Italy: Working Wire Machine Market 2024

Working Wire Machine Market Size in Italy

After two years of growth, the Italian working wire machine market decreased by -63.1% to $X in 2021. Overall, consumption recorded a abrupt decline. Working wire machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Working Wire Machine Production in Italy

In value terms, working wire machine production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 107%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Working Wire Machine Exports

Exports from Italy

After two years of decline, overseas shipments of machines for working wire increased by 40% to X units in 2021. Over the period under review, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, working wire machine exports surged to $X in 2021. In general, exports saw a modest expansion. The growth pace was the most rapid in 2018 when exports increased by 76% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X units), Brazil (X units) and India (X units) were the main destinations of working wire machine exports from Italy, with a combined 32% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +24.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and China ($X) were the largest markets for working wire machine exported from Italy worldwide, with a combined 25% share of total exports.

Turkey, with a CAGR of +27.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, growing by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.1%. The growth pace was the most rapid in 2014 when the average export price increased by 17% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Austria ($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 Germany (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Italy

In 2021, imports of machines for working wire into Italy soared to X units, with an increase of 274% against the previous year's figure. Over the period under review, imports continue to indicate strong growth. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. In general, imports enjoyed prominent growth. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X units), Germany (X units) and China (X units) were the main suppliers of working wire machine imports to Italy, together accounting for 50% of total imports. These countries were followed by the Czech Republic, New Zealand, Turkey, Denmark, Poland, Switzerland, Tunisia, the United States and Taiwan (Chinese), which together accounted for a further 44%.

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 +491.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machines for working wire to Italy, comprising 52% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 13% share of total imports. It was followed by Denmark, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+44.2% per year) and Denmark (+14.3% per year).

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2021, falling by -19.5% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 90%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood 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 Germany ($X per unit), while the price for New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+85.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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