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

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

The Asian mechanical shovel and excavator market shrank to $X.1B in 2022, dropping by X% against the previous year. Over the period under review, consumption showed a deep setback. The level of consumption peaked at $X.6B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Asia

In value terms, mechanical shovel and excavator production contracted to $X in 2022 estimated in export price. In general, production faced a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of production peaked at $X.6B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Asia

In 2022, approx. X units of mechanical shovels, excavators and shovel loaders were exported in Asia; jumping by X% on 2021. In general, exports showed a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports surged to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X units) and Japan (X units) represented the largest exporters of mechanical shovels, excavators and shovel loaders in Asia, together amounting to near X% of total exports. It was distantly followed by South Korea (X units), generating a X% share of total exports. India (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator supplying countries in Asia were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total exports. India lagged somewhat behind, comprising a further X%.

Among the main exporting countries, India, 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 export price in Asia stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in India ($X per unit) and South Korea ($X per unit), while China ($X per unit) and Japan ($X per unit) were amongst the lowest.

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

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Asia

In 2022, supplies from abroad of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, mechanical shovel and excavator imports soared to $X in 2022. In general, imports, however, showed a slight downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units), followed by the Philippines (X units), Thailand (X units), the United Arab Emirates (X units) and Malaysia (X units) were the major importers of mechanical shovels, excavators and shovel loaders, together constituting X% of total imports. The following importers - Turkey (X units), Vietnam (X units), Kazakhstan (X units), India (X units), Saudi Arabia (X units), Singapore (X units), Taiwan (Chinese) (X units) and Israel (X units) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

In Indonesia, mechanical shovel and excavator imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Turkey ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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