) - together made up 26% of total imports.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine imports into Germany stood at +1.9%. At the same time, Poland (+18.9%), Portugal (+16.3%), the Netherlands (+10.7%), Romania (+6.6%), the UK (+5.7%), the Czech Republic (+4.9%), Sweden (+4.7%), Ukraine (+2.4%), Belgium (+2.1%) and France (+2.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, 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. While the share of Poland (+8.9 p.p.) and Portugal (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Italy (-1.9 p.p.), Germany (-4.7 p.p.) and Spain (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported machines for balancing mechanical parts in Europe, comprising 20% of total imports. The second position in the ranking was held by the UK ($X), with an 8.1% share of total imports. It was followed by France, with a 6.7% share.

In Germany, balancing mechanical parts machine imports shrank 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: the UK (-0.3% per year) and France (-5.9% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, with an increase of 1.7% against the previous year. Over the period under review, the import price, however, showed a pronounced contraction. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Italy ($X per unit), while Ukraine ($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