Asia: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Asia

In 2022, after three years of decline, there was growth in the Asian underground continuous-action elevator market, when its value increased by X% to $X.3B. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X.1B. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Underground Continuous-Action Elevator Production in Asia

In value terms, underground continuous-action elevator production contracted modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X.2B. From 2019 to 2022, production growth remained at a lower figure.

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Underground Continuous-Action Elevator Exports

Exports in Asia

In 2022, overseas shipments of underground continuous-action elevators and conveyors were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator exports soared to $X in 2022. Overall, exports, however, showed a noticeable contraction. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the main exporting country with an export of around X units, which reached X% of total exports. India (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%) and Turkey (X%).

China experienced a relatively flat trend pattern with regard to volume of exports of underground continuous-action elevators and conveyors. At the same time, Turkey (X%) and India (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, China and Turkey increased by X, X and X percentage points, respectively.

In value terms, China ($X) remains the largest underground continuous-action elevator supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the export price saw a slight decrease. The pace of growth was the most pronounced in 2018 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Underground Continuous-Action Elevator Imports

Imports in Asia

In 2022, overseas purchases of underground continuous-action elevators and conveyors 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, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2016 when imports increased by X%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, underground continuous-action elevator imports skyrocketed to $X in 2022. Overall, imports, however, saw a deep slump. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sri Lanka (X units), Kazakhstan (X units), Turkey (X units) and Singapore (X units) was the major importer of underground continuous-action elevators and conveyors in Asia, achieving X% of total import. It was distantly followed by the Philippines (X units), creating a X% share of total imports. Qatar (X units), China (X units), Indonesia (X units), Thailand (X units), Malaysia (X units) and Mongolia (X units) followed a long way behind the leaders.

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

In value terms, China ($X) constitutes the largest market for imported underground continuous-action elevators and conveyors in Asia, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

In China, underground continuous-action elevator imports shrank by 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: Kazakhstan (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the 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 ($X per unit), while Qatar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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