Asia: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Asia

The Asian trailer and semi-trailer market expanded remarkably to $X in 2022, rising by 12% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Trailer And Semi-Trailer Production in Asia

In value terms, trailer and semi-trailer production dropped slightly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.7% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 14%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports in Asia

In 2022, shipments abroad of cargo trailers and semi-trailers decreased by -1.8% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 65%. The volume of export peaked at X units in 2021, and then shrank modestly in the following year.

In value terms, trailer and semi-trailer exports surged to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +60.5% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

In 2022, China (X units) represented the major exporter of cargo trailers and semi-trailers, making up 82% of total exports. It was distantly followed by Turkey (X units), creating a 10% share of total exports. The following exporters - Israel (X units) and the United Arab Emirates (X units) - each resulted at a 3.7% share of total exports.

China was also the fastest-growing in terms of the cargo trailers and semi-trailers exports, with a CAGR of +15.6% from 2012 to 2022. At the same time, Israel (+10.3%), Turkey (+7.5%) and the United Arab Emirates (+5.8%) displayed positive paces of growth. China (+22 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -5.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, together comprising 93% of total exports. These countries were followed by Israel, which accounted for a further 1.6%.

Among the main exporting countries, Israel, with a CAGR of +13.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, jumping by 18% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2014 when the export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 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 Turkey ($X per unit), while China ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports in Asia

In 2022, after three years of growth, there was significant decline in purchases abroad of cargo trailers and semi-trailers, when their volume decreased by -9.3% to X units. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. As a result, imports attained the peak of X units, and then dropped in the following year.

In value terms, trailer and semi-trailer imports stood at $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 25%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mongolia (X units), distantly followed by Turkey (X units) and Kazakhstan (X units) were the key importers of cargo trailers and semi-trailers, together creating 42% of total imports. Afghanistan (X units), Indonesia (X units), the United Arab Emirates (X units), Japan (X units), Vietnam (X units), the Philippines (X units), Oman (X units), Iraq (X units), Uzbekistan (X units) and Azerbaijan (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +58.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest trailer and semi-trailer importing markets in Asia were Mongolia ($X), Vietnam ($X) and Turkey ($X), together comprising 27% of total imports. Kazakhstan, Uzbekistan, Japan, the United Arab Emirates, Oman, Azerbaijan, Iraq, the Philippines, Indonesia and Afghanistan lagged somewhat behind, together accounting for a further 37%.

Among the main importing countries, Uzbekistan, with a CAGR of +68.3%, saw the highest rates of growth with regard to the value of imports, 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, surging by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 an increase of 33% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Vietnam ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform