Asia: Accumulator Market 2024

Accumulator Market Size in Asia

The Asian accumulator market expanded significantly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Accumulator Production in Asia

In value terms, accumulator production contracted modestly to $X,982.5B in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X,079.4B in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Accumulator Exports

Exports in Asia

In 2022, overseas shipments of electric accumulators increased by X% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, exports enjoyed a resilient increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, accumulator exports soared to $X in 2022. In general, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporting country with an export of around X units, which recorded X% of total exports. It was distantly followed by Hong Kong SAR (X units) and Singapore (X units), together generating a X% share of total exports. Thailand (X units), Taiwan (Chinese) (X units), Malaysia (X units) and South Korea (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to accumulator exports from China stood at X%. At the same time, Thailand (X%), Malaysia (X%), Taiwan (Chinese) (X%), Singapore (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. From 2012 to 2022, the share of China, Thailand and Singapore increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest accumulator supplier in Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

In China, accumulator exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, growing by X% against the previous year. Export price indicated a strong 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, accumulator export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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

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

Accumulator Imports

Imports in Asia

After six years of growth, purchases abroad of electric accumulators decreased by X% to X units in 2022. Total imports indicated temperate growth from 2012 to 2022: its volume 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, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, accumulator imports rose significantly to $X in 2022. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Hong Kong SAR was the main importing country with an import of around X units, which finished at X% of total imports. Malaysia (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), Singapore (X%), China (X%), India (X%), Vietnam (X%) and Taiwan (Chinese) (X%).

Imports into Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), South Korea (X%), Malaysia (X%), India (X%), Singapore (X%), China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.), South Korea (X p.p.), Vietnam (X p.p.) and India (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest accumulator importing markets in Asia were South Korea ($X), Vietnam ($X) and Hong Kong SAR ($X), together comprising X% of total imports.

Vietnam, with a CAGR of X%, recorded 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 2022, surging by X% against the previous year. Import price indicated a prominent expansion 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, accumulator import price increased by X% against 2012 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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