Ireland: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Ireland

The Irish machine-tool for working metal market soared to $X in 2021, picking up by 35% 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). In general, consumption enjoyed prominent growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Exports of Machine Tools For Working Metal

Exports from Ireland

In 2021, machine-tool for working metal exports from Ireland soared to X units, jumping by 51% against 2020. Overall, exports posted prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 216% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, machine-tool for working metal exports soared to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 90% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for machine-tool for working metal exports from Ireland, with a 69% share of total exports. Moreover, machine-tool for working metal exports to the UK exceeded the volume sent to the second major destination, Hungary (X units), fivefold. The third position in this ranking was taken by Canada (X units), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+15.6% per year) and Canada (+43.3% per year).

In value terms, the UK ($X) remains the key foreign market for machine tools for working metal exports from Ireland, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by Hungary, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.2% per year) and Hungary (+40.7% per year).

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, falling by -9.8% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Poland ($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 Russia (+1,745.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Ireland

In 2021, approx. X units of machine tools for working metal were imported into Ireland; jumping by 18% on the year before. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 66% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, machine-tool for working metal imports soared to $X in 2021. Over the period under review, imports saw a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 58%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Turkey (X units) constituted the largest supplier of machine-tool for working metal to Ireland, with a 45% share of total imports. Moreover, machine-tool for working metal imports from Turkey exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.4% per year) and Germany (+24.7% per year).

In value terms, Germany ($X), the UK ($X) and Turkey ($X) were the largest machine-tool for working metal suppliers to Ireland, together accounting for 64% of total imports. These countries were followed by the United States, Austria, Italy, China and Taiwan (Chinese), which together accounted for a further 25%.

Austria, with a CAGR of +24.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, surging by 25% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 26% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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