Eastern Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Eastern Asia

The East Asian balancing mechanical parts machine market fell modestly to $X.2B in 2022, reducing by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X.9B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in Eastern Asia

In value terms, balancing mechanical parts machine production dropped modestly to $X.9B in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X.5B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of machines for balancing mechanical parts, when their volume decreased by X% to X units. Overall, exports, however, showed pronounced growth. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell notably in the following year.

In value terms, balancing mechanical parts machine exports dropped remarkably to $X in 2022. In general, exports recorded a noticeable setback. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, finishing at X units, which was near X% of total exports in 2022. Japan (X units) took a little share of total exports.

China was also the fastest-growing in terms of the machines for balancing mechanical parts exports, with a CAGR of X% from 2012 to 2022. Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics.

In value terms, the largest balancing mechanical parts machine supplying countries in Eastern Asia were China ($X) and Japan ($X).

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

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price, however, recorded a abrupt slump. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Imports of Machines For Balancing Mechanical Parts

Imports in Eastern Asia

Balancing mechanical parts machine imports shrank significantly to X units in 2022, with a decrease of X% on the previous year. Over the period under review, imports showed a deep setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports dropped rapidly to $X in 2022. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of machines for balancing mechanical parts, namely Japan, South Korea and China, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X units), mixing up a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported machines for balancing mechanical parts in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by Taiwan (Chinese), with an X% share.

In China, balancing mechanical parts machine imports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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