Milling Industry Machinery Market

The global milling industry machinery market is expected to see growth in consumption, production, imports, and exports over the next eight years. Consumption is projected to increase with a CAGR of +1.2%, reaching 1.5M units by 2030. Market value is forecasted to rise with a CAGR of +5.4%, reaching $37.3B by 2030. Key consumption, production, and importing countries include India, China, Denmark, and more. China and India lead in exports, while Turkey, China, and India are top exporters with significant growth rates. Overall, the milling industry machinery market is poised for growth and expansion in the near future.

Market Forecast

Driven by increasing demand for milling industry machinery worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $37.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Milling Industry Machinery

Global milling industry machinery consumption skyrocketed to 1.3M units in 2022, picking up by 58% compared with the previous year's figure. In general, consumption posted a resilient increase. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global milling industry machinery market size rose sharply to $24.6B in 2022, growing by 5.2% 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). Overall, consumption recorded a prominent increase. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (306K units), China (224K units) and Denmark (71K units), with a combined 45% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +67.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($17.9B) led the market, alone. The second position in the ranking was taken by Denmark ($1.6B). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at +18.0%. In the other countries, the average annual rates were as follows: Denmark (+66.5% per year) and the United States (+7.1% per year).

In 2022, the highest levels of milling industry machinery per capita consumption was registered in Denmark (12 units per 1000 persons), followed by the Czech Republic (3 units per 1000 persons), Nepal (1.3 units per 1000 persons) and Myanmar (0.9 units per 1000 persons), while the world average per capita consumption of milling industry machinery was estimated at 0.2 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the milling industry machinery per capita consumption in Denmark totaled +66.1%. In the other countries, the average annual rates were as follows: the Czech Republic (-5.0% per year) and Nepal (+14.0% per year).

Production

World Production of Milling Industry Machinery

In 2022, global milling industry machinery production surged to 1.7M units, with an increase of 27% on the year before. Over the period under review, production posted resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 78% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to continue growth in the near future.

In value terms, milling industry machinery production expanded to $5.3B in 2022 estimated in export price. Overall, production recorded a moderate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 59%. Global production peaked at $9B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (722K units), India (552K units) and Denmark (72K units), with a combined 81% share of global production.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +38.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Milling Industry Machinery

In 2022, the amount of milling industry machinery imported worldwide amounted to 603K units, therefore, remained relatively stable against the previous year's figure. Overall, imports saw a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 70%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, milling industry machinery imports rose rapidly to $927M in 2022. Over the period under review, imports, however, showed a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Global imports peaked at $1.1B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, India (106K units), distantly followed by Indonesia (63K units), Myanmar (48K units), Nepal (40K units) and Vietnam (37K units) were the largest importers of milling industry machinery, together constituting 49% of total imports. Cambodia (18K units), the United States (18K units), Lao People's Democratic Republic (18K units), Thailand (16K units), Yemen (16K units), the Philippines (14K units), Bangladesh (13K units) and Nigeria (13K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of +43.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest milling industry machinery importing markets worldwide were India ($77M), Nigeria ($40M) and Indonesia ($38M), together comprising 17% of global imports. The United States, Bangladesh, Thailand, Yemen, Nepal, Vietnam, Myanmar, the Philippines, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 13%.

Among the main importing countries, Yemen, with a CAGR of +45.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average milling industry machinery import price amounted to $1,538 per unit, rising by 6.5% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 46% against the previous year. As a result, import price attained the peak level of $4,482 per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($3,186 per unit), while Myanmar ($157 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.7%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Milling Industry Machinery

After five years of growth, shipments abroad of milling industry machinery decreased by -13.1% to 932K units in 2022. In general, exports, however, saw resilient growth. The growth pace was the most rapid in 2018 when exports increased by 147% against the previous year. Over the period under review, the global exports attained the peak figure at 1.1M units in 2021, and then declined in the following year.

In value terms, milling industry machinery exports reached $854M in 2022. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 3.4%. The global exports peaked at $1.1B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China (499K units) and India (352K units) prevails in exports structure, together making up 91% of total exports. Turkey (28K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +20.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest milling industry machinery supplying countries worldwide were Turkey ($221M), China ($210M) and India ($39M), with a combined 55% share of global exports.

Among the main exporting countries, China, with a CAGR of +3.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average milling industry machinery export price amounted to $917 per unit, with an increase of 15% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $5,157 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Turkey ($7,756 per unit), while India ($111 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform