Asia: Milking Machine Market 2024

Milking Machine Market Size in Asia

After two years of growth, the Asian milking machine market decreased by -3.4% to $X in 2022. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Milking Machine Production in Asia

In value terms, milking machine production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Milking Machine Exports

Exports in Asia

In 2022, approx. X units of milking machines were exported in Asia; growing by 6.6% against the year before. Over the period under review, exports recorded prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 79%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, milking machine exports expanded to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.4% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 45% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey represented the key exporting country with an export of about X units, which finished at 61% of total exports. Israel (X units) held the second position in the ranking, followed by China (X units). All these countries together took approx. 38% share of total exports.

Turkey was also the fastest-growing in terms of the milking machines exports, with a CAGR of +11.5% from 2012 to 2022. At the same time, China (+10.3%) and Israel (+5.7%) displayed positive paces of growth. While the share of Turkey (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-9.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) remains the largest milking machine supplier in Asia, comprising 68% of total exports. The second position in the ranking was taken by Turkey ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Israel amounted to +9.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+8.2% per year) and China (-8.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, reducing by -4.3% against the previous year. Over the period under review, the export price showed a pronounced downturn. The most prominent rate of growth was recorded in 2016 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+4.0%), while the other leaders experienced a decline in the export price figures.

Milking Machine Imports

Imports in Asia

In 2022, overseas purchases of milking machines were finally on the rise to reach X units after three years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, milking machine imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units), distantly followed by Kazakhstan (X units), Azerbaijan (X units), Kyrgyzstan (X units), Turkey (X units) and China (X units) represented the main importers of milking machines, together mixing up 65% of total imports. Georgia (X units), South Korea (X units), Iraq (X units), Taiwan (Chinese) (X units), Indonesia (X units), Pakistan (X units) and Armenia (X units) held 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 Kyrgyzstan (with a CAGR of +91.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. These countries were followed by South Korea, Kazakhstan, Pakistan, Azerbaijan, Taiwan (Chinese), Georgia, Iraq, Indonesia, Armenia and Kyrgyzstan, which together accounted for a further 21%.

Kyrgyzstan, with a CAGR of +81.4%, 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 2022, surging by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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