Indonesia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Indonesia

The Indonesian balancing mechanical parts machine market contracted rapidly to $X in 2021, declining by -26.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Indonesia

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -40.9% to X units, falling for the third consecutive year after two years of growth. Overall, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2015 when exports increased by 426%. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports fell markedly to $X in 2021. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 561%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X units), Malaysia (X units) and Singapore (X units) were the main destinations of balancing mechanical parts machine exports from Indonesia, with a combined 89% share of total exports. These countries were followed by Hong Kong SAR, Thailand, Mexico, China, Vietnam and South Korea, which together accounted for a further 10%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +8.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for balancing mechanical parts machine exported from Indonesia were Japan ($X), Singapore ($X) and Malaysia ($X), together comprising 81% of total exports.

In terms of the main countries of destination, Malaysia, with a CAGR of +11.1%, saw the highest rates of growth with regard to 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

The average balancing mechanical parts machine export price stood at $X per unit in 2021, increasing by 12% against the previous year. In general, the export price saw prominent growth. The growth pace was the most rapid in 2019 when the average export price increased by 217%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+37.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Indonesia

In 2021, imports of machines for balancing mechanical parts into Indonesia reduced to X units, which is down by -10.4% against 2020. Overall, imports recorded a noticeable decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 39% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports fell notably to $X in 2021. In general, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 36%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of balancing mechanical parts machine to Indonesia, accounting for a 58% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sevenfold. South Korea (X units) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+17.3% per year) and South Korea (-18.1% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) were the largest balancing mechanical parts machine suppliers to Indonesia, together accounting for 67% of total imports. These countries were followed by Germany, Singapore, the United States, Thailand, Italy, Malaysia and India, which together accounted for a further 22%.

In terms of the main suppliers, Malaysia, with a CAGR of +23.1%, saw the highest rates of growth with regard to 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

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, which is down by -30.5% against the previous year. Overall, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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