Asia: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Asia

The Asian air or gas liquefier market reduced slightly to $X in 2022, which is down by -3.7% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Machinery for Liquefying Air or Gases in Asia

In value terms, air or gas liquefier production reduced to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +4.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in Asia

After two years of growth, overseas shipments of machinery for liquefying air or gases decreased by -52.8% to X units in 2022. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 134%. The volume of export peaked at X units in 2021, and then contracted remarkably in the following year.

In value terms, air or gas liquefier exports dropped sharply to $X in 2022. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 166% against the previous year. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

China represented the main exporting country with an export of about X units, which accounted for 57% of total exports. Indonesia (X units) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by India (12%) and Thailand (4.9%). The United Arab Emirates (X units) and South Korea (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +19.8% from 2012 to 2022. At the same time, Indonesia (+53.2%), India (+40.0%), the United Arab Emirates (+13.0%) and South Korea (+2.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +53.2% from 2012-2022. By contrast, Thailand (-4.7%) illustrated a downward trend over the same period. While the share of China (+20 p.p.), Indonesia (+14 p.p.) and India (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-4.5 p.p.) and Thailand (-27 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined 88% share of total exports. Indonesia, South Korea and Thailand lagged somewhat behind, together comprising a further 7.3%.

In terms of the main exporting countries, Indonesia, with a CAGR of +57.3%, recorded the highest rates of growth with regard to 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

In 2022, the export price in Asia amounted to $X per unit, with an increase of 9.9% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2021 when the export price increased by 44%. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 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 India ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.5%), while the other leaders experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports in Asia

In 2022, supplies from abroad of machinery for liquefying air or gases increased by 2.3% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 587% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, air or gas liquefier imports skyrocketed to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +124.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 62%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X units) and Singapore (X units) were the largest importers of machinery for liquefying air or gases in Asia, together committing 44% of total imports. Thailand (X units) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (7.4%) and China (4.5%). The following importers - the United Arab Emirates (X units), Turkey (X units), Vietnam (X units), India (X units), Iran (X units), Malaysia (X units) and Qatar (X units) - together made up 19% 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 Thailand (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported machinery for liquefying air or gases in Asia, comprising 41% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +40.8%. In the other countries, the average annual rates were as follows: Indonesia (+6.0% per year) and China (+3.4% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, surging by 36% against the previous year. Over the period under review, the import price, however, saw a perceptible setback. The pace of growth was the most pronounced in 2016 when the import price increased by 735%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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