Asia: Loading Machinery Market 2024

Loading Machinery Market Size in Asia

In 2022, the Asian loading machinery market increased by 1.1% to $X, rising for the eighth year in a row after two years of decline. The market value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 7.9%. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Loading Machinery Production in Asia

In value terms, loading machinery production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 8.7% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Loading Machinery Exports

Exports in Asia

Loading machinery exports expanded notably to X units in 2022, picking up by 10% against 2021. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 47%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, loading machinery exports declined modestly to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +10.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 31%. The level of export peaked at $X in 2021, and then reduced modestly in the following year.

Exports by Country

China prevails in exports structure, reaching X units, which was near 70% of total exports in 2022. It was distantly followed by South Korea (X units) and Japan (X units), together committing a 14% share of total exports. Singapore (X units), Turkey (X units), Taiwan (Chinese) (X units) and India (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the lifting, handling, loading or unloading machinery exports, with a CAGR of +16.4% from 2012 to 2022. At the same time, India (+13.6%), Singapore (+11.8%), Turkey (+8.8%), South Korea (+5.1%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (+27 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.4 p.p.), South Korea (-5.9 p.p.) and Japan (-12.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest loading machinery supplier in Asia, comprising 50% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports. It was followed by Japan, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +11.0%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+12.2% per year) and Japan (-4.6% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, which is down by -10.8% against the previous year. Overall, the export price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 when the export price increased by 6.1%. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the other leaders experienced more modest paces of growth.

Loading Machinery Imports

Imports in Asia

Loading machinery imports skyrocketed to X units in 2022, jumping by 28% on 2021 figures. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, loading machinery imports declined to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units) and Thailand (X units) represented roughly 46% of total imports in 2022. It was distantly followed by Singapore (X units), Turkey (X units) and India (X units), together generating a 17% share of total imports. Japan (X units), South Korea (X units), Indonesia (X units), the United Arab Emirates (X units), Taiwan (Chinese) (X units), Malaysia (X units), Qatar (X units) and Hong Kong SAR (X units) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported lifting, handling, loading or unloading machinery in Asia, comprising 29% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.3% share of total imports. It was followed by Singapore, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -1.3%. In the other countries, the average annual rates were as follows: Thailand (+4.3% per year) and Singapore (+11.5% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, reducing by -27.5% against the previous year. Over the period under review, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2017 when the import price increased by 27% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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