China: Working Wire Machine Market 2022

Working Wire Machine Market Size in China

After five years of decline, the Chinese working wire machine market increased by 0.8% to $X in 2021. In general, consumption saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Working Wire Machine Production in China

In value terms, working wire machine production soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild downturn. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Working Wire Machine Exports

Exports from China

Working wire machine exports from China skyrocketed to X units in 2021, rising by 15% against the previous year. Overall, exports enjoyed strong growth. The pace of growth was the most pronounced in 2018 when exports increased by 37% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, working wire machine exports surged to $X in 2021. Over the period under review, exports saw a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X units), the United States (X units) and Russia (X units) were the main destinations of working wire machine exports from China, together accounting for 20% of total exports. These countries were followed by Brazil, Indonesia, Australia, Vietnam, Thailand, Turkey, Nigeria, Italy, Greece and Mexico, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +74.8%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Turkey ($X) and Russia ($X) constituted the largest markets for working wire machine exported from China worldwide, together accounting for 27% of total exports. These countries were followed by the United States, Indonesia, Mexico, Brazil, Vietnam, Thailand, Nigeria, Italy, Australia and Greece, which together accounted for a further 26%.

In terms of the main countries of destination, Australia, with a CAGR of +40.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, surging by 21% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per unit), while the average price for exports to Greece ($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 Indonesia (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into China

In 2021, purchases abroad of machines for working wire was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% 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 -6.6% against 2017 indices. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, working wire machine imports soared to $X in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest supplier of working wire machine to China, with a 43% share of total imports. Moreover, working wire machine imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by Germany (X units), with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.3% per year) and Germany (+13.9% per year).

In value terms, the largest working wire machine suppliers to China were Germany ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 74% share of total imports. These countries were followed by Italy, South Korea, the UK and the United States, which together accounted for a further 15%.

In terms of the main suppliers, the UK, with a CAGR of +63.4%, saw the highest rates of growth with regard to 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

In 2021, the average working wire machine import price amounted to $X per unit, increasing by 43% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, working wire machine import price increased by +57.0% against 2018 indices. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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