Luxembourg: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Luxembourg

For the fourth consecutive year, the Luxembourg balancing mechanical parts machine market recorded decline in sales value, which decreased by -29.1% to $X in 2021. In general, consumption faced a significant decline. Balancing mechanical parts machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in Luxembourg

In value terms, balancing mechanical parts machine production reduced sharply to $X in 2021 estimated in export price. Overall, production, however, posted a significant expansion. Over the period under review, production hit record highs at $X in 2020, and then declined remarkably in the following year.

Exports of Machines For Balancing Mechanical Parts

Exports from Luxembourg

After three years of growth, overseas shipments of machines for balancing mechanical parts decreased by -71% to X units in 2021. In general, exports, however, posted a notable expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 382%. The exports peaked at X units in 2020, and then reduced sharply in the following year.

In value terms, balancing mechanical parts machine exports dropped sharply to $X in 2021. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 504%. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

France (X units) was the main destination for balancing mechanical parts machine exports from Luxembourg, with a 74% share of total exports. Moreover, balancing mechanical parts machine exports to France exceeded the volume sent to the second major destination, Oman (X units), threefold. The third position in this ranking was held by Germany (X units), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France totaled +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (0.0% per year) and Germany (+18.7% per year).

In value terms, the largest markets for balancing mechanical parts machine exported from Luxembourg were Oman ($X), France ($X) and the UK ($X), with a combined 97% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +38.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, reducing by -46.3% against the previous year. Overall, the export price showed a deep setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 101% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Belgium ($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 UK (-9.4%), while the prices for the other major destinations experienced a decline.

Imports of Machines For Balancing Mechanical Parts

Imports into Luxembourg

After two years of growth, supplies from abroad of machines for balancing mechanical parts decreased by -67.6% to X units in 2021. Overall, imports saw a dramatic shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 361%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports declined rapidly to $X in 2021. In general, imports faced a abrupt descent. The growth pace was the most rapid in 2019 when imports increased by 82% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X units), Italy (X units) and Germany (X units) were the main suppliers of balancing mechanical parts machine imports to Luxembourg, with a combined 91% share of total imports. These countries were followed by the UK and Bosnia and Herzegovina, which together accounted for a further 9.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +2.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Germany ($X) and Belgium ($X) constituted the largest balancing mechanical parts machine suppliers to Luxembourg, with a combined 90% share of total imports. The UK and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 9.1%.

The UK, with a CAGR of +20.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, rising by 96% against the previous year. Overall, the import price enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 181% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Bosnia and Herzegovina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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