Romania: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Romania

The Romanian balancing mechanical parts machine market rose remarkably to $X in 2021, with an increase of 10% 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). In general, consumption enjoyed a perceptible increase. Balancing mechanical parts machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports from Romania

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -72.2% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 419% against the previous year. As a result, the exports reached the peak of X units, and then dropped notably in the following year.

In value terms, balancing mechanical parts machine exports dropped notably to $X in 2021. Overall, exports, however, continue to indicate modest growth. The pace of growth appeared the most rapid in 2020 with an increase of 878%. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Italy (X units) was the main destination for balancing mechanical parts machine exports from Romania, with a 46% share of total exports. Moreover, balancing mechanical parts machine exports to Italy exceeded the volume sent to the second major destination, Hungary (X units), twofold. Moldova (X units) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+61.0% per year) and Moldova (+22.0% per year).

In value terms, Italy ($X) remains the key foreign market for machines for balancing mechanical parts exports from Romania, comprising 69% of total exports. The second position in the ranking was held by Moldova ($X), with a 9.3% share of total exports. It was followed by Hungary, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to Italy stood at +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+24.6% per year) and Hungary (+239.5% per year).

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, waning by -26.4% against the previous year. Over the period under review, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 339% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Hungary ($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 Moldova (+2.1%), while the prices for the other major destinations experienced a decline.

Imports of Machines For Balancing Mechanical Parts

Imports into Romania

In 2021, after four years of growth, there was decline in supplies from abroad of machines for balancing mechanical parts, when their volume decreased by -3% to X units. Over the period under review, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 243% against the previous year. Imports peaked at X units in 2020, and then contracted slightly in the following year.

In value terms, balancing mechanical parts machine imports rose sharply to $X in 2021. In general, imports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 151% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X units), Poland (X units) and China (X units) were the main suppliers of balancing mechanical parts machine imports to Romania, with a combined 58% share of total imports. Germany, Italy, the United States, Slovakia, India, Turkey and Hungary lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +196.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Italy ($X) constituted the largest balancing mechanical parts machine suppliers to Romania, together comprising 58% of total imports. These countries were followed by Poland, China, the Netherlands, Slovakia, India, Hungary and Turkey, which together accounted for a further 39%.

Slovakia, with a CAGR of +137.9%, 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

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, picking up by 13% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the average import price increased by 53% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: 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 China (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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