Russian Federation: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in the Russian Federation

The Russian grinding and sharpening machine market shrank to $X in 2022, reducing by -6.4% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Grinding and sharpening machine consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in the Russian Federation

In value terms, grinding and sharpening machine production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 102%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from the Russian Federation

After two years of growth, shipments abroad of grinding and sharpening metal finishing machines decreased by -24.4% to X units in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 122%. The exports peaked at X units in 2021, and then declined sharply in the following year.

In value terms, grinding and sharpening machine exports dropped remarkably to $X in 2022. In general, exports showed a pronounced contraction. The growth pace was the most rapid in 2021 when exports increased by 44%. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

Belarus (X units) was the main destination for grinding and sharpening machine exports from Russia, with a 63% share of total exports. Moreover, grinding and sharpening machine exports to Belarus exceeded the volume sent to the second major destination, Bangladesh (X units), fivefold. Ukraine (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to Belarus totaled +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+158.5% per year) and Ukraine (+27.6% per year).

In value terms, the largest markets for grinding and sharpening machine exported from Russia were Moldova ($X), Kazakhstan ($X) and Bangladesh ($X), with a combined 75% share of total exports.

Among the main countries of destination, Bangladesh, with a CAGR of +120.8%, 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 2022, the average grinding and sharpening machine export price amounted to $X per unit, rising by 4.9% against the previous year. Overall, the export price, however, continues to indicate a dramatic decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 56% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+43.2%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into the Russian Federation

In 2022, supplies from abroad of grinding and sharpening metal finishing machines decreased by -11.1% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 33%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine imports fell slightly to $X in 2022. In general, imports showed a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 33%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Russia, with a 90% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by Italy (X units), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-8.5% per year) and Italy (-11.1% per year).

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Russia, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by Taiwan (Chinese), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.3% per year) and Taiwan (Chinese) (-10.3% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, increasing by 9.9% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2015 when the average import price increased by 43% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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