Asia: Market for Mechanical Shovels, Excavators And Shovel Loaders 2025

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Asia

The Asian mechanical shovel and excavator market reduced to $X in 2021, waning by -9.1% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Asia

In value terms, mechanical shovel and excavator production reached $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible curtailment. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Asia

In 2021, overseas shipments of mechanical shovels, excavators and shovel loaders increased by 39% to X units for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 47% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, mechanical shovel and excavator exports soared to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Japan (X units) and China (X units) represented the major exporters of mechanical shovels, excavators and shovel loaders in Asia, together generating 79% of total exports. It was distantly followed by South Korea (X units), generating an 11% share of total exports. India (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 90% of total exports. India lagged somewhat behind, accounting for a further 3.1%.

In terms of the main exporting countries, India, with a CAGR of +22.0%, 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 2021, the export price in Asia amounted to $X per unit, increasing by 12% against the previous year. Overall, the export price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2016 an increase of 16%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, 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 South Korea ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Asia

After two years of decline, supplies from abroad of mechanical shovels, excavators and shovel loaders increased by 21% to X units in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 32% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a pronounced decrease. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of mechanical shovel and excavator imports in 2021 were Indonesia (X units), the Philippines (X units), Thailand (X units) and Vietnam (X units), together reaching 42% of total import. It was distantly followed by India (X units), comprising a 4.7% share of total imports. The following importers - the United Arab Emirates (X units), China (X units), Saudi Arabia (X units), Malaysia (X units), Kazakhstan (X units), Taiwan (Chinese) (X units), Turkey (X units) and South Korea (X units) - together made up 27% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator importing markets in Asia were Indonesia ($X), Vietnam ($X) and Thailand ($X), together comprising 32% of total imports.

Vietnam, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, jumping by 15% against the previous year. In general, the import price, however, recorded a perceptible setback. The level of import peaked at $X per unit in 2012; however, from 2013 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 Turkey ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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