Mechanical Engineering: the BLOC markets in the sector of tools and equipment for industry
The identification of markets in an acceleration phase to face the expected slowdown in world trade in the sector
Published by Marcello Antonioni. .
Marketselection Metal industry Foreign markets Uncertainty International marketing
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The dynamics of world trade in industrial equipment and tools
One of the most important sectors of mechanical engineering is that of equipment and tools for industry1. This is a sector that is showing particularly accelerated dynamics of world trade. At the end of 2022, the value of these trades is estimated to have exceeded 492 billion euros, the new absolute maximum point of the sector.
Even when measured at constant prices, world trade showed last year the achievement of a new maximum point, a good 22 percentage points higher than five years earlier (corresponding to +41% in euro values).
Considering the period from the outbreak of the pandemic to today, the sector has been able to achieve an overall increase in world trade flows of 27 percent in euro values and 16 percent at constant prices.
All the main segments have largely recovered
their pre-pandemic levels...
Pre-final 2022, all the main segments of the Equipment and Tools for industry sector show world trade levels, both in euro values and in quantities, higher (even significantly) than pre-pandemic levels.
In particular, the lifting and handling equipment segments shows the most significant increases compared to 2019 levels, both in values in euro (+43.4%) and in values at constant prices (+30.1%).
Another segments that shows levels significantly higher than the pre-pandemic ones is that of electromechanical tools (+40.2% in euro values; +23.6% at constant prices).
In the 2020-2022 period also pumps and filters (+35.2% in euro values; +15.5% % at constant prices) and measuring instruments (+24.3% in euro values; +10.6% at constant prices) showed growth in double-digit percentages (both at current prices and constant prices).
World Trade in Industrial Tools and Equipment
| Level 2022 | % changes at current prices |
% changes at constant prices |
|||
| Segment | (Bn €) | 2022/2021 | 2022/2019 | 2022/2021 | 2022/2019 |
| Measuring instruments | 193.4 | +20.4 | +24.3 | + 7.5 | +10.6 |
|---|---|---|---|---|---|
| Tools and molds | 76.5 | +12.3 | +15.0 | + 1.8 | +10.4 |
| Lifting and handling | 71.6 | +31.5 | +43.4 | +24.3 | +30.1 |
| Pumps and filters | 67.4 | +18.2 | +35.2 | + 8.7 | +15.5 |
| Electromechanical tools | 39.2 | +11.6 | +40.2 | - 0.8 | +23.6 |
| Other equipment and tools | 44.4 | +31.3 | +38.6 | - 3.7 | +18.6 |
| TOTAL | 492.4 | +19.9 | +28.2 | + 8.5 | +15.7 |
Source: ExportPlanning-Annual Trade Flows Datamart
.. thanks to the presence of numerous BLue OCean (BLOC) markets in the acceleration phase.
The BLOC markets
Measuring instruments
In 2022, world trade in the measuring instruments2 segment exceeded 193 billion euros (+37.8 billion compared to 2019). This performance originates in several accelerating markets in its imports, measured in values at constant prices.
Some of the key BLOC (BLue OCean) markets in the segment are as follows:- India: with its 10.9 billion euros in pre-final 2022 it is the first import market in the segment in the world. As shown in the graph below (with imports expressed in values at constant prices), there is a very favorable growth trend in this market over the last decade; in the last five years (2022/2017), in particular, there has been an overall increase in imports of almost 60 percentage points in values at constant prices;
- Senegal: with 167 million euros in 2022, it is the 59th world importer in the segment, but with very accelerated growth dynamics, as demonstrated by an overall performance in the last five years (2022/ 2017) by +107 per cent in values at constant prices (see the graph below).
Measuring instruments: selection of BLOC markets
| INDIA | SENEGAL |
 |
 |
Source: ExportPlanning-Annual Trade Flows Datamart
Tools and molds
In 2022, world trade in the tools and molds3 segment reached almost 77 billion euros (+10 billion compared to 2019). This performance originates in several accelerating markets in its imports, measured in values at constant prices.
Some of the key BLOC (BLue OCean) markets in the segment are as follows:- India: with its almost 2 billion euros in pre-final 2022, it is the 11th import market in the segment in the world. As shown in the graph below (with imports expressed in values at constant prices), there is a very favorable growth trend in this market, which in the last five years (2022/2017) recorded an overall increase in imports of over 44 points percentages in values at constant prices;
- Bulgaria: with 168 million euros in 2022 pre-final balance, it is the 60th world importer in the segment; as documented by the graph below, the acceleration phase in progress is evident (+43% at constant prices in the last five-year period examined).
Tools and molds: selection of BLOC markets
| INDIA | BULGARIA |
 |
 |
Source: ExportPlanning-Annual Trade Flows Datamart
Lifting and handling
In 2022, world trade in the lifting and handling equipment4 segment reached close to 72 billion euros (+21.7 billion compared to 2019). This performance originates in several accelerating markets in its imports, measured in values at constant prices.
Some of the key BLOC (BLue OCean) markets in the segment are as follows:- United States: with its 10.9 billion euros in pre-final 2022 it is the first import market in the segment in the world. As shown in the graph below (with imports expressed in values at constant prices), there is a very favorable growth trend in this market over the last decade; in the last five years (2022/2017), in particular, there has been an overall increase in imports of almost 60 percentage points in values at constant prices;
- Vietnam: with 1.2 billion euros at the end of 2022, it is the 12th world importer of the segment, growing by more than 63 percentage points in values in euros in the last five-year period examined (2022/ 2017: see the graph below).
Lifting and handling: selection of BLOC markets
| UNITED STATES | VIETNAM |
 |
 |
Source: ExportPlanning-Annual Trade Flows Datamart
Pumps and filters
In 2022, world trade in the pumps and filters5 segment exceeded 67 billion euros (+17.5 billion compared to 2019). This performance originates in several accelerating markets in its imports, measured in values at constant prices.
Some of the key BLOC (BLue OCean) markets in the segment are as follows:- Poland: with 1.4 billion euros in 2022, it is the 14th world importer in the segment, with very accelerated growth dynamics, as evidenced by an overall performance in the last five years (2022/2017 ) by +82 per cent in values at constant prices;
- Taiwan: with over 1.3 billion euros in pre-final 2022, it is the 17th import market in the segment in the world. As shown in the graph below (with imports expressed in values at constant prices), there is a very favorable growth trend in this market, with an overall increase in imports in the last five-year period of around 89 percentage points in values at constant prices.
Pumps and filters: selection of BLOC markets
| POLAND | TAIWAN |
 |
 |
Source: ExportPlanning-Annual Trade Flows Datamart
Electromechanical tools
In 2022, world trade in the electromechanical tools6 segment exceeded 39 billion euros (+11.2 billion compared to 2019). This performance originates in several accelerating markets in its imports, measured in values at constant prices.
Some of the key BLOC (BLue OCean) markets in the segment are as follows:- Poland: with over 1 billion euros at the end of 2022, it is the 10th world importer in the segment; in the most recent period this market has experienced a very rapid rise (+72% at constant prices in the 2017-2022 period; see the graph below);
- Spain: with 0.8 billion euros in 2022, it is the 14th import market in the segment in the world. As shown in the graph below (with imports expressed in values at constant prices), there is a very favorable growth trend in this market over the last decade; in the last five years, in particular, there was an overall increase in imports of 89 percentage points in values at constant prices.
Electromechanical tools: selection of BLOC markets
| POLAND | SPAIN |
 |
 |
Source: ExportPlanning-Annual Trade Flows Datamart
Conclusions
After a particularly dynamic two-year period 2021-2022 for world trade in tools and equipment for industry (+16.4% annual average, in euro values), the prospects for the next four years ( 2023-2026) are decidedly more selective, with average annual growth expectations in the order of +4.4% in euro values (see the graph below)7.
In such a context of greater selectivity, the search for cyclically resilient BLue OCean (BLOC) foreign markets should be a priority for exporting companies in the sector .
The instrumentation made available in ExportPlanning, in the Market Selection tool, can allow you to select the so-called BLOC markets, during the acceleration phase of your imports.
1) For a list of the segments analysed, please refer to the relative sectoral description.
2) For a list of the products included therein, please refer to the relevant segment description.
3) For a list of the products included therein, please refer to the relevant segment description.
4) For a list of the products included therein, please refer to the relevant segment description.
5) For a list of the products included therein, please refer to the relevant segment description.
6) For a list of the products included therein, please refer to the relevant segment description.
7) These are sector forecasts formulated by StudiaBo, within the ExportPlanning Information System, based on the latest macroeconomic scenario of the International Monetary Fund.
