Ireland: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in Ireland

In 2021, the Irish metal honing machine market increased by 654% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Honing Machine Production in Ireland

In value terms, metal honing machine production rose markedly to $X in 2021 estimated in export price. Overall, the total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -35.9% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 60% against the previous year. Metal honing machine production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Metal Honing Machine Exports

Exports from Ireland

In 2021, shipments abroad of honing or lapping machines for working metal decreased by -85.7% to X units, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 1,300%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal honing machine exports shrank dramatically to $X in 2021. In general, exports recorded a dramatic shrinkage. The growth pace was the most rapid in 2019 with an increase of 460%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

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

From 2012 to 2021, the average annual growth rate of volume to the UK totaled -14.3%.

In value terms, the UK ($X) emerged as the key foreign market for honing or lapping machines for working metal exports from Ireland.

From 2012 to 2021, the average annual growth rate of value to the UK totaled -30.3%.

Export Prices by Country

In 2021, the average metal honing machine export price amounted to $X per unit, dropping by -49.1% against the previous year. In general, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by 309%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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 United States amounted to +10.2% per year.

Metal Honing Machine Imports

Imports into Ireland

In 2021, supplies from abroad of honing or lapping machines for working metal increased by 608% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2018 with an increase of 9,445% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, metal honing machine imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 11,582% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the UK (X units) and Canada (X units) were the main suppliers of metal honing machine imports to Ireland, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +60.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) constituted the largest supplier of honing or lapping machines for working metal to Ireland, comprising 83% of total imports. The second position in the ranking was taken by the UK ($X), with a 13% share of total imports. It was followed by the United States, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+39.5% per year) and the United States (+54.5% per year).

Import Prices by Country

The average metal honing machine import price stood at $X per unit in 2021, jumping by 65% against the previous year. In general, the import price, however, continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2019 an increase of 1,316% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1,064.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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