Global Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size

The global machinery electrical parts market fell modestly to $X in 2022, shrinking by -4% against the previous year. Over the period under review, consumption, however, recorded a resilient expansion. Over the period under review, the global market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production

In value terms, machinery electrical parts production contracted to $X in 2022 estimated in export price. In general, production, however, posted a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 61%. Over the period under review, global production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Machinery Electrical Parts Exports

Exports

After two years of growth, shipments abroad of electrical parts of machinery or apparatus decreased by -14.7% to X tons in 2022. Over the period under review, exports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 140% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery electrical parts exports stood at $X in 2022. In general, exports, however, showed a temperate expansion. The growth pace was the most rapid in 2017 when exports increased by 197%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the global exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), distantly followed by France (X tons), Belgium (X tons) and Portugal (X tons) represented the main exporters of electrical parts of machinery or apparatus, together mixing up 44% of total exports. The UK (X tons), Mexico (X tons), the Netherlands (X tons), Ireland (X tons), Hong Kong SAR (X tons), Poland (X tons), Taiwan (Chinese) (X tons), Germany (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to machinery electrical parts exports from China stood at +8.8%. At the same time, Ireland (+47.0%), Poland (+39.5%), Portugal (+16.0%), Hong Kong SAR (+13.4%), France (+11.2%), Germany (+8.4%) and South Korea (+6.9%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter exported in the world, with a CAGR of +47.0% from 2012-2022. Belgium experienced a relatively flat trend pattern. By contrast, the Netherlands (-2.0%), the UK (-2.0%), Taiwan (Chinese) (-3.6%) and Mexico (-4.0%) illustrated a downward trend over the same period. While the share of China (+8.3 p.p.), France (+4.4 p.p.), Portugal (+3.5 p.p.), Ireland (+3.2 p.p.), Poland (+3 p.p.) and Hong Kong SAR (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Netherlands (-2.8 p.p.), Belgium (-2.9 p.p.), the UK (-3.4 p.p.), Taiwan (Chinese) (-3.4 p.p.) and Mexico (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest machinery electrical parts supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of global exports. It was followed by Germany, with a 5% share.

In China, machinery electrical parts exports expanded at an average annual rate of +21.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+15.0% per year) and Germany (+1.1% per year).

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, rising by 18% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 23%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the other global leaders experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports

In 2022, after two years of growth, there was significant decline in purchases abroad of electrical parts of machinery or apparatus, when their volume decreased by -23.2% to X tons. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 81% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, machinery electrical parts imports fell significantly to $X in 2022. Over the period under review, imports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 150%. Global imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of machinery electrical parts imports in 2022 were Turkey (X tons), Belgium (X tons) and Thailand (X tons), together finishing at 44% of total import. Spain (X tons) held the next position in the ranking, followed by Hong Kong SAR (X tons) and Germany (X tons). All these countries together took near 19% share of total imports. Poland (X tons), the Netherlands (X tons), Vietnam (X tons), Portugal (X tons), Sweden (X tons), Italy (X tons) and Malaysia (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +93.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Germany ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined 43% share of global imports.

Turkey, with a CAGR of +71.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, reducing by -6.8% against the previous year. Overall, the import price, however, enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 53%. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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