Russian Federation: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in the Russian Federation

The Russian market for grinding, sanding and polishing machines declined modestly to $X in 2021, approximately mirroring 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 saw a notable increase. As a result, consumption reached the peak level of $X, leveling off in the following year.

Exports of Grinding, Sanding and Polishing Machines

Exports from the Russian Federation

In 2021, shipments abroad of grinding, sanding and polishing machines decreased by -14% to X units, falling for the second year in a row after three years of growth. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 674% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, grinding, sanding and polishing machine exports reduced to $X in 2021. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 738% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Finland (X units) were the main destinations of grinding, sanding and polishing machine exports from Russia, together comprising 87% of total exports. These countries were followed by Uzbekistan, Moldova, Argentina and Ukraine, which together accounted for a further 8.4%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +66.9%), while the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Kazakhstan ($X) and Finland ($X) appeared to be the largest markets for grinding, sanding and polishing machine exported from Russia worldwide, together comprising 77% of total exports. These countries were followed by Moldova, Uzbekistan, Argentina and Ukraine, which together accounted for a further 11%.

Among the main countries of destination, Moldova, with a CAGR of +116.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for grinding, sanding and polishing machines amounted to $X per unit, rising by 4.6% against the previous year. In general, export 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. The pace of growth appeared the most rapid in 2018 when the average export price increased by 52%. The export price peaked at $X per unit in 2016; however, from 2017 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, amid the top suppliers, the country with the highest price was Moldova ($X per unit), while the average price for exports to Finland ($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 (+33.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into the Russian Federation

In 2021, grinding, sanding and polishing machine imports into Russia skyrocketed to X units, rising by 19% on the year before. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 71%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, grinding, sanding and polishing machine imports reduced dramatically to $X in 2021. Over the period under review, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2020 when imports increased by 92% against the previous year. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of grinding, sanding and polishing machine to Russia, with a 69% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Finland (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+269.1% per year) and Taiwan (Chinese) (-3.3% per year).

In value terms, China ($X) constituted the largest supplier of grinding, sanding and polishing machines to Russia, comprising 35% of total imports. The second position in the ranking was held by Finland ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+179.5% per year) and Taiwan (Chinese) (-1.2% per year).

Import Prices by Country

The average import price for grinding, sanding and polishing machines stood at $X per unit in 2021, dropping by -39.4% against the previous year. Over the period under review, the import price saw a abrupt decline. The pace of growth was the most pronounced in 2020 when the average import price increased by 57% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Taiwan (Chinese) ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :