Eastern Asia: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Eastern Asia

The East Asian electric rotary converter market skyrocketed to $X in 2021, with an increase of 27% against the previous year. Overall, consumption saw modest growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Electric Rotary Converter Production in Eastern Asia

In value terms, electric rotary converter production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 5.8%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Electric Rotary Converter Exports

Exports in Eastern Asia

In 2021, overseas shipments of electric rotary converters decreased by -61.1% to X units, falling for the fourth year in a row after three years of growth. Overall, exports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2015 with an increase of 1,336%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, electric rotary converter exports reduced dramatically to $X in 2021. Over the period under review, exports saw a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 18% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR dominates exports structure, resulting at X units, which was near 95% of total exports in 2021. It was distantly followed by China (X units), constituting a 4.6% share of total exports.

Hong Kong SAR was also the fastest-growing in terms of the electric rotary converters exports, with a CAGR of +5.8% from 2012 to 2021. China (-3.4%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-4.1 p.p.) displayed negative dynamics.

In value terms, China ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, China, with a CAGR of -8.3%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, approximately mirroring the previous year. Over the period under review, the export price recorded a sharp setback. The most prominent rate of growth was recorded in 2020 an increase of 38%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per unit), while Hong Kong SAR totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-5.0%).

Electric Rotary Converter Imports

Imports in Eastern Asia

Electric rotary converter imports reduced to X units in 2021, which is down by -4.3% against the previous year. Over the period under review, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 635% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, electric rotary converter imports declined to $X in 2021. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 601%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR represented the key importer of electric rotary converters in Eastern Asia, with the volume of imports accounting for X units, which was near 71% of total imports in 2021. Japan (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (12%).

Imports into Hong Kong SAR increased at an average annual rate of +19.3% from 2012 to 2021. At the same time, Japan (+70.6%) and South Korea (+13.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +70.6% from 2012-2021. From 2012 to 2021, the share of Japan increased by +15 percentage points.

In value terms, Japan ($X) constitutes the largest market for imported electric rotary converters in Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Japan totaled +43.6%. In the other countries, the average annual rates were as follows: South Korea (+10.4% per year) and Hong Kong SAR (+0.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, shrinking by -8.5% against the previous year. Overall, the import price recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 an increase of 253% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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