Asia: Working Wire Machine Market 2024

Working Wire Machine Market Size in Asia

For the fourth year in a row, the Asian working wire machine market recorded decline in sales value, which decreased by X% to $X in 2023. In general, consumption showed a pronounced contraction. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Working Wire Machine Production in Asia

In value terms, working wire machine production amounted to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Working Wire Machine Exports

Exports in Asia

Working wire machine exports expanded rapidly to X units in 2023, increasing by X% against the previous year's figure. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, working wire machine exports contracted modestly to $X in 2023. Over the period under review, exports, however, continue to indicate a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. X% of total exports in 2023. The following exporters - India (X units) and Taiwan (Chinese) (X units) - each finished at 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. China (X p.p.) significantly strengthened its position in terms of the total exports, while India and Taiwan (Chinese) saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual growth rate of value in China stood at 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 amounted to $X per unit, waning by X% against the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

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

In 2023, the amount of machines for working wire imported in Asia expanded significantly to X units, growing by X% compared with 2022 figures. In general, imports enjoyed a prominent increase. 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 remained at a lower figure.

In value terms, working wire machine imports rose to $X in 2023. Overall, imports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India was the largest importing country with an import of about X units, which resulted at X% of total imports. Turkey (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%), Thailand (X%) and Nepal (X%). Vietnam (X units), Malaysia (X units), Singapore (X units), the United Arab Emirates (X units) and Indonesia (X units) held a minor 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%), Turkey (X%), Vietnam (X%), the United Arab Emirates (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. India (X p.p.), the Philippines (X p.p.), Turkey (X p.p.) and Nepal (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Thailand and Malaysia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Indonesia ($X) and India ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Vietnam, Thailand, Malaysia, the United Arab Emirates, Singapore, the Philippines and Nepal lagged somewhat behind, together comprising a further X%.

Nepal, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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

The import price in Asia stood at $X per unit in 2023, standing approx. at the previous year. In general, the import price saw a drastic downturn. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 Turkey ($X per unit), while the Philippines ($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