Portugal: Working Wire Machine Market 2022

Working Wire Machine Market Size in Portugal

The Portuguese working wire machine market surged to $X in 2021, jumping by 264% against the previous year. Over the period under review, consumption continues to indicate resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Working Wire Machine Production in Portugal

In value terms, working wire machine production contracted remarkably to $X in 2021 estimated in export price. In general, production saw a deep downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 215% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Working Wire Machine Exports

Exports from Portugal

After two years of growth, shipments abroad of machines for working wire decreased by -1% to X units in 2021. In general, exports, however, recorded a pronounced increase. The growth pace was the most rapid in 2016 with an increase of 466%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports reduced remarkably to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 229%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Morocco (X units) was the main destination for working wire machine exports from Portugal, accounting for a 68% share of total exports. Moreover, working wire machine exports to Morocco exceeded the volume sent to the second major destination, Serbia (X units), fourfold. Romania (X units) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Morocco stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+64.9% per year) and Romania (-35.5% per year).

In value terms, the largest markets for working wire machine exported from Portugal were Morocco ($X), Serbia ($X) and Ukraine ($X), together comprising 87% of total exports.

Among the main countries of destination, Serbia, with a CAGR of +88.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, with a decrease of -18.5% against the previous year. Over the period under review, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2019 when the average export price increased by 163%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Ukraine ($X per unit), while the average price for exports to Mozambique ($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 Serbia (+16.1%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into Portugal

In 2021, working wire machine imports into Portugal surged to X units, with an increase of 108% compared with the previous year. In general, imports showed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 386% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, working wire machine imports surged to $X in 2021. Over the period under review, imports recorded a moderate increase. The growth pace was the most rapid in 2017 with an increase of 424% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), Spain (X units) and New Zealand (X units) were the main suppliers of working wire machine imports to Portugal, together comprising 85% of total imports. These countries were followed by the Czech Republic, Poland and China, which together accounted for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +69.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), New Zealand ($X) and China ($X) constituted the largest working wire machine suppliers to Portugal, with a combined 83% share of total imports. Spain, Poland, the Czech Republic and Germany lagged somewhat behind, together comprising a further 17%.

Spain, with a CAGR of +29.5%, recorded the highest growth rate of 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 2021, the average working wire machine import price amounted to $X per unit, waning by -4.7% against the previous year. Overall, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2018 when the average import price increased by 193% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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