Machine-Tool For Working Metal Market

The global machine-tool for working metal market is expected to experience a decrease in consumption trend over the next eight years. The market volume is projected to drop to 3.2M units by 2030, with an anticipated CAGR of -0.5%. In value terms, the market is forecasted to contract with an anticipated CAGR of -2.0%. China dominates both production and exports in the machine-tool market, while countries like India and the UK show growth in market size. The average import and export prices of machine-tools are also analyzed over the period from 2012 to 2022.

Market Forecast

The machine-tool for working metal market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.5% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 3.2M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -2.0% for the period from 2022 to 2030, which is projected to bring the market value to $20.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machine Tools For Working Metal

Global machine-tool for working metal consumption totaled 3.3M units in 2022, growing by 3.4% on the year before. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, global consumption hit record highs in 2022 and is expected to retain growth in the immediate term.

The global machine-tool for working metal market value dropped rapidly to $23.7B in 2022, waning by -21.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the global market reached the maximum level at $74.4B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Canada (540K units), China (420K units) and the UK (415K units), together accounting for 41% of global consumption. The United States, India, Russia, Singapore, Japan, Mexico, Brazil, South Africa, Malaysia and the Netherlands lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +21.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($1.8B), the United States ($1.3B) and Russia ($857M) appeared to be the countries with the highest levels of market value in 2022, together comprising 17% of the global market. Mexico, China, Canada, Brazil, Malaysia, Japan, the UK, South Africa, Singapore and the Netherlands lagged somewhat behind, together comprising a further 12%.

In terms of the main consuming countries, the UK, with a CAGR of +16.6%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of machine-tool for working metal per capita consumption was registered in Singapore (30 units per 1000 persons), followed by Canada (14 units per 1000 persons), the UK (6.1 units per 1000 persons) and the Netherlands (3 units per 1000 persons), while the world average per capita consumption of machine-tool for working metal was estimated at 0.4 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the machine-tool for working metal per capita consumption in Singapore totaled +20.7%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (+5.9% per year) and the UK (+13.7% per year).

Production

World Production of Machine Tools For Working Metal

In 2022, global machine-tool for working metal production shrank to 2.2M units, waning by -13.1% compared with the previous year's figure. Over the period under review, production continues to indicate a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 42% against the previous year. Over the period under review, global production attained the peak volume at 3.1M units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, machine-tool for working metal production fell to $16B in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 36%. Over the period under review, global production hit record highs at $27B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of machine-tool for working metal production was China (1.3M units), comprising approx. 61% of total volume. Moreover, machine-tool for working metal production in China exceeded the figures recorded by the second-largest producer, the United States (128K units), tenfold. The third position in this ranking was taken by Japan (90K units), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +8.5%. In the other countries, the average annual rates were as follows: the United States (-7.4% per year) and Japan (-4.7% per year).

Imports

World Imports of Machine Tools For Working Metal

In 2022, supplies from abroad of machine tools for working metal increased by 11% to 3M units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 54%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, machine-tool for working metal imports rose modestly to $9.4B in 2022. In general, imports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 with an increase of 12%. Over the period under review, global imports reached the peak figure at $11.9B in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

The purchases of the three major importers of machine tools for working metal, namely Canada, the UK and India, represented more than third of total import. The United States (236K units) took the next position in the ranking, followed by Singapore (220K units), the Netherlands (217K units) and Russia (146K units). All these countries together took approx. 27% share of total imports. The following importers - Malaysia (56K units), Sweden (50K units), the Philippines (48K units) and South Africa (46K units) - each amounted to a 6.7% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +24.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.2B) constitutes the largest market for imported machine tools for working metal worldwide, comprising 13% of global imports. The second position in the ranking was held by India ($414M), with a 4.4% share of global imports. It was followed by Russia, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +3.1%. In the other countries, the average annual rates were as follows: India (-6.0% per year) and Russia (-7.3% per year).

Import Prices By Country

The average machine-tool for working metal import price stood at $3,167 per unit in 2022, reducing by -6.6% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of 22%. Global import price peaked at $5,482 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($5,128 per unit), while Singapore ($265 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.3%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Machine Tools For Working Metal

In 2022, global machine-tool for working metal exports dropped to 1.8M units, which is down by -7.8% compared with the year before. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 23%. Over the period under review, the global exports attained the peak figure at 2M units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, machine-tool for working metal exports shrank slightly to $9.4B in 2022. Overall, exports saw a slight setback. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. The global exports peaked at $11.3B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China dominates exports structure, recording 918K units, which was near 50% of total exports in 2022. The Netherlands (166K units) took the second position in the ranking, followed by India (132K units) and the United States (110K units). All these countries together took approx. 22% share of total exports. The UK (71K units), Italy (59K units), Singapore (50K units), Turkey (50K units) and Germany (37K units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +9.6% from 2012 to 2022. At the same time, Singapore (+9.7%) and Turkey (+8.9%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.7% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, the United States (-2.6%), Italy (-4.3%), India (-4.9%), Germany (-6.4%) and the UK (-17.1%) illustrated a downward trend over the same period. China (+32 p.p.), Singapore (+1.7 p.p.) and Turkey (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while Germany, India and the UK saw its share reduced by -1.6%, -3.7% and -19.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest machine-tool for working metal supplying countries worldwide were China ($1.5B), Italy ($1.2B) and Germany ($1.1B), together accounting for 41% of global exports.

China, with a CAGR of +8.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average machine-tool for working metal export price amounted to $5,172 per unit, picking up by 6.6% against the previous year. Over the period under review, the export price, however, showed a mild decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 24% against the previous year. The global export price peaked at $6,674 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($31,173 per unit), while India ($364 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+23.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform