China: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in China

The Chinese machinery electrical parts market rose remarkably to $X in 2022, picking up by X% against the previous year. In general, consumption enjoyed a buoyant increase. Machinery electrical parts consumption peaked in 2022 and is likely to continue growth in the near future.

Machinery Electrical Parts Production in China

In value terms, machinery electrical parts production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Machinery Electrical Parts Exports

Exports from China

In 2022, approx. X tons of electrical parts of machinery or apparatus were exported from China; which is down by X% compared with the previous year's figure. In general, exports recorded a sharp decrease. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, machinery electrical parts exports reduced remarkably to $X in 2022. Over the period under review, exports saw a sharp downturn. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Liberia (X tons) was the main destination for machinery electrical parts exports from China, with a X% share of total exports. Moreover, machinery electrical parts exports to Liberia exceeded the volume sent to the second major destination, Togo (X kg), more than tenfold. Hong Kong SAR (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Liberia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Hong Kong SAR (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for electrical parts of machinery or apparatus exports from China, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price faced a sharp curtailment. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Liberia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into China

In 2022, after two years of growth, there was significant decline in supplies from abroad of electrical parts of machinery or apparatus, when their volume decreased by X% to X tons. In general, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, machinery electrical parts imports fell to $X in 2022. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of machinery electrical parts imports to China, with a combined X% share of total imports. South Korea, Thailand, Costa Rica, Hungary, Malaysia, Vietnam, the Philippines, Indonesia, the United States and Sweden lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery electrical parts suppliers to China were Japan ($X), Malaysia ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. South Korea, Thailand, the Philippines, Costa Rica, Vietnam, the United States, Germany, Hungary, Indonesia and Sweden lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, 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 2022, the average machinery electrical parts import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price 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, machinery electrical parts import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X,951 per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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