Asia: Wood Milling Machine Market 2023

Wood Milling Machine Market Size in Asia

For the fourth consecutive year, the Asian wood milling machine market recorded growth in sales value, which increased by 50% to $X in 2021. Over the period under review, consumption recorded a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wood Milling Machine Production in Asia

In value terms, wood milling machine production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 71% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Wood Milling Machine Exports

Exports in Asia

After seven years of growth, overseas shipments of planing, milling or moulding machines decreased by -10.2% to X units in 2021. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 39%. The volume of export peaked at X units in 2020, and then reduced in the following year.

In value terms, wood milling machine exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 149% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China represented the key exporter of planing, milling or moulding machines in Asia, with the volume of exports accounting for X units, which was approx. 72% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), making up a 26% share of total exports.

China was also the fastest-growing in terms of the planing, milling or moulding machines exports, with a CAGR of +8.3% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+15 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -14% from 2012 to 2021, respectively.

In value terms, the largest wood milling machine supplying countries in Asia were China ($X) and Taiwan (Chinese) ($X).

In terms of the main exporting countries, China, with a CAGR of +12.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, jumping by 48% against the previous year. In general, the export price enjoyed pronounced growth. The growth pace was the most rapid in 2014 when the export price increased by 114% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.9%).

Wood Milling Machine Imports

Imports in Asia

In 2021, wood milling machine imports in Asia soared to X units, picking up by 29% against the year before. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 55% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, wood milling machine imports fell modestly to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 20%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of planing, milling or moulding machines, namely Thailand, India and Qatar, represented more than two-thirds of total import. It was distantly followed by Indonesia (X units), committing a 6% share of total imports. The following importers - Vietnam (X units), the Philippines (X units) and China (X units) - together made up 6.9% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +24.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 54% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of +17.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, shrinking by -24.4% against the previous year. Over the period under review, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2015 an increase of 53% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices remained at a lower figure.

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 China ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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