Portugal: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in Portugal

In 2021, the Portuguese wood drilling machine market increased by 107% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wood Drilling Machine Production in Portugal

In value terms, wood drilling machine production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable reduction. Wood drilling machine production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Wood Drilling Machine Exports

Exports from Portugal

In 2021, shipments abroad of drilling or morticing machines was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 224% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wood drilling machine exports skyrocketed to $X in 2021. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 176% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Angola (X units), Mozambique (X units) and Cabo Verde (X units) were the main destinations of wood drilling machine exports from Portugal, with a combined 65% share of total exports. These countries were followed by Italy, Luxembourg and Spain, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +13.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Angola ($X) remains the key foreign market for wood drilling machine exports from Portugal, comprising 49% of total exports. The second position in the ranking was held by Mozambique ($X), with a 15% share of total exports. It was followed by Italy, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value to Angola stood at -18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (-1.3% per year) and Italy (-21.3% per year).

Export Prices by Country

In 2021, the average wood drilling machine export price amounted to $X per unit, which is down by -20.2% against the previous year. In general, the export price recorded a noticeable reduction. The pace of growth was the most pronounced in 2016 an increase of 142%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Cabo Verde ($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 Cabo Verde (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into Portugal

After two years of decline, purchases abroad of drilling or morticing machines increased by 45% to X units in 2021. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 1,842%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, wood drilling machine imports surged to $X in 2021. In general, imports posted temperate growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,442% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), China (X units) and Turkey (X units) were the main suppliers of wood drilling machine imports to Portugal, together comprising 77% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +94.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of wood drilling machine to Portugal, comprising 80% of total imports. The second position in the ranking was held by Turkey ($X), with an 8.8% share of total imports. It was followed by China, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+93.1% per year) and China (+24.8% per year).

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2021, picking up by 126% against the previous year. In general, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 191% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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