Pakistan: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Pakistan

In 2021, the Pakistani gear cutting machine market increased by 92% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a moderate expansion. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Gear Cutting Machine Exports

Exports from Pakistan

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Pakistan surged to X units, jumping by 500% on 2020 figures. Over the period under review, exports, however, saw a precipitous setback. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, gear cutting machine exports soared to $X in 2021. Overall, exports, however, showed a significant contraction. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Tanzania (X units), Oman (X units) and Ethiopia (X units) were the main destinations of gear cutting machine exports from Pakistan, with a combined 67% share of total exports. Moreover, gear cutting machine exports in Tanzania exceeded the figures recorded by the second-largest exporter, Oman, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tanzania (with a CAGR of -9.7%), while the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Pakistan, comprising 53% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 20% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at -23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-8.3% per year) and Saudi Arabia (-22.5% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, which is down by -26.6% against the previous year. Overall, the export price saw a mild contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 896% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Bahrain ($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 United Arab Emirates (+2.2%), while the prices for the other major destinations experienced mixed trend patterns.

Gear Cutting Machine Imports

Imports into Pakistan

In 2021, overseas purchases of gear cutting, gear grinding or gear finishing machines increased by 122% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, showed a perceptible descent. The growth pace was the most rapid in 2017 when imports increased by 137%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, gear cutting machine imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a notable increase. The pace of growth was the most pronounced in 2017 with an increase of 97% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest supplier of gear cutting machine to Pakistan, accounting for a 46% share of total imports. Moreover, gear cutting machine imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was taken by China (X units), with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume from the UK stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.4% per year) and China (+24.4% per year).

In value terms, the largest gear cutting machine suppliers to Pakistan were the UK ($X), the United States ($X) and China ($X), together comprising 76% of total imports.

China, with a CAGR of +76.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, with a decrease of -16.4% against the previous year. Overall, the import price, however, saw strong growth. The pace of growth appeared the most rapid in 2019 an increase of 57% against the previous year. The import price peaked at $X per unit in 2020, and then declined significantly in the following year.

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 the Czech Republic ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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