Italy: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Italy

In 2021, the Italian gear cutting machine market decreased by -46.9% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded a pronounced reduction. Gear cutting machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Production in Italy

In value terms, gear cutting machine production plummeted to $X in 2021 estimated in export price. Over the period under review, production faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 87% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Gear Cutting Machine Exports

Exports from Italy

In 2021, gear cutting machine exports from Italy surged to X units, with an increase of 423% against 2020. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 639%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, gear cutting machine exports shrank to $X in 2021. Overall, exports, however, recorded a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 86%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Afghanistan (X units) was the main destination for gear cutting machine exports from Italy, accounting for a 89% share of total exports. Moreover, gear cutting machine exports to Afghanistan exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. India (X units) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2021, the average annual growth rate of volume to Afghanistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+40.5% per year) and India (-5.1% per year).

In value terms, China ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Italy, comprising 47% of total exports. The second position in the ranking was taken by India ($X), with a 7.3% share of total exports. It was followed by Mexico, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-10.9% per year) and Mexico (+28.2% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, declining by -81.6% against the previous year. Over the period under review, the export price continues to indicate a significant decrease. The pace of growth appeared the most rapid in 2019 when the average export price increased by 1,007% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Afghanistan ($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 the United States (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Italy

In 2021, imports of gear cutting, gear grinding or gear finishing machines into Italy skyrocketed to X units, increasing by 1,845% compared with 2020 figures. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 2,185% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, gear cutting machine imports expanded modestly to $X in 2021. Over the period under review, imports, however, recorded a slight descent. The growth pace was the most rapid in 2017 when imports increased by 28%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), China (X units) and Switzerland (X units) were the main suppliers of gear cutting machine imports to Italy, together accounting for 62% of total imports. The United States, Ireland, Tunisia and the UK lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Tunisia (with a CAGR of +110.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Italy, comprising 66% of total imports. The second position in the ranking was held by Switzerland ($X), with a 25% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+10.4% per year) and the United States (-11.5% per year).

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, with a decrease of -94.7% against the previous year. Overall, the import price continues to indicate a sharp curtailment. The pace of growth was the most pronounced in 2020 an increase of 538%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-26.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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