Japan: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Japan

The Japanese grinding and sharpening machine market reached $X in 2022, surging by 5.4% against the previous year. Over the period under review, consumption recorded a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Japan

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. In general, production, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2016 with an increase of 11%. Grinding and sharpening machine production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Japan

Grinding and sharpening machine exports from Japan fell to X units in 2022, shrinking by -8.6% on 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 34%. Over the period under review, the exports reached the peak figure at X units in 2021, and then declined in the following year.

In value terms, grinding and sharpening machine exports dropped significantly to $X in 2022. In general, exports showed a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 34% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Indonesia (X units) and China (X units) were the main destinations of grinding and sharpening machine exports from Japan, together comprising 71% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +23.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Japan, comprising 41% of total exports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total exports. It was followed by Vietnam, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-27.0% per year) and Vietnam (-14.2% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, with a decrease of -10.8% against the previous year. Overall, the export price saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 28%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Luxembourg ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-6.6%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Japan

In 2022, purchases abroad of grinding and sharpening metal finishing machines was finally on the rise to reach X units for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, continue to indicate a perceptible curtailment. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports skyrocketed to $X in 2022. Overall, imports, however, showed a abrupt slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of grinding and sharpening machine to Japan, accounting for a 69% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. The third position in this ranking was taken by the United States (X units), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +65.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-19.8% per year) and the United States (-12.3% per year).

In value terms, Thailand ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest grinding and sharpening machine suppliers to Japan, together comprising 48% of total imports.

China, with a CAGR of +11.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, with a decrease of -49% against the previous year. In general, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by 65%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+37.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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