Ireland: Working Wire Machine Market 2022

Working Wire Machine Market Size in Ireland

The Irish working wire machine market dropped dramatically to $X in 2021, falling by -28.2% against the previous year. In general, consumption showed a drastic downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Working Wire Machine Production in Ireland

In value terms, working wire machine production shrank sharply to $X in 2021 estimated in export price. Overall, production saw a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of 101%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Working Wire Machine Exports

Exports from Ireland

In 2021, shipments abroad of machines for working wire increased by 4.7% to X units, rising for the third consecutive year after five years of decline. Over the period under review, exports, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 183% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, working wire machine exports shrank to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 106% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X units), Turkey (X units) and Italy (X units) were the main destinations of working wire machine exports from Ireland, with a combined 57% share of total exports. Germany, the United States, Malaysia, Portugal, the UK, Canada and the Czech Republic lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +66.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Germany ($X) constituted the largest markets for working wire machine exported from Ireland worldwide, with a combined 52% share of total exports. South Africa, Turkey, Portugal, Malaysia, Canada, the UK and the Czech Republic lagged somewhat behind, together comprising a further 47%.

Malaysia, with a CAGR of +67.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, falling by -18.6% against the previous year. In general, the export price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 186% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 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 Canada ($X per unit), while the average price for exports to Malaysia ($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 Mexico (+62.3%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Ireland

In 2021, supplies from abroad of machines for working wire increased by 47% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 626%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, working wire machine imports contracted rapidly to $X in 2021. Overall, imports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 309%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest working wire machine supplier to Ireland, with a 55% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.1% per year) and the UK (+15.6% per year).

In value terms, the United States ($X), China ($X) and the UK ($X) constituted the largest working wire machine suppliers to Ireland.

In terms of the main suppliers, the UK, with a CAGR of +5.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2021, with a decrease of -52.7% against the previous year. Over the period under review, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 161% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 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 the United States ($X per unit), while the price for China ($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 United States (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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