ASEAN: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in ASEAN

The ASEAN mechanical shovel and excavator market shrank to $X.7B in 2022, reducing by X% against the previous year. In general, consumption faced a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Mechanical Shovels, Excavators And Shovel Loaders in ASEAN

In value terms, mechanical shovel and excavator production reduced to $X.5B in 2022 estimated in export price. In general, production continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X.6B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in ASEAN

In 2022, shipments abroad of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports saw slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2022. Over the period under review, exports recorded a temperate increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

In 2022, Indonesia (X units) and Thailand (X units) were the major exporters of mechanical shovels, excavators and shovel loaders in ASEAN, together creating X% of total exports. It was distantly followed by Singapore (X units), creating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest mechanical shovel and excavator supplying countries in ASEAN were Thailand ($X), Indonesia ($X) and Singapore ($X), together comprising X% of total exports.

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, with an increase of X% against the previous year. Export price indicated a slight 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, mechanical shovel and excavator export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the export price figures.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in ASEAN

In 2022, purchases abroad of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator imports soared to $X in 2022. Overall, imports showed a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Indonesia (X units), distantly followed by the Philippines (X units), Thailand (X units), Malaysia (X units), Vietnam (X units) and Singapore (X units) were the major importers of mechanical shovels, excavators and shovel loaders, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constitutes the largest market for imported mechanical shovels, excavators and shovel loaders in ASEAN, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

In Indonesia, mechanical shovel and excavator imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, which is down by X% against the previous year. Overall, the import price saw a perceptible contraction. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, 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 Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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