Asia-Pacific: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Asia-Pacific

The Asia-Pacific market for vacuum pumps and air or gas compressors rose slightly to $X in 2022, with an increase of 4.3% against the previous year. The market value increased at an average annual rate of +1.2% 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 attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Asia-Pacific

In value terms, production of vacuum pumps and air or gas compressors stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Asia-Pacific

In 2022, overseas shipments of vacuum pumps and air or gas compressors decreased by -10.3% to X units for the first time since 2015, thus ending a six-year rising trend. The total export volume increased at an average annual rate of +1.9% 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 2021 when exports increased by 22%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, exports of vacuum pumps and air or gas compressors totaled $X in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 29%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in compressors structure, accounting for X units, which was approx. 80% of total exports in 2022. Taiwan (Chinese) (X units) took the second position in the ranking, followed by Japan (X units). All these countries together took near 10% share of total exports. Hong Kong SAR (X units), Thailand (X units) and South Korea (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, South Korea (+7.3%) and Japan (+3.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +7.3% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Thailand (-1.8%) and Taiwan (Chinese) (-6.4%) illustrated a downward trend over the same period. While the share of China (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vacuum pump and air or gas compressor supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by South Korea, with a 10% share.

In China, exports of vacuum pumps and air or gas compressors increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.5% per year) and South Korea (+2.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.7%), while the other leaders experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Asia-Pacific

In 2022, after five years of growth, there was significant decline in overseas purchases of vacuum pumps and air or gas compressors, when their volume decreased by -5.6% to X units. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +55.5% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, imports reached the peak of X units, and then dropped in the following year.

In value terms, imports of vacuum pumps and air or gas compressors reduced slightly to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, India (X units) and Thailand (X units) were the major importers of vacuum pumps and air or gas compressors in Asia-Pacific, together comprising 40% of total imports. Hong Kong SAR (X units) took the next position in the ranking, followed by Japan (X units), China (X units), Vietnam (X units) and South Korea (X units). All these countries together took near 39% share of total imports. The following importers - Taiwan (Chinese) (X units), Pakistan (X units), Malaysia (X units), Australia (X units), Indonesia (X units) and Singapore (X units) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Asia-Pacific, comprising 27% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Thailand, with an 11% share.

In China, imports of vacuum pumps and air or gas compressors expanded at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+3.0% per year) and Thailand (+2.7% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, growing by 5.9% against the previous year. Over the period under review, the import price, however, showed a pronounced slump. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 ($X per unit), while Hong Kong SAR ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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