Luxembourg: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Luxembourg

In 2022, the Luxembourg grinding and sharpening machine market decreased by -20.3% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, enjoyed buoyant growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Luxembourg

In 2022, grinding and sharpening machine exports from Luxembourg dropped remarkably to X units, shrinking by -99.1% compared with the year before. Over the period under review, exports recorded a mild decline. The pace of growth appeared the most rapid in 2021 with an increase of 5,998% against the previous year. As a result, the exports reached the peak of X units, and then contracted markedly in the following year.

In value terms, grinding and sharpening machine exports surged to $X in 2022. In general, exports, however, showed a temperate expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 1,730%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Belgium (X units) was the main destination for grinding and sharpening machine exports from Luxembourg, with a 80% share of total exports. Moreover, grinding and sharpening machine exports to Belgium exceeded the volume sent to the second major destination, Germany (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Belgium stood at -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+31.1% per year) and France (+9.6% per year).

In value terms, Germany ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Luxembourg, comprising 99% of total exports. The second position in the ranking was held by Belgium ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +185.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+1.9% per year) and France (+13.5% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, growing by 57,842% against the previous year. Over the period under review, the export price enjoyed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Belgium ($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 Germany (+117.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Luxembourg

In 2022, approx. X units of grinding and sharpening metal finishing machines were imported into Luxembourg; with an increase of 11% compared with 2021. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 419%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, grinding and sharpening machine imports declined markedly to $X in 2022. Overall, imports, however, saw a slight decline. The growth pace was the most rapid in 2014 when imports increased by 949% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest grinding and sharpening machine supplier to Luxembourg, with a 73% share of total imports. Moreover, grinding and sharpening machine imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The third position in this ranking was held by Belgium (X units), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +79.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.3% per year) and Belgium (+7.5% per year).

In value terms, the largest grinding and sharpening machine suppliers to Luxembourg were Germany ($X), Italy ($X) and Sweden ($X), together comprising 82% of total imports.

Sweden, with a CAGR of +176.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, with a decrease of -35.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2014 an increase of 887%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+138.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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