Spain: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Spain

The Spanish gear cutting machine market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, faced a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Exports

Exports from Spain

In 2021, after two years of growth, there was significant decline in shipments abroad of gear cutting, gear grinding or gear finishing machines, when their volume decreased by -33.9% to X units. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 222% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, gear cutting machine exports contracted remarkably to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 393% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for gear cutting machine exports from Spain, with a 30% share of total exports. Moreover, gear cutting machine exports to India exceeded the volume sent to the second major destination, Slovenia (X units), threefold. Saudi Arabia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+58.7% per year) and Saudi Arabia (0.0% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Spain, comprising 40% of total exports. The second position in the ranking was taken by India ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+6.8% per year) and the United Arab Emirates (+11.1% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, reducing by -42.4% against the previous year. In general, the export price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 1,404%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Australia ($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 the United Arab Emirates (+16.1%), while the prices for the other major destinations experienced a decline.

Gear Cutting Machine Imports

Imports into Spain

In 2021, approx. X units of gear cutting, gear grinding or gear finishing machines were imported into Spain; growing by 80% against 2020 figures. In general, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 1,014% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, gear cutting machine imports declined rapidly to $X in 2021. Overall, imports, however, continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 122%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Switzerland (X units) constituted the largest supplier of gear cutting machine to Spain, accounting for a 90% share of total imports. Moreover, gear cutting machine imports from Switzerland exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Switzerland amounted to +83.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and the United States (-51.7% per year).

In value terms, Germany ($X), Switzerland ($X) and the United States ($X) constituted the largest gear cutting machine suppliers to Spain, with a combined 91% share of total imports.

Switzerland, with a CAGR of +62.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, declining by -55.5% against the previous year. In general, the import price, however, recorded strong growth. The growth pace was the most rapid in 2019 when the average import price increased by 530%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+52.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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