Russian Federation: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in the Russian Federation

For the third consecutive year, the Russian gear cutting machine market recorded decline in sales value, which decreased by -30.4% to $X in 2021. Over the period under review, consumption saw a deep reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Exports

Exports from the Russian Federation

In 2021, shipments abroad of gear cutting, gear grinding or gear finishing machines increased by 196% to X units, rising for the second year in a row after four years of decline. Overall, exports saw a moderate expansion. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, gear cutting machine exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2019 when exports increased by 31%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X units) was the main destination for gear cutting machine exports from Russia, with a 78% share of total exports. Moreover, gear cutting machine exports to Azerbaijan exceeded the volume sent to the second major destination, India (X units), sevenfold. Germany (X units) ranked third in terms of total exports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Azerbaijan stood at +116.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.5% per year) and Germany (-7.4% per year).

In value terms, the largest markets for gear cutting machine exported from Russia were Azerbaijan ($X), Germany ($X) and Uzbekistan ($X), together comprising 65% of total exports.

Azerbaijan, with a CAGR of +127.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, reducing by -60.4% against the previous year. Overall, the export price faced a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 136%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Azerbaijan ($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 Vietnam (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into the Russian Federation

For the third consecutive year, Russia recorded decline in purchases abroad of gear cutting, gear grinding or gear finishing machines, which decreased by -26.7% to X units in 2021. In general, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 219% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, gear cutting machine imports contracted to $X in 2021. Over the period under review, imports showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 280%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), China (X units) and Belarus (X units) were the main suppliers of gear cutting machine imports to Russia, with a combined 92% share of total imports. These countries were followed by Ukraine, Taiwan (Chinese) and South Korea, which together accounted for a further 7.4%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +11.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Russia, comprising 94% of total imports. The second position in the ranking was held by China ($X), with a 3% share of total imports. It was followed by South Korea, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.3% per year) and South Korea (-8.2% per year).

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, growing by 29% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gear cutting machine import price increased by +159.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 51% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+39.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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