Asia: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Asia

The Asian market for turbo, rotary and reciporating displacement compressors expanded slightly to $X in 2022, rising by 3.7% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Asia

In value terms, production of turbo, rotary and reciporating displacement compressors declined to $X in 2022 estimated in export price. In general, production, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 98% against the previous year. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in Asia

In 2022, overseas shipments of turbo, rotary and reciporating displacement compressors decreased by -12.6% to X units for the first time since 2015, thus ending a six-year rising trend. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +50.5% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors declined modestly to $X in 2022. The total export value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $X, and then fell slightly in the following year.

Exports by Country

China dominates compressors structure, resulting at X units, which was approx. 79% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), creating an 8.9% share of total exports. The following exporters - India (X units), Taiwan (Chinese) (X units), Thailand (X units) and Japan (X units) - together made up 9.8% of total exports.

Exports from China increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, India (+7.8%), Thailand (+6.5%), Hong Kong SAR (+4.4%) and Japan (+3.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +7.8% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest turbo, rotary and reciporating displacement compressor supplier in Asia, comprising 60% of total exports. The second position in the ranking was held by Japan ($X), with a 9.5% share of total exports. It was followed by India, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +8.9%. In the other countries, the average annual rates were as follows: Japan (-6.3% per year) and India (+3.1% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, surging by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the other leaders experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in Asia

For the sixth consecutive year, Asia recorded growth in purchases abroad of turbo, rotary and reciporating displacement compressors, which increased by 9.9% to X units in 2022. Overall, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors fell to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 16% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

The countries with the highest levels of imports of turbo, rotary and reciporating displacement compressors in 2022 were Hong Kong SAR (X units), Thailand (X units), India (X units), Japan (X units) and Vietnam (X units), together recording 79% of total import. It was distantly followed by China (X units), achieving a 4.6% share of total imports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +22.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and India ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 43% of total imports. Japan, Vietnam, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 16%.

Vietnam, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, falling by -9.1% against the previous year. In general, the import price saw a abrupt downturn. The growth pace was the most rapid in 2016 when the import price increased by 1.9%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :