Asia: Construction Equipment Blade Market 2024

Construction Equipment Blade Market Size in Asia

In 2022, the Asian construction equipment blade market increased by 41% to $X for the first time since 2013, thus ending a eight-year declining trend. In general, consumption, however, recorded a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Construction Equipment Blade Production in Asia

In value terms, construction equipment blade production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of 32%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Construction Equipment Blade Exports

Exports in Asia

In 2022, the amount of blades for construction equipment exported in Asia declined to X units, waning by -3.1% on 2021 figures. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 58% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, construction equipment blade exports skyrocketed to $X in 2022. Over the period under review, exports saw a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 39%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units), Singapore (X units) and China (X units) represented roughly 79% of total exports in 2022. The following exporters - Indonesia (X units), the United Arab Emirates (X units), Malaysia (X units), South Korea (X units), India (X units) and Palestine (X units) - together made up 14% of total exports.

From 2012 to 2022, the biggest increases were recorded for Palestine (with a CAGR of +30.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. India, South Korea, Malaysia, the United Arab Emirates, Palestine and Indonesia lagged somewhat behind, together accounting for a further 17%.

Palestine, with a CAGR of +28.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, rising by 22% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, construction equipment blade export price increased by +74.4% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 46% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

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 India ($X per unit), while Indonesia ($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 (+7.1%), while the other leaders experienced more modest paces of growth.

Construction Equipment Blade Imports

Imports in Asia

In 2022, purchases abroad of blades for construction equipment increased by 48% to X units, rising for the second consecutive year after seven years of decline. In general, imports, however, continue to indicate a deep contraction. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, construction equipment blade imports surged to $X in 2022. Overall, imports, however, showed a abrupt downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia represented the main importing country with an import of about X units, which recorded 38% of total imports. It was distantly followed by Singapore (X units), Thailand (X units) and the United Arab Emirates (X units), together committing a 27% share of total imports. Turkey (X units), Qatar (X units), the Philippines (X units), Myanmar (X units), Malaysia (X units), Taiwan (Chinese) (X units), Cambodia (X units) and China (X units) followed a long way behind the leaders.

Imports into Indonesia decreased at an average annual rate of -3.1% from 2012 to 2022. At the same time, Thailand (+18.9%), Cambodia (+14.8%), Taiwan (Chinese) (+12.4%), Singapore (+3.6%), Malaysia (+2.3%) and the United Arab Emirates (+1.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +18.9% from 2012-2022. By contrast, China (-4.8%), Turkey (-6.5%), Qatar (-8.4%), Myanmar (-11.4%) and the Philippines (-18.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Singapore, Thailand, the United Arab Emirates, Taiwan (Chinese), Malaysia and Cambodia increased by +20, +12, +5.8, +3.3, +2.2, +1.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported blades for construction equipment in Asia, comprising 47% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by the Philippines, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at -2.3%. In the other countries, the average annual rates were as follows: Singapore (+0.5% per year) and the Philippines (-17.2% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, picking up by 26% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, construction equipment blade import price decreased by -2.6% against 2020 indices. The growth pace was the most rapid in 2018 when the import price increased by 46%. Over the period under review, import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Qatar ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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