Puerto Rico: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Puerto Rico

The Puerto Rican gear cutting machine market amounted to less than $X in 2021, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern.

Gear Cutting Machine Exports

Exports from Puerto Rico

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Puerto Rico stood at less than X units, approximately mirroring the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern.

In value terms, gear cutting machine exports totaled less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

Japan prevails in exports structure, accounting for X units, which was approx. 65% of total exports in 2021. It was distantly followed by China (X units) and Italy (X units), together mixing up a 17% share of total exports. The following exporters - Germany (X units), India (X units) and the United States (X units) - together made up 7.7% of total exports.

From 2012 to 2021, average annual rates of growth with regard to gear cutting machine exports from Japan stood at +4.0%. At the same time, Italy (+13.2%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.2% from 2012-2021. By contrast, the United States (-6.8%), China (-8.1%), India (-21.7%) and Germany (-30.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan and Italy increased by +43 and +6.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest gear cutting machine supplier from Puerto Rico, comprising 56% of global exports. The second position in the ranking was taken by Japan ($X), with a 15% share of global exports. It was followed by the United States, with a 5.2% share.

In Germany, gear cutting machine exports plunged by an average annual rate of -4.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-8.0% per year) and the United States (-8.3% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, stabilizing at the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per thousand units), while India ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+36.2%), while the other leaders experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Puerto Rico

In 2021, gear cutting machine imports into Puerto Rico amounted to less than X units, remaining constant against 2020 figures. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, gear cutting machine imports stood at less than $X in 2021. In general, imports recorded a relatively flat trend pattern.

Imports by Country

Nigeria (X units) and Germany (X units) were the key importers of gear cutting, gear grinding or gear finishing machines in 2021, resulting at near 29% and 0.1% of total imports, respectively. South Korea (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (9.2%), Japan (8%), Indonesia (6.9%), Italy (6.7%) and Qatar (0.6%). The following importers - Uzbekistan (X units), Vietnam (X units) and Egypt (X units) - together made up 8.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to gear cutting, gear grinding or gear finishing machines imports into Nigeria and Germany stood at +79.1% and -54.8%, respectively. At the same time, Uzbekistan (+638.1%), Italy (+43.5%), Taiwan (Chinese) (+39.0%), Vietnam (+24.9%) and Japan (+9.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the world, with a CAGR of +638.1% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Qatar (-9.2%), Indonesia (-14.4%) and Egypt (-38.8%) illustrated a downward trend over the same period. While the share of Nigeria (+29 p.p.), Taiwan (Chinese) (+9 p.p.), Italy (+6.5 p.p.), Japan (+6 p.p.), South Korea (+4.6 p.p.), Uzbekistan (+4.2 p.p.) and Vietnam (+3.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Egypt (-7.8 p.p.), Indonesia (-9 p.p.) and Germany (-42.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), South Korea ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 13% of total imports. Taiwan (Chinese), Italy, Uzbekistan, Vietnam, Indonesia, Nigeria, Egypt and Qatar lagged somewhat behind, together comprising a further 10%.

Uzbekistan, with a CAGR of +278.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, approximately mirroring the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per thousand units), while Nigeria ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+94.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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