United Kingdom: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in the UK

The UK grinding and sharpening machine market dropped sharply to $X in 2022, with a decrease of -44.3% against the previous year. In general, consumption continues to indicate a pronounced slump. As a result, consumption attained the peak level of $X, and then declined rapidly in the following year.

Production of Grinding And Sharpening Metal Finishing Machines in the UK

In value terms, grinding and sharpening machine production contracted to $X in 2022 estimated in export price. In general, production recorded a precipitous contraction. The pace of growth appeared the most rapid in 2021 with an increase of 42%. Grinding and sharpening machine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from the UK

In 2022, after three years of growth, there was significant decline in overseas shipments of grinding and sharpening metal finishing machines, when their volume decreased by -31.3% to X units. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 61% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding and sharpening machine exports shrank markedly to $X in 2022. Overall, exports showed a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 46% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Ireland (X units) and Germany (X units) were the main destinations of grinding and sharpening machine exports from the UK, with a combined 55% share of total exports. France, Australia, Taiwan (Chinese), China, Austria, South Africa, the Netherlands, India, Spain and Egypt lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +42.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from the UK, comprising 39% of total exports. The second position in the ranking was held by South Africa ($X), with a 7% share of total exports. It was followed by China, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+18.3% per year) and China (-32.9% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, jumping by 17% against the previous year. Overall, the export price, however, showed a abrupt slump. The pace of growth was the most pronounced in 2021 when the average export price increased by 45%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Austria ($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 South Africa (+16.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into the UK

Grinding and sharpening machine imports into the UK reduced dramatically to X units in 2022, which is down by -53.4% on 2021 figures. In general, imports recorded a slight decrease. The pace of growth was the most pronounced in 2021 when imports increased by 123% against the previous year. As a result, imports attained the peak of X units, and then fell notably in the following year.

In value terms, grinding and sharpening machine imports surged to $X in 2022. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to the UK, accounting for a 76% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.7% per year) and Taiwan (Chinese) (-1.5% per year).

In value terms, China ($X), Germany ($X) and Australia ($X) were the largest grinding and sharpening machine suppliers to the UK, together accounting for 44% of total imports. Italy, Taiwan (Chinese), the United States, Japan and Spain lagged somewhat behind, together comprising a further 17%.

Italy, with a CAGR of +31.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, rising by 154% against the previous year. Over the period under review, the import price, however, recorded a abrupt descent. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Spain ($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 (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :