Asia-Pacific: Working Wire Machine Market 2024

Working Wire Machine Market Size in Asia-Pacific

The Asia-Pacific working wire machine market contracted to $X in 2023, with a decrease of X% against the previous year. In general, consumption showed a pronounced decrease. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Working Wire Machine Production in Asia-Pacific

In value terms, working wire machine production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production recorded a mild decline. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2023, production growth failed to regain momentum.

Working Wire Machine Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in overseas shipments of machines for working wire, which increased by X% to X units in 2023. Overall, exports showed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, working wire machine exports declined to $X in 2023. In general, exports, however, continue to indicate a mild decline. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China prevails in exports structure, reaching X units, which was approx. X% of total exports in 2023. The following exporters - India (X units) and Taiwan (Chinese) (X units) - each accounted for a X% share of total exports.

China was also the fastest-growing in terms of the machines for working wire exports, with a CAGR of X% from 2012 to 2023. At the same time, India (X%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest working wire machine supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per unit, reducing by X% against the previous year. In general, the export price recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while India ($X per unit) was amongst the lowest.

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

Working Wire Machine Imports

Imports in Asia-Pacific

In 2023, the amount of machines for working wire imported in Asia-Pacific rose rapidly to X units, increasing by X% against the previous year's figure. In general, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2023, the growth of imports failed to regain momentum.

In value terms, working wire machine imports fell to $X in 2023. Overall, imports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India represented the key importer of machines for working wire in Asia-Pacific, with the volume of imports recording X units, which was approx. X% of total imports in 2023. The Philippines (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), Australia (X%), Nepal (X%) and Vietnam (X%). The following importers - Malaysia (X units), Singapore (X units) and Indonesia (X units) - each reached a X% share of total imports.

India was also the fastest-growing in terms of the machines for working wire imports, with a CAGR of X% from 2012 to 2023. At the same time, the Philippines (X%), Nepal (X%), Australia (X%), Vietnam (X%), Singapore (X%) and Thailand (X%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), the Philippines (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.), Thailand (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest working wire machine importing markets in Asia-Pacific were Indonesia ($X), India ($X) and Vietnam ($X), with a combined X% share of total imports. Thailand, Malaysia, Australia, Singapore, the Philippines and Nepal lagged somewhat behind, together comprising a further X%.

Nepal, with a CAGR of X%, 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

In 2023, the import price in Asia-Pacific amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform