Pakistan: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Pakistan

In 2021, the Pakistani balancing mechanical parts machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate significant growth. Balancing mechanical parts machine consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Pakistan

Balancing mechanical parts machine exports from Pakistan reduced rapidly to X units in 2021, with a decrease of -35.4% on the year before. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 182%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports reduced to $X in 2021. Overall, exports recorded a deep reduction. The smallest decline of -4.7% was in 2013. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for balancing mechanical parts machine exports from Pakistan, accounting for a 92% share of total exports. It was followed by Sweden (X units), with a 2.6% share of total exports. Malaysia (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-28.8% per year) and Malaysia (-25.2% per year).

In value terms, the largest markets for balancing mechanical parts machine exported from Pakistan were the United Arab Emirates ($X), Malaysia ($X) and Italy ($X), together comprising 95% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +40.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, rising by 38% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 180% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per unit), while the average price for exports to Sweden ($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 Malaysia (+25.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machines For Balancing Mechanical Parts

Imports into Pakistan

In 2021, supplies from abroad of machines for balancing mechanical parts increased by 103% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2014 when imports increased by 2,284% against the previous year. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 884% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and New Zealand (X units) were the main suppliers of balancing mechanical parts machine imports to Pakistan, with a combined 61% share of total imports. These countries were followed by Italy, Singapore, India, the United States, the UK, Bulgaria, the Netherlands, Denmark and Canada, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +108.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machines for balancing mechanical parts to Pakistan, comprising 31% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by the United States, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +48.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+31.2% per year) and the United States (+69.9% per year).

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, growing by 9.5% against the previous year. Overall, the import price, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 59% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+57.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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