Russian Federation: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in the Russian Federation

The Russian balancing mechanical parts machine market fell to $X in 2021, waning by -4.9% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Balancing mechanical parts machine consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Machines For Balancing Mechanical Parts in the Russian Federation

In value terms, balancing mechanical parts machine production dropped to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 24%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports from the Russian Federation

In 2021, approx. X units of machines for balancing mechanical parts were exported from Russia; with an increase of 73% compared with 2020 figures. Overall, exports enjoyed pronounced growth. The pace of growth was the most pronounced in 2016 when exports increased by 624% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports skyrocketed to $X in 2021. In general, exports enjoyed a moderate expansion. The growth pace was the most rapid in 2016 when exports increased by 221%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units), Belarus (X units) and Poland (X units) were the main destinations of balancing mechanical parts machine exports from Russia, together accounting for 52% of total exports. These countries were followed by the UK, Turkey, the United States, Bangladesh, the Netherlands, Algeria, Slovakia and Ukraine, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +247.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for balancing mechanical parts machine exported from Russia were Kazakhstan ($X), Belarus ($X) and Poland ($X), with a combined 52% share of total exports. The UK, Turkey, the United States, Ukraine, Bangladesh, the Netherlands, Algeria and Slovakia lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Algeria, with a CAGR of +259.2%, saw 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 balancing mechanical parts machine export price amounted to $X per unit, waning by -15.4% against the previous year. Overall, the export price, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2017 an increase of 110% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Ukraine ($X per unit), while the average price for exports to the UK ($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 Venezuela (+1,158.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into the Russian Federation

After three years of decline, supplies from abroad of machines for balancing mechanical parts increased by 78% to X units in 2021. Overall, imports, however, saw a noticeable slump. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest balancing mechanical parts machine supplier to Russia, with a 77% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), eightfold. The third position in this ranking was taken by Italy (X units), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.3% per year) and Italy (-16.3% per year).

In value terms, China ($X), Italy ($X) and South Korea ($X) constituted the largest balancing mechanical parts machine suppliers to Russia, with a combined 65% share of total imports. Japan and the United States lagged somewhat behind, together comprising a further 7.1%.

Among the main suppliers, Japan, with a CAGR of +27.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, leveling off at the previous year. In general, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 64%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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