Cable-Making Machine Market

The article discusses the projected growth of the global market for rope or cable-making machines over the period from 2022 to 2030. Consumption and production trends are analyzed, with a focus on key players such as the United States, China, and Singapore. The article highlights significant fluctuations in both consumption and production volumes, as well as import and export patterns. The increase in average import prices and the growth of exports are also detailed, providing a comprehensive overview of the market dynamics.

Market Forecast

Driven by increasing demand for rope or cable-making machines 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 +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 452K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $2.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Rope Or Cable-Making Machines

Global cable-making machine consumption fell slightly to 369K units in 2022, approximately equating the year before. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +90.0% against 2020 indices. As a result, consumption reached the peak volume of 374K units, and then contracted modestly in the following year.

The global cable-making machine market revenue fell to $2B in 2022, waning by -11.1% 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, however, recorded a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $2.3B in 2021, and then dropped in the following year.

Consumption By Country

The country with the largest volume of cable-making machine consumption was the United States (203K units), comprising approx. 55% of total volume. Moreover, cable-making machine consumption in the United States exceeded the figures recorded by the second-largest consumer, the Philippines (24K units), eightfold. China (18K units) ranked third in terms of total consumption with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume in the United States amounted to +16.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: the Philippines (+23.1% per year) and China (-6.2% per year).

In value terms, the largest cable-making machine markets worldwide were the United States ($202M), China ($175M) and South Korea ($113M), together accounting for 24% of the global market. The Philippines, Australia, Spain, the UK, the Netherlands and Singapore lagged somewhat behind, together comprising a further 7.8%.

The UK, with a CAGR of +41.8%, recorded the highest rates of growth with regard to market size among 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 cable-making machine per capita consumption was registered in Singapore (2,615 units per million persons), followed by the Netherlands (738 units per million persons), the United States (604 units per million persons) and South Korea (319 units per million persons), while the world average per capita consumption of cable-making machine was estimated at 47 units per million persons.

From 2012 to 2022, the average annual rate of growth in terms of the cable-making machine per capita consumption in Singapore amounted to -11.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+2.1% per year) and the United States (+15.6% per year).

Production

World Production of Rope Or Cable-Making Machines

Global cable-making machine production reduced dramatically to 152K units in 2022, falling by -27.1% against the year before. Over the period under review, production recorded a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 24%. Global production peaked at 404K units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, cable-making machine production shrank slightly to $1.9B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 12%. As a result, production attained the peak level of $2B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (41K units) constituted the country with the largest volume of cable-making machine production, accounting for 27% of total volume. Moreover, cable-making machine production in China exceeded the figures recorded by the second-largest producer, South Korea (19K units), twofold. The third position in this ranking was taken by Singapore (18K units), with a 12% share.

In China, cable-making machine production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and Singapore (-22.7% per year).

Imports

World Imports of Rope Or Cable-Making Machines

Global cable-making machine imports skyrocketed to 287K units in 2022, rising by 24% on 2021 figures. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 229% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cable-making machine imports expanded sharply to $607M in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

The United States prevails in imports structure, resulting at 204K units, which was near 71% of total imports in 2022. It was distantly followed by the Philippines (21K units), committing a 7.2% share of total imports. Singapore (12K units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +16.1% from 2012 to 2022. At the same time, the Philippines (+63.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +63.2% from 2012-2022. By contrast, Singapore (-10.7%) illustrated a downward trend over the same period. While the share of the United States (+36 p.p.) and the Philippines (+7.1 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Singapore (-25 p.p.) displayed negative dynamics.

In value terms, the United States ($144M) constitutes the largest market for imported rope or cable-making machines worldwide, comprising 24% of global imports. The second position in the ranking was held by the Philippines ($15M), with a 2.5% share of global imports.

In the United States, cable-making machine imports increased at an average annual rate of +10.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+28.1% per year) and Singapore (-13.0% per year).

Import Prices By Country

In 2022, the average cable-making machine import price amounted to $2,117 per unit, which is down by -10.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2018 when the average import price increased by 27%. As a result, import price attained the peak level of $6,226 per unit. From 2019 to 2022, the average import prices remained at a 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 the Philippines ($746 per unit), while Singapore ($89 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-2.5%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Rope Or Cable-Making Machines

In 2022, overseas shipments of rope or cable-making machines increased by 4.8% to 69K units, rising for the second consecutive year after four years of decline. In general, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 42%. The global exports peaked at 284K units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cable-making machine exports expanded markedly to $749M in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports By Country

In 2022, China (23K units), distantly followed by Singapore (15K units) and Canada (5.2K units) were the largest exporters of rope or cable-making machines, together comprising 62% of total exports. The following exporters - India (2.7K units), South Korea (2.5K units), France (2.4K units), Italy (2.2K units), the UK (2K units), the United States (1.7K units), Spain (1.5K units) and Slovakia (1.2K units) - together made up 23% of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +52.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($163M) remains the largest cable-making machine supplier worldwide, comprising 22% of global exports. The second position in the ranking was held by Italy ($79M), with an 11% share of global exports. It was followed by Canada, with a 3.7% share.

In China, cable-making machine exports increased at an average annual rate of +7.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+0.3% per year) and Canada (+9.4% per year).

Export Prices By Country

The average cable-making machine export price stood at $10,836 per unit in 2022, picking up by 4.6% against the previous year. Over the period under review, the export price saw a prominent expansion. The growth pace was the most rapid in 2013 an increase of 130%. Over the period under review, the average export prices attained the peak figure at $12,600 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($36,616 per unit), while Singapore ($96 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform