Southern Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Southern Asia

In 2021, the South Asian balancing mechanical parts machine market decreased by -3.6% to $X, falling for the fifth year in a row after three years of growth. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Southern Asia

In value terms, balancing mechanical parts machine production stood at $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 68%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Southern Asia

In 2021, overseas shipments of machines for balancing mechanical parts were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 240% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. In general, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 275%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X units), together amounting to 100% of total export.

India was also the fastest-growing in terms of the machines for balancing mechanical parts exports, with a CAGR of +16.6% from 2012 to 2021. India (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest balancing mechanical parts machine supplier in Southern Asia.

In India, balancing mechanical parts machine exports expanded at an average annual rate of +10.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, which is down by -29.1% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 77% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -5.1% per year.

Imports of Machines For Balancing Mechanical Parts

Imports in Southern Asia

In 2021, approx. X units of machines for balancing mechanical parts were imported in Southern Asia; jumping by 20% against the previous year. Over the period under review, imports enjoyed a noticeable expansion. The growth pace was the most rapid in 2014 with an increase of 227%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports reached $X in 2021. Overall, imports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2017 with an increase of 158% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

India was the major importer of machines for balancing mechanical parts in Southern Asia, with the volume of imports recording X units, which was near 57% of total imports in 2021. Sri Lanka (X units) took the second position in the ranking, followed by Pakistan (X units). All these countries together took near 37% share of total imports. Bangladesh (X units) and Afghanistan (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine imports into India stood at -3.4%. At the same time, Sri Lanka (+44.5%), Pakistan (+38.6%), Bangladesh (+12.3%) and Afghanistan (+4.8%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +44.5% from 2012-2021. From 2012 to 2021, the share of Sri Lanka, Pakistan and Bangladesh increased by +21, +14 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported machines for balancing mechanical parts in Southern Asia, comprising 77% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an 11% share of total imports. It was followed by Pakistan, with a 6.2% share.

In India, balancing mechanical parts machine imports plunged by an average annual rate of -4.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sri Lanka (+25.4% per year) and Pakistan (+21.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, waning by -12.4% against the previous year. Over the period under review, the import price recorded a noticeable downturn. The pace of growth was the most pronounced in 2020 when the import price increased by 92% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :