Asia: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Asia

In 2023, the Asian gear cutting machine market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption showed a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

Gear Cutting Machine Production in Asia

In value terms, gear cutting machine production rose slightly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a mild decrease. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Gear Cutting Machine Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of gear cutting, gear grinding or gear finishing machines, which increased by X% to X units in 2023. Over the period under review, exports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, gear cutting machine exports rose rapidly to $X in 2023. In general, exports, however, saw a pronounced setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Japan was the main exporter of gear cutting, gear grinding or gear finishing machines in Asia, with the volume of exports resulting at X units, which was approx. X% of total exports in 2023. It was distantly followed by China (X units), committing a X% share of total exports. India (X units) and South Korea (X units) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to gear cutting machine exports from Japan stood at X%. At the same time, South Korea (X%) and China (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, India (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest gear cutting machine supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In Japan, gear cutting machine exports plunged by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Gear Cutting Machine Imports

Imports in Asia

In 2023, overseas purchases of gear cutting, gear grinding or gear finishing machines decreased by X% to X units, falling for the second consecutive year after two years of growth. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports soared to $X in 2023. Total imports indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 when imports increased by X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

In 2023, Taiwan (Chinese) (X units) was the largest importer of gear cutting, gear grinding or gear finishing machines, comprising X% of total imports. Japan (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%). The following importers - Singapore (X units) and India (X units) - each resulted at a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to gear cutting machine imports into Taiwan (Chinese) stood at X%. At the same time, Singapore (X%) and India (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. Taiwan (Chinese) (X p.p.), Singapore (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total imports, while Japan and South Korea saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, India ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Taiwan (Chinese) and Singapore lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per unit, surging by X% against the previous year. In general, the import price enjoyed a slight expansion. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform