Asia: Wood Bending Machine Market 2023

Wood Bending Machine Market Size in Asia

After five years of decline, the Asian wood bending machine market increased by 49% to $X in 2021. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Wood Bending Machine Production in Asia

In value terms, wood bending machine production reached $X in 2021 estimated in export price. Overall, production saw a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 79%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wood Bending Machine Exports

Exports in Asia

In 2021, overseas shipments of bending or assembling machines increased by 31% to X units, rising for the fifth consecutive year after two years of decline. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 134% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, wood bending machine exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 28%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, China (X units) was the key exporter of bending or assembling machines, creating 70% of total exports. It was distantly followed by Turkey (X units), Taiwan (Chinese) (X units) and Singapore (X units), together constituting a 27% share of total exports. South Korea (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +38.2% from 2012 to 2021. At the same time, Singapore (+39.2%), Taiwan (Chinese) (+21.6%), South Korea (+12.4%) and Turkey (+7.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of +39.2% from 2012-2021. China (+45 p.p.) and Singapore (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Turkey saw its share reduced by -2.4% and -31.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wood bending machine supplier in Asia, comprising 66% of total exports. The second position in the ranking was taken by Turkey ($X), with a 9.5% share of total exports. It was followed by South Korea, with an 8.1% share.

In China, wood bending machine exports expanded at an average annual rate of +23.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+2.4% per year) and South Korea (+9.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, dropping by -7.6% against the previous year. Overall, the export price faced a deep slump. The growth pace was the most rapid in 2016 an increase of 58%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-3.0%), while the other leaders experienced a decline in the export price figures.

Wood Bending Machine Imports

Imports in Asia

In 2021, supplies from abroad of bending or assembling machines increased by 27% to X units, rising for the second consecutive year after four years of decline. In general, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 when imports increased by 157% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, wood bending machine imports shrank slightly to $X in 2021. Overall, imports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 25%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Qatar was the largest importer of bending or assembling machines in Asia, with the volume of imports reaching X units, which was approx. 60% of total imports in 2021. India (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.8%). Iraq (X units), the Philippines (X units) and the United Arab Emirates (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood bending machine imports into Qatar stood at -14.2%. At the same time, the Philippines (+41.8%), Vietnam (+40.4%), India (+36.7%), the United Arab Emirates (+26.3%) and Iraq (+12.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +41.8% from 2012-2021. While the share of India (+16 p.p.), Vietnam (+5.7 p.p.), Iraq (+3.3 p.p.), the Philippines (+2 p.p.) and the United Arab Emirates (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-31.7 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) constitutes the largest market for imported bending or assembling machines in Asia, comprising 30% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam stood at +35.5%. In the other countries, the average annual rates were as follows: India (+4.1% per year) and the United Arab Emirates (+19.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, reducing by -22.9% against the previous year. In general, the import price, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 133% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+9.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :