Luxembourg: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Luxembourg

The Luxembourg machine-tool for drilling market contracted markedly to $X in 2022, which is down by -32.5% 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). Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Exports

Exports from Luxembourg

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal decreased by -26.5% to X units, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when exports increased by 446%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, machine-tool for drilling exports soared to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for machine-tool for drilling exports from Luxembourg, with a 56% share of total exports. Moreover, machine-tool for drilling exports to Belgium exceeded the volume sent to the second major destination, the UK (X units), fourfold. Spain (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium totaled +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+49.5% per year) and Spain (+41.4% per year).

In value terms, Spain ($X) emerged as the key foreign market for machine-tools for drilling, boring or milling metal exports from Luxembourg, comprising 58% of total exports. The second position in the ranking was held by Belgium ($X), with a 20% share of total exports. It was followed by Switzerland, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at +2,672.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+20.6% per year) and Switzerland (+12.8% per year).

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, rising by 542% against the previous year. Over the period under review, the export price enjoyed a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to China ($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 Spain (+1,860.1%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Luxembourg

Machine-tool for drilling imports into Luxembourg declined significantly to X units in 2022, with a decrease of -51.3% against 2021 figures. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 100%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, machine-tool for drilling imports skyrocketed to $X in 2022. In general, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when imports increased by 107%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest machine-tool for drilling supplier to Luxembourg, with a 63% share of total imports. Moreover, machine-tool for drilling imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+124.3% per year) and Belgium (-0.4% per year).

In value terms, Germany ($X), Belgium ($X) and Taiwan (Chinese) ($X) constituted the largest machine-tool for drilling suppliers to Luxembourg, with a combined 35% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +70.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, increasing by 317% against the previous year. In general, the import price posted a modest increase. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, 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 Belgium ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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