Portugal: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Portugal

The Portuguese gear cutting machine market surged to $X in 2021, picking up by 188% against the previous year. In general, consumption, however, showed a precipitous curtailment. Gear cutting machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Gear Cutting Machine Production in Portugal

In value terms, gear cutting machine production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Gear cutting machine production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Gear Cutting Machine Exports

Exports from Portugal

In 2021, approx. X units of gear cutting, gear grinding or gear finishing machines were exported from Portugal; rising by 110% against 2020. Overall, exports posted a mild expansion. The growth pace was the most rapid in 2019 with an increase of 940%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, gear cutting machine exports surged to $X in 2021. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile (X units) was the main destination for gear cutting machine exports from Portugal, with a 65% share of total exports. Moreover, gear cutting machine exports to Chile exceeded the volume sent to the second major destination, Luxembourg (X units), threefold. Cabo Verde (X units) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (0.0% per year) and Cabo Verde (+9.1% per year).

In value terms, Chile ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Portugal, comprising 53% of total exports. The second position in the ranking was taken by Luxembourg ($X), with a 7.8% share of total exports. It was followed by Angola, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (0.0% per year) and Angola (-14.7% per year).

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, jumping by 3,468% against the previous year. In general, the export price posted a remarkable increase. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mozambique ($X per unit), while the average price for exports to Cabo Verde ($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 Angola (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Portugal

In 2021, the amount of gear cutting, gear grinding or gear finishing machines imported into Portugal soared to X units, growing by 320% against 2020 figures. In general, imports, however, faced a dramatic curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 445% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, gear cutting machine imports dropped rapidly to $X in 2021. Overall, imports, however, faced a sharp decrease. The growth pace was the most rapid in 2014 when imports increased by 5,228%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), China (X units) and Turkey (X units) were the main suppliers of gear cutting machine imports to Portugal, with a combined 60% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +119.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and the Czech Republic ($X) constituted the largest gear cutting machine suppliers to Portugal, together accounting for 54% of total imports.

Italy, with a CAGR of +141.2%, recorded 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 mixed trend patterns.

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, falling by -98.2% against the previous year. Overall, the import price, however, showed a prominent increase. The growth pace was the most rapid in 2019 an increase of 4,804% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+116.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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