Malaysia: Working Wire Machine Market 2024

Working Wire Machine Market Size in Malaysia

In 2022, the Malaysian working wire machine market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, faced a deep reduction. Working wire machine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Working Wire Machine Exports

Exports from Malaysia

In 2022, the amount of machines for working wire exported from Malaysia declined markedly to X units, reducing by X% on the previous year's figure. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then shrank remarkably in the following year.

In value terms, working wire machine exports contracted notably to $X in 2022. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X units), the Philippines (X units) and Vietnam (X units) were the main destinations of working wire machine exports from Malaysia, together comprising X% of total exports. Moreover, working wire machine exports in Hong Kong SAR exceeded the figures recorded by the second-largest exporter, the Philippines, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Hong Kong SAR ($X) and India ($X) constituted the largest markets for working wire machine exported from Malaysia worldwide, with a combined X% share of total exports. Australia, New Zealand, the United States, the Philippines, Vietnam, Thailand and Singapore lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible contraction. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Working Wire Machine Imports

Imports into Malaysia

In 2022, approx. X units of machines for working wire were imported into Malaysia; increasing by X% compared with the previous year's figure. In general, imports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, working wire machine imports reached $X in 2022. Over the period under review, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X units) constituted the largest working wire machine supplier to Malaysia, with a X% share of total imports. Moreover, working wire machine imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, the largest working wire machine suppliers to Malaysia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports. The United States, Germany and Italy lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, working wire machine import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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