Eastern Asia: Electric Rail Locomotive Market 2024

Electric Rail Locomotive Market Size in Eastern Asia

After four years of decline, the East Asian electric rail locomotive market increased by X% to $X in 2023. Over the period under review, consumption saw a temperate increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Electric Rail Locomotive Production in Eastern Asia

In value terms, electric rail locomotive production amounted to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

Electric Rail Locomotive Exports

Exports in Eastern Asia

In 2023, after four years of growth, there was significant decline in overseas shipments of electric rail locomotives, when their volume decreased by X% to X tons. In general, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2023, the growth of the exports remained at a lower figure.

In value terms, electric rail locomotive exports contracted significantly to $X in 2023. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, China (X tons) represented the largest exporter of electric rail locomotives, comprising X% of total exports. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons). All these countries together took near X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. While the share of South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

In terms of the main exporting countries, Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price saw a pronounced decline. The pace of growth appeared the most rapid in 2016 an increase of X%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Electric Rail Locomotive Imports

Imports in Eastern Asia

In 2023, supplies from abroad of electric rail locomotives decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. In general, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2022, and then contracted remarkably in the following year.

In value terms, electric rail locomotive imports reduced rapidly to $X in 2023. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then contracted sharply in the following year.

Imports by Country

The countries with the highest levels of electric rail locomotive imports in 2023 were Hong Kong SAR (X tons), together resulting at X% of total import.

Hong Kong SAR was also the fastest-growing in terms of the electric rail locomotives imports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of Hong Kong SAR increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported electric rail locomotives in Eastern Asia.

In Hong Kong SAR, electric rail locomotive imports expanded at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price, however, recorded a perceptible expansion. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2023, the rate of growth in terms of prices for Hong Kong SAR amounted to X% per year.

Source: IndexBox Platform