Belgium: Working Wire Machine Market 2022

Working Wire Machine Market Size in Belgium

The Belgian working wire machine market soared to $X in 2021, picking up by 144% 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). Over the period under review, consumption saw strong growth. Working wire machine consumption peaked in 2021 and is likely to see steady growth in the near future.

Working Wire Machine Exports

Exports from Belgium

In 2021, after two years of decline, there was significant growth in overseas shipments of machines for working wire, when their volume increased by 70% to X units. In general, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 248% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, working wire machine exports soared to $X in 2021. Overall, exports, however, faced a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by 98%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X units) was the main destination for working wire machine exports from Belgium, accounting for a 71% share of total exports. Moreover, working wire machine exports to the Czech Republic exceeded the volume sent to the second major destination, Argentina (X units), sixfold. The third position in this ranking was held by Japan (X units), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to the Czech Republic totaled +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+44.8% per year) and Japan (+17.9% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for working wire machine exports from Belgium, comprising 76% of total exports. The second position in the ranking was held by Argentina ($X), with a 13% share of total exports. It was followed by Canada, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic amounted to +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+8.2% per year) and Canada (-6.7% per year).

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, which is down by -19% against the previous year. Over the period under review, the export price recorded a perceptible descent. The most prominent rate of growth was recorded in 2015 when the average export price increased by 77% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Belgium

In 2021, the amount of machines for working wire imported into Belgium soared to X units, with an increase of 180% on 2020. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 353%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, working wire machine imports skyrocketed to $X in 2021. In general, imports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 179% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of working wire machine imports to Belgium, with a combined 75% share of total imports. These countries were followed by Denmark, the United States, the Netherlands and France, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +666.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Taiwan (Chinese) ($X) and Denmark ($X) appeared to be the largest working wire machine suppliers to Belgium, with a combined 83% share of total imports.

Taiwan (Chinese), with a CAGR of +156.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, falling by -40.7% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 90% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+25.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :