Ireland: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Ireland

In 2021, the Irish gear cutting machine market decreased by -75% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, recorded a significant increase. Over the period under review, the market reached the maximum level at $X in 2020, and then declined significantly in the following year.

Gear Cutting Machine Production in Ireland

In value terms, gear cutting machine production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports from Ireland

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Ireland skyrocketed to X units, jumping by 200% against 2020 figures. In general, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by 450% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gear cutting machine exports contracted dramatically to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 32,007%. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

The UK (X units) was the main destination for gear cutting machine exports from Ireland, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled -10.5%.

In value terms, the UK ($X) also remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Ireland.

From 2012 to 2021, the average annual growth rate of value to the UK stood at -7.7%.

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, with a decrease of -99.8% against the previous year. Over the period under review, the export price continues to indicate a mild downturn. The pace of growth was the most pronounced in 2020 an increase of 44,047%. As a result, the export price reached the peak level of $X per unit, and then declined markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to +3.0% per year.

Gear Cutting Machine Imports

Imports into Ireland

In 2021, after two years of growth, there was significant decline in overseas purchases of gear cutting, gear grinding or gear finishing machines, when their volume decreased by -77.5% to X units. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,926%. Over the period under review, imports hit record highs at X units in 2020, and then dropped notably in the following year.

In value terms, gear cutting machine imports declined rapidly to $X in 2021. In general, imports, however, enjoyed slight growth. The pace of growth was the most pronounced in 2014 when imports increased by 155% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X units), the UK (X units) and the Netherlands (X units) were the main suppliers of gear cutting machine imports to Ireland, together comprising 77% of total imports. These countries were followed by the United States, Germany and Poland, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +67.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Italy ($X) and the Netherlands ($X) constituted the largest gear cutting machine suppliers to Ireland, with a combined 84% share of total imports. The United States, Germany and Poland lagged somewhat behind, together accounting for a further 7.3%.

Among the main suppliers, Germany, with a CAGR of +7.6%, recorded 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 gear cutting machine import price amounted to $X per unit, increasing by 80% against the previous year. Over the period under review, the import price, however, continues to indicate a significant decline. The pace of growth was the most pronounced in 2018 when the average import price increased by 3,038%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+101.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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