New Zealand: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in New Zealand

In 2021, the New Zealand balancing mechanical parts machine market increased by 81% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a slight expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Machines For Balancing Mechanical Parts

Exports from New Zealand

In 2021, the amount of machines for balancing mechanical parts exported from New Zealand reduced remarkably to X units, waning by -64.5% against the previous year. In general, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when exports increased by 249%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports contracted markedly to $X in 2021. Overall, exports, however, continue to indicate a slight expansion. The growth pace was the most rapid in 2018 when exports increased by 288% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X units), the United States (X units) and Pakistan (X units) were the main destinations of balancing mechanical parts machine exports from New Zealand, together comprising 68% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +55.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for balancing mechanical parts machine exported from New Zealand were Pakistan ($X), the UK ($X) and Nigeria ($X), with a combined 82% share of total exports.

Among the main countries of destination, the UK, with a CAGR of +128.7%, recorded the highest rates of growth with regard to 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, surging by 90% against the previous year. In general, the export price recorded a significant increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 122% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Samoa (+184.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into New Zealand

In 2021, the amount of machines for balancing mechanical parts imported into New Zealand skyrocketed to X units, jumping by 25% on the previous year. Over the period under review, imports, however, continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 43%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Overall, imports recorded tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and the United States (X units) were the main suppliers of balancing mechanical parts machine imports to New Zealand, with a combined 87% share of total imports. These countries were followed by Germany and Australia, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of machines for balancing mechanical parts to New Zealand, comprising 58% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.2% per year) and the United States (+9.6% per year).

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, jumping by 45% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, balancing mechanical parts machine import price increased by +61.5% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per unit), while the price for the United States ($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 (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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