Asia: Public Works Machinery Market 2024

Public Works Machinery Market Size in Asia

For the fifth consecutive year, the Asian public works machinery market recorded growth in sales value, which increased by 8.2% to $X in 2021. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; 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 2021 and is likely to see gradual growth in the near future.

Public Works Machinery Production in Asia

In value terms, public works machinery production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 11%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Public Works Machinery Exports

Exports in Asia

In 2021, after six years of decline, there was significant growth in overseas shipments of machinery for public works and building, when their volume increased by 63% to X units. In general, exports, however, recorded a abrupt curtailment. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, public works machinery exports rose significantly to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 24% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India represented the major exporter of machinery for public works and building in Asia, with the volume of exports finishing at X units, which was approx. 48% of total exports in 2021. China (X units) ranks second in terms of the total exports with a 26% share, followed by Singapore (14%). The following exporters - Pakistan (X units) and Turkey (X units) - together made up 5% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Pakistan (with a CAGR of +76.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest public works machinery supplier in Asia, comprising 66% of total exports. The second position in the ranking was taken by Turkey ($X), with a 9.8% share of total exports. It was followed by India, with a 3.8% share.

In China, public works machinery exports increased at an average annual rate of +6.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+3.2% per year) and India (+15.9% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, with a decrease of -30.4% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 when the export price increased by 67% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.7%), while the other leaders experienced a decline in the export price figures.

Public Works Machinery Imports

Imports in Asia

In 2021, public works machinery imports in Asia reduced to X units, with a decrease of -11.7% on the year before. In general, imports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 123% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, public works machinery imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 21% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Qatar prevails in imports structure, accounting for X units, which was near 84% of total imports in 2021. Singapore (X units), South Korea (X units) and Thailand (X units) held a relatively small share of total imports.

Imports into Qatar increased at an average annual rate of +2.7% from 2012 to 2021. At the same time, Singapore (+22.5%), South Korea (+20.2%) and Thailand (+4.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia, with a CAGR of +22.5% from 2012-2021. From 2012 to 2021, the share of Singapore and South Korea increased by +3 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest public works machinery importing markets in Asia were South Korea ($X), Thailand ($X) and Qatar ($X), with a combined 20% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +11.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, picking up by 31% against the previous year. In general, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 107% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Thailand (-3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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