United Kingdom: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in the UK

The UK gear cutting machine market contracted remarkably to $X in 2021, falling by -42.1% against the previous year. Overall, consumption faced a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Gear Cutting Machine Production in the UK

In value terms, gear cutting machine production stood at $X in 2021 estimated in export price. Overall, production continues to indicate a slight slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports from the UK

In 2021, shipments abroad of gear cutting, gear grinding or gear finishing machines was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2014 with an increase of 200% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, gear cutting machine exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 152% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Austria (X units), Germany (X units) and India (X units) were the main destinations of gear cutting machine exports from the UK, with a combined 43% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +240.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from the UK, comprising 52% of total exports. The second position in the ranking was taken by Germany ($X), with a 21% share of total exports. It was followed by Austria, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.7% per year) and Austria (+89.9% per year).

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, surging by 27% against the previous year. Overall, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 148%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to New Zealand ($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 France (+16.7%), while the prices for the other major destinations experienced mixed trend patterns.

Gear Cutting Machine Imports

Imports into the UK

In 2021, the amount of gear cutting, gear grinding or gear finishing machines imported into the UK dropped notably to X units, with a decrease of -77.4% against the year before. Over the period under review, imports showed a dramatic decrease. The pace of growth appeared the most rapid in 2019 with an increase of 777% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, gear cutting machine imports fell markedly to $X in 2021. In general, imports showed a precipitous slump. The pace of growth was the most pronounced in 2019 when imports increased by 402% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), the Czech Republic (X units) and Turkey (X units) were the main suppliers of gear cutting machine imports to the UK, with a combined 81% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +89.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the Czech Republic ($X) and Taiwan (Chinese) ($X) appeared to be the largest gear cutting machine suppliers to the UK, together accounting for 75% of total imports.

Canada, with a CAGR of +363.5%, saw 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, waning by -6.6% against the previous year. In general, the import price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 474% 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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