In 2023, Luxembourg led the European import of gear-cutting tools with working parts of materials other than diamond or agglomerated diamond, showing a remarkable increase of 69.24% year-on-year. Slovakia followed with an impressive 188.67% rise. Other notable increases included the United Kingdom (20.05%), Denmark (18.4%), and Italy (14.45%). In contrast, Germany saw a slight decline of 2.62% and other countries like Hungary, Malta, and Croatia faced significant reductions of -15.57%, -23.31%, and -36.9% respectively.
Overall, while some fluctuations occurred, the compound annual growth rate (CAGR) over the last five years suggests a dynamic market influenced by technological advances and demand variations.
Future trends to watch for include technological advancements in gear-cutting tools, shifts in manufacturing hubs due to policy changes, and potential growth in demand from emerging European economies. Monitoring these factors will be crucial for comprehending the direction of imports in this sector.
Top countries in Import of Gear-Cutting Tools with Working Part of Materials Other than Diamond or Agglomerated Diamond Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Luxembourg | 42.64 | 2023 | +20.9% | +69.24% | View data |
| 2 | 2 Slovakia | 11.75 | 2023 | +7.08% | +188.67% | View data |
| 3 | 3 Germany | 8.14 | 2023 | +2.6% | -2.62% | View data |
| 4 | 4 France | 7.52 | 2023 | -1.28% | +6.15% | View data |
| 5 | 5 Belgium | 7.16 | 2023 | +15.27% | +12.5% | View data |
| 6 | 6 Italy | 6.12 | 2023 | +5.7% | +14.45% | View data |
| 7 | 7 Spain | 5.08 | 2023 | +7.45% | +12.53% | View data |
| 8 | 8 United Kingdom | 1.78 | 2023 | -5.55% | +20.05% | View data |
| 9 | 9 Austria | 1.7 | 2023 | +15.59% | -1.56% | View data |
| 10 | 10 Sweden | 1.4 | 2023 | +11.25% | +9.16% | View data |
