Asia-Pacific: Market for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type 2024

Market Size for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in Asia-Pacific

In 2022, the Asia-Pacific market for elevators and conveyors other than pneumatic, belt- or bucket-type decreased by X% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in Asia-Pacific

In value terms, production of elevators and conveyors other than pneumatic, belt- or bucket-type stood at $X in 2022 estimated in export price. The total output value 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 in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Exports in Asia-Pacific

Exports of elevators and conveyors other than pneumatic, belt- or bucket-type surged to X units in 2022, increasing by X% against the previous year. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, exports of elevators and conveyors other than pneumatic, belt- or bucket-type rose remarkably to $X in 2022. The total export value 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 growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China dominates bucket-type structure, recording X units, which was near X% of total exports in 2022. It was distantly followed by India (X units), comprising a X% share of total exports. Taiwan (Chinese) (X units), South Korea (X units), Singapore (X units), Malaysia (X units) and Australia (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to elevators and conveyors other than pneumatic, belt- or bucket-type exports from China stood at X%. At the same time, India (X%), South Korea (X%), Malaysia (X%), Taiwan (Chinese) (X%) and Singapore (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Australia (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), Singapore (X p.p.) and Australia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest elevators and conveyors other than pneumatic, belt- or bucket-type supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, exports of elevators and conveyors other than pneumatic, belt- or bucket-type expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while India ($X per unit) was amongst the lowest.

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

Imports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Imports in Asia-Pacific

Imports of elevators and conveyors other than pneumatic, belt- or bucket-type shrank to X units in 2022, with a decrease of X% against the previous year. Total imports indicated prominent 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 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, imports of elevators and conveyors other than pneumatic, belt- or bucket-type shrank to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

The countries with the highest levels of imports of elevators and conveyors other than pneumatic, belt- or bucket-type in 2022 were Singapore (X units), Australia (X units), India (X units), Thailand (X units), China (X units), Malaysia (X units), Indonesia (X units), the Philippines (X units), South Korea (X units), Cambodia (X units), Brunei Darussalam (X units) and Taiwan (Chinese) (X units), together reaching X% of total import.

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

In value terms, China ($X) constitutes the largest market for imported elevators and conveyors other than pneumatic, belt- or bucket-type in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with an X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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