Pakistan: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Pakistan

The Pakistani grinding and sharpening machine market contracted sharply to $X in 2022, with a decrease of -43.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a deep reduction. Grinding and sharpening machine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Pakistan

Grinding and sharpening machine exports from Pakistan fell remarkably to X units in 2022, reducing by -32.5% against 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 76% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports shrank to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 183%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Iran (X units), Saudi Arabia (X units) and the United Arab Emirates (X units) were the main destinations of grinding and sharpening machine exports from Pakistan, together accounting for 76% of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +45.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Pakistan, comprising 65% of total exports. The second position in the ranking was held by Iran ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Nigeria amounted to -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+49.6% per year) and the United Arab Emirates (-2.6% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, picking up by 29% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 109% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (+56.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Pakistan

Grinding and sharpening machine imports into Pakistan fell markedly to X units in 2022, with a decrease of -41.9% compared with 2021. In general, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 275% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine imports reduced markedly to $X in 2022. Over the period under review, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 205%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Pakistan, with a 47% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-5.5% per year) and Taiwan (Chinese) (-2.9% per year).

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Pakistan, comprising 44% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.0% per year) and Taiwan (Chinese) (-9.7% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, reducing by -3% against the previous year. Overall, the import price, however, saw a pronounced increase. The pace of growth was the most pronounced in 2013 when the average import price increased by 167%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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