Electroplating Machine Market

The global market for electroplating machines is forecasted to contract over the period from 2022 to 2030, with a decrease in both volume and value. Consumption of machines saw a slight shrinkage in 2022, with key countries like the Philippines, United States, and Singapore leading in consumption. Production and imports also showed noticeable trends, with Singapore being the largest producer and exporter. Export prices saw a significant decrease in 2022, with China remaining the largest supplier worldwide.

Market Forecast

Depressed by shrinking demand for electroplating machine worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -4.2% for the period from 2022 to 2030, which is projected to depress the market volume to 14M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market value to $32.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2022, consumption of machines for electroplating, electrolysis or electrophoresis decreased by -7.3% to 19M units, falling for the second year in a row after two years of growth. Overall, consumption showed a slight shrinkage. The pace of growth appeared the most rapid in 2020 when the consumption volume increased by 7.1%. As a result, consumption reached the peak volume of 25M units. From 2021 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global electroplating machine market revenue contracted notably to $32.1B in 2022, which is down by -21.5% 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). Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, the global market reached the maximum level at $76.7B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the Philippines (7.7M units), the United States (5M units) and Singapore (2.8M units), together comprising 81% of global consumption.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +77.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the Philippines ($8.3B), the United States ($5.3B) and Singapore ($950M) constituted the countries with the highest levels of market value in 2022, together accounting for 45% of the global market.

The Philippines, with a CAGR of +77.7%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of electroplating machine per capita consumption was registered in Singapore (486 units per 1000 persons), followed by the Philippines (68 units per 1000 persons), Australia (36 units per 1000 persons) and the United States (15 units per 1000 persons), while the world average per capita consumption of electroplating machine was estimated at 2.4 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the electroplating machine per capita consumption in Singapore totaled -18.0%. In the other countries, the average annual rates were as follows: the Philippines (+75.0% per year) and Australia (+6.1% per year).

Production

World Production of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2022, approx. 25M units of machines for electroplating, electrolysis or electrophoresis were produced worldwide; with an increase of 2.2% against the previous year. Overall, production, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13% against the previous year. Global production peaked at 36M units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, electroplating machine production declined to $10.6B in 2022 estimated in export price. Over the period under review, production, however, showed a deep downturn. The growth pace was the most rapid in 2021 when the production volume increased by 6.8%. Over the period under review, global production attained the peak level at $19.8B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

Singapore (22M units) remains the largest electroplating machine producing country worldwide, comprising approx. 88% of total volume. Moreover, electroplating machine production in Singapore exceeded the figures recorded by the second-largest producer, China (989K units), more than tenfold.

In Singapore, electroplating machine production contracted by an average annual rate of -3.6% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (-1.2% per year) and the United States (+12.1% per year).

Imports

World Imports of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2022, approx. 18M units of machines for electroplating, electrolysis or electrophoresis were imported worldwide; with an increase of 80% compared with the previous year. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 110%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, electroplating machine imports amounted to $1.7B in 2022. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

The Philippines (7.7M units) and the United States (6.4M units) dominates imports structure, together achieving 78% of total imports. Singapore (1.1M units) took a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by Australia (5.2%). Malaysia (676K units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +95.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($183M) constitutes the largest market for imported machines for electroplating, electrolysis or electrophoresis worldwide, comprising 11% of global imports. The second position in the ranking was taken by Malaysia ($43M), with a 2.5% share of global imports. It was followed by Australia, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +8.6%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+4.7% per year) and Australia (+20.7% per year).

Import Prices By Country

In 2022, the average electroplating machine import price amounted to $96 per unit, which is down by -38.1% against the previous year. Overall, the import price recorded a precipitous decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 5.8%. Global import price peaked at $1,477 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($64 per unit), while the Philippines ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+13.3%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Machines For Electroplating, Electrolysis Or Electrophoresis

For the fourth year in a row, the global market recorded growth in shipments abroad of machines for electroplating, electrolysis or electrophoresis, which increased by 71% to 24M units in 2022. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 244% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electroplating machine exports rose to $1.3B in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The global exports peaked at $1.3B in 2012; afterwards, it flattened through to 2022.

Exports By Country

Singapore dominates exports structure, amounting to 21M units, which was near 84% of total exports in 2022. It was distantly followed by the United States (2.2M units), creating a 9.1% share of total exports. China (428K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to electroplating machine exports from Singapore stood at +4.2%. At the same time, the United States (+36.5%) and China (+5.6%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.5% from 2012-2022. The United States (+8.4 p.p.) significantly strengthened its position in terms of the global exports, while Singapore saw its share reduced by -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($338M) remains the largest electroplating machine supplier worldwide, comprising 26% of global exports. The second position in the ranking was taken by the United States ($129M), with a 9.9% share of global exports.

In China, electroplating machine exports increased at an average annual rate of +4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.4% per year) and Singapore (+13.2% per year).

Export Prices By Country

The average electroplating machine export price stood at $53 per unit in 2022, which is down by -39% against the previous year. Overall, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2013 an increase of 1,355%. Over the period under review, the average export prices reached the maximum at $1,324 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 China ($790 per unit), while Singapore ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform