Portugal: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Portugal

The Portuguese balancing mechanical parts machine market was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption posted a buoyant expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Portugal

In 2021, the amount of machines for balancing mechanical parts exported from Portugal fell significantly to X units, reducing by -49.7% compared with 2020 figures. Over the period under review, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2017 when exports increased by 685% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports fell remarkably to $X in 2021. In general, exports, however, showed a temperate expansion. The growth pace was the most rapid in 2017 with an increase of 1,566%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units) was the main destination for balancing mechanical parts machine exports from Portugal, with a 59% share of total exports. Moreover, balancing mechanical parts machine exports to Spain exceeded the volume sent to the second major destination, Italy (X units), fourfold. Turkey (X units) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +47.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+105.9% per year) and Turkey (0.0% per year).

In value terms, Spain ($X) remains the key foreign market for machines for balancing mechanical parts exports from Portugal, comprising 51% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +53.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+103.4% per year) and France (+16.2% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, reducing by -5.8% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of 112%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to Angola ($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 India (+71.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Portugal

After four years of decline, supplies from abroad of machines for balancing mechanical parts increased by 324% to X units in 2021. In general, imports posted a prominent expansion. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Overall, imports posted a buoyant increase. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X units) constituted the largest supplier of balancing mechanical parts machine to Portugal, accounting for a 43% share of total imports. Moreover, balancing mechanical parts machine imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by China (X units), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.2% per year) and China (+54.8% per year).

In value terms, the largest balancing mechanical parts machine suppliers to Portugal were Spain ($X), the United States ($X) and Italy ($X), with a combined 79% share of total imports. These countries were followed by Germany, China, France and the Netherlands, which together accounted for a further 20%.

Among the main suppliers, France, with a CAGR of +98.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, waning by -6.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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 ($X per unit), while the price for the Netherlands ($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 Netherlands (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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