China: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in China

In 2021, the Chinese wood drilling machine market decreased by -33.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a pronounced contraction. Wood drilling machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wood Drilling Machine Production in China

In value terms, wood drilling machine production declined modestly to $X in 2021 estimated in export price. In general, production, however, posted prominent growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 35% against the previous year. Wood drilling machine production peaked at $X in 2020, and then dropped in the following year.

Wood Drilling Machine Exports

Exports from China

For the eighth consecutive year, China recorded growth in overseas shipments of drilling or morticing machines, which increased by 11% to X units in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 130%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, wood drilling machine exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 86% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for wood drilling machine exports from China, with a 51% share of total exports. Moreover, wood drilling machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fourfold. Russia (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+52.8% per year) and Russia (+28.8% per year).

In value terms, Vietnam ($X) remains the key foreign market for wood drilling machine exports from China, comprising 34% of total exports. The second position in the ranking was taken by Russia ($X), with an 11% share of total exports. It was followed by the United States, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +62.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+22.3% per year) and the United States (+25.6% per year).

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, growing by 8.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 64% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the Czech Republic ($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 Vietnam (+35.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into China

In 2021, supplies from abroad of drilling or morticing machines increased by 77% to X units, rising for the second consecutive year after three years of decline. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 413% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, wood drilling machine imports rose remarkably to $X in 2021. In general, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2016 when imports increased by 56% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest wood drilling machine supplier to China, with a 80% share of total imports. Moreover, wood drilling machine imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), tenfold. The Netherlands (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.9% per year) and the Netherlands (-3.7% per year).

In value terms, Germany ($X) constituted the largest supplier of wood drilling machine to China, comprising 76% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.3% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-19.8% per year) and Japan (-21.4% per year).

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2021, declining by -37.2% against the previous year. Over the period under review, the import price faced a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 258%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+119.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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