Indonesia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Indonesia

In 2022, the Indonesian grinding and sharpening machine market increased by 50% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Indonesia

In 2022, approx. X units of grinding and sharpening metal finishing machines were exported from Indonesia; with an increase of 31% on the previous year. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 464% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, grinding and sharpening machine exports rose to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 208%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for grinding and sharpening machine exports from Indonesia, with a 90% share of total exports. Moreover, grinding and sharpening machine exports to Thailand exceeded the volume sent to the second major destination, China (X units), more than tenfold. Japan (X units) ranked third in terms of total exports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+47.0% per year) and Japan (-7.7% per year).

In value terms, Thailand ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Indonesia, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 5.9% share of total exports. It was followed by China, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to Thailand stood at +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-17.2% per year) and China (+60.7% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, which is down by -20.2% against the previous year. In general, the export price faced a deep reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 126% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.3%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Indonesia

In 2022, imports of grinding and sharpening metal finishing machines into Indonesia surged to X units, growing by 42% on 2021 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 118% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and Singapore (X units) were the main suppliers of grinding and sharpening machine imports to Indonesia, with a combined 41% share of total imports. The United States, Taiwan (Chinese), Australia and Germany lagged somewhat behind, together accounting for a further 5.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +38.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Indonesia, comprising 84% of total imports. The second position in the ranking was taken by China ($X), with a 3.9% share of total imports. It was followed by Taiwan (Chinese), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.1% per year) and Taiwan (Chinese) (-11.8% per year).

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, with an increase of 12% against the previous year. In general, the import price, however, saw a mild slump. The growth pace was the most rapid in 2020 when the average import price increased by 95% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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