Malaysia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Malaysia

The Malaysian balancing mechanical parts machine market shrank sharply to $X in 2021, declining by -49.9% against the previous year. Overall, consumption saw a abrupt decline. Balancing mechanical parts machine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Machines For Balancing Mechanical Parts in Malaysia

In value terms, balancing mechanical parts machine production fell significantly to $X in 2021 estimated in export price. Overall, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 874% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Malaysia

Balancing mechanical parts machine exports from Malaysia soared to X units in 2021, rising by 176% compared with 2020. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 462% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. Overall, exports saw a moderate increase. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for balancing mechanical parts machine exports from Malaysia, with a 79% share of total exports. Moreover, balancing mechanical parts machine exports to Japan exceeded the volume sent to the second major destination, Singapore (X units), sevenfold. The third position in this ranking was held by the Philippines (X units), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +94.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+7.8% per year) and the Philippines (-6.0% per year).

In value terms, Japan ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Malaysia, comprising 71% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.2% share of total exports. It was followed by Singapore, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-1.7% per year) and Singapore (+6.8% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, jumping by 58% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per unit), while the average price for exports to Singapore ($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 Netherlands (+18.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machines For Balancing Mechanical Parts

Imports into Malaysia

Balancing mechanical parts machine imports into Malaysia surged to X units in 2021, jumping by 99% on 2020. Over the period under review, imports showed a mild increase. The most prominent rate of growth was recorded in 2017 with an increase of 214%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 134% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of balancing mechanical parts machine to Malaysia, with a 57% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+13.0% per year) and Germany (+35.2% per year).

In value terms, China ($X), the United States ($X) and Singapore ($X) were the largest balancing mechanical parts machine suppliers to Malaysia, together accounting for 69% of total imports. These countries were followed by Germany, Italy, Japan, Thailand and Taiwan (Chinese), which together accounted for a further 28%.

Among the main suppliers, Germany, with a CAGR of +22.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, stabilizing at the previous year. Over the period under review, the import price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 41%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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