Europe: Working Wire Machine Market 2024

Working Wire Machine Market Size in Europe

The Europe working wire machine market soared to $X in 2021, rising by 21% against the previous year. Overall, consumption, however, saw a noticeable setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Working Wire Machine Production in Europe

In value terms, working wire machine production rose slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 11%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Working Wire Machine Exports

Exports in Europe

Working wire machine exports reduced markedly to X units in 2021, waning by -69.6% against the previous year's figure. Over the period under review, exports saw a noticeable descent. The pace of growth was the most pronounced in 2014 with an increase of 205% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, working wire machine exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Italy (X units) represented the key exporter of machines for working wire, committing 41% of total exports. It was distantly followed by the UK (X units), Belgium (X units) and Spain (X units), together constituting a 31% share of total exports. Poland (X units), Switzerland (X units), Austria (X units), Denmark (X units), Greece (X units) and Sweden (X units) followed a long way behind the leaders.

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%), Denmark (+6.8%) and Switzerland (+3.3%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Europe, with a CAGR of +29.5% from 2012-2021. By contrast, Austria (-1.4%) and the UK (-13.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium, Spain, Poland, Sweden and Denmark increased by +10, +4, +3.9, +1.7 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest working wire machine supplier in Europe, comprising 36% of total exports. The second position in the ranking was held by Switzerland ($X), with a 16% share of total exports. It was followed by Austria, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Italy stood at +1.1%. In the other countries, the average annual rates were as follows: Switzerland (-2.3% per year) and Austria (+4.7% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per unit, jumping by 401% against the previous year. Over the period under review, the export price enjoyed a measured increase. As a result, the export price attained the peak level 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 Switzerland ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+9.1%), while the other leaders experienced more modest paces of growth.

Working Wire Machine Imports

Imports in Europe

In 2021, imports of machines for working wire in Europe soared to X units, growing by 97% against the previous year. Over the period under review, imports, however, faced a dramatic decline. The pace of growth appeared the most rapid in 2015 with an increase of 313%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain was the largest importing country with an import of about X units, which amounted to 37% of total imports. The UK (X units) ranks second in terms of the total imports with a 14% share, followed by Italy (13%), Belgium (7.1%) and Germany (4.9%). The following importers - France (X units), Russia (X units), Poland (X units), Norway (X units), Portugal (X units) and Albania (X units) - together made up 13% of total imports.

Imports into Spain increased at an average annual rate of +30.8% from 2012 to 2021. At the same time, Norway (+49.7%), Albania (+30.0%), Italy (+18.0%), Poland (+11.3%), Portugal (+9.6%) and Germany (+7.9%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Europe, with a CAGR of +49.7% from 2012-2021. France experienced a relatively flat trend pattern. By contrast, Belgium (-5.1%), Russia (-5.8%) and the UK (-37.1%) illustrated a downward trend over the same period. While the share of Spain (+37 p.p.), Italy (+12 p.p.), Belgium (+5.9 p.p.), Germany (+4.6 p.p.), France (+3.4 p.p.), Poland (+1.8 p.p.), Russia (+1.7 p.p.), Norway (+1.6 p.p.) and Albania (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the UK (-81.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest working wire machine importing markets in Europe were Germany ($X), Italy ($X) and Poland ($X), together comprising 41% of total imports. These countries were followed by Russia, the UK, France, Portugal, Spain, Belgium, Albania and Norway, which together accounted for a further 26%.

Norway, with a CAGR of +73.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, with a decrease of -25.9% against the previous year. Over the period under review, the import price, however, posted a significant expansion. The pace of growth was the most pronounced in 2014 when the import price increased by 1,092%. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 the UK (+64.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform