Asia: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Asia

In 2022, the Asian gear cutting machine market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, showed a notable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Gear Cutting Machine Production in Asia

In value terms, gear cutting machine production fell to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gear Cutting Machine Exports

Exports in Asia

In 2022, overseas shipments of gear cutting, gear grinding or gear finishing machines increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a perceptible decrease. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gear cutting machine exports expanded notably to $X in 2022. In general, exports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporting country with an export of around X units, which reached X% of total exports. India (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%). Singapore (X units) took a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of gear cutting, gear grinding or gear finishing machines. Japan (X%), India (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest gear cutting machine supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, shrinking by X% against the previous year. In general, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the export price figures.

Gear Cutting Machine Imports

Imports in Asia

In 2022, after two years of decline, there was significant growth in purchases abroad of gear cutting, gear grinding or gear finishing machines, when their volume increased by X% to X units. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, gear cutting machine imports skyrocketed to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X units) was the major importer of gear cutting, gear grinding or gear finishing machines, mixing up X% of total imports. India (X units) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Mongolia (X%), Singapore (X%) and China (X%). The following importers - Turkey (X units) and South Korea (X units) - each recorded a X% share of total imports.

Imports into the Philippines increased at an average annual rate of X% from 2012 to 2022. At the same time, Mongolia (X%), Singapore (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%), India (X%) and South Korea (X%) illustrated a downward trend over the same period. The Philippines (X p.p.) and Mongolia (X p.p.) significantly strengthened its position in terms of the total imports, while China, South Korea and India saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in Asia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, gear cutting machine imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, declining by X% against the previous year. Overall, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Mongolia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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