Malaysia: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Malaysia

In 2021, the Malaysian wood bending machine market increased by 366% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a drastic downturn. Wood bending machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wood Bending Machine Production in Malaysia

In value terms, wood bending machine production stood at $X in 2021 estimated in export price. Over the period under review, production saw a dramatic descent. The most prominent rate of growth was recorded in 2020 when the production volume decreased by 99.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wood Bending Machine Exports

Exports from Malaysia

In 2021, approx. X units of bending or assembling machines were exported from Malaysia; rising by 81% compared with 2020 figures. In general, exports, however, showed a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of 363% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wood bending machine exports surged to $X in 2021. Overall, exports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2016 when exports increased by 835% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X units) was the main destination for wood bending machine exports from Malaysia, accounting for a 86% share of total exports. Moreover, wood bending machine exports to Australia exceeded the volume sent to the second major destination, Hong Kong SAR (X units), more than tenfold. China (X units) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-31.5% per year) and China (+10.4% per year).

In value terms, Australia ($X) remains the key foreign market for bending or assembling machines exports from Malaysia, comprising 82% of total exports. The second position in the ranking was taken by Thailand ($X), with a 6.1% share of total exports. It was followed by China, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +112.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+10.2% per year) and China (+12.0% per year).

Export Prices by Country

The average wood bending machine export price stood at $X per unit in 2021, declining by -16.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 92%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Brunei Darussalam ($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 Australia (+1.0%), while the prices for the other major destinations experienced a decline.

Wood Bending Machine Imports

Imports into Malaysia

After two years of decline, purchases abroad of bending or assembling machines increased by 118% to X units in 2021. In general, imports, however, faced a deep contraction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, wood bending machine imports soared to $X in 2021. Over the period under review, imports, however, showed a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest wood bending machine supplier to Malaysia, accounting for a 65% share of total imports. Moreover, wood bending machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. The third position in this ranking was held by Singapore (X units), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.1% per year) and Singapore (-26.5% per year).

In value terms, the largest wood bending machine suppliers to Malaysia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 68% of total imports. These countries were followed by Italy, Singapore, Japan and the United States, which together accounted for a further 10%.

Italy, with a CAGR of +12.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average wood bending machine import price amounted to $X per unit, with an increase of 27% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 28%. The import price peaked at $X per unit in 2016; however, from 2017 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 South Korea ($X per unit), while the price for the United States ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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