Asia-Pacific: Electric Rail Locomotive Market 2024

Electric Rail Locomotive Market Size in Asia-Pacific

For the fourth year in a row, the Asia-Pacific electric rail locomotive market recorded decline in sales value, which decreased by -0.1% to $X in 2022. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Electric Rail Locomotive Production in Asia-Pacific

In value terms, electric rail locomotive production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 0.9% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Electric Rail Locomotive Exports

Exports in Asia-Pacific

For the fourth year in a row, Asia-Pacific recorded growth in shipments abroad of electric rail locomotives, which increased by 148% to X units in 2022. Overall, exports continue to indicate measured growth. The growth pace was the most rapid in 2016 when exports increased by 1,457%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, electric rail locomotive exports shrank sharply to $X in 2022. In general, exports, however, continue to indicate a mild reduction. The pace of growth was the most pronounced in 2015 with an increase of 288%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X units) and Japan (X units) prevails in exports structure, together committing 92% of total exports. It was distantly followed by China (X units), comprising a 6.7% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of +58.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2022, with a combined 99.9% share of total exports.

Among the main exporting countries, South Korea, with a CAGR of +138.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, dropping by -67.4% against the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 5,346% against the previous year. The level of export peaked at $X per unit in 2021, and then fell remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+50.7%), while the other leaders experienced mixed trends in the export price figures.

Electric Rail Locomotive Imports

Imports in Asia-Pacific

In 2022, approx. X units of electric rail locomotives were imported in Asia-Pacific; rising by 25% against the previous year. Over the period under review, imports, however, showed a abrupt downturn. The growth pace was the most rapid in 2021 when imports increased by 119% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electric rail locomotive imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 297% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR was the largest importer of electric rail locomotives in Asia-Pacific, with the volume of imports finishing at X units, which was approx. 51% of total imports in 2022. Bangladesh (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (13%), South Korea (12%) and Vietnam (6.8%). Singapore (X units) followed a long way behind the leaders.

Hong Kong SAR was also the fastest-growing in terms of the electric rail locomotives imports, with a CAGR of +68.2% from 2012 to 2022. At the same time, Vietnam (+49.8%), South Korea (+47.5%), Indonesia (+40.4%) and Singapore (+21.6%) displayed positive paces of growth. By contrast, Bangladesh (-25.9%) illustrated a downward trend over the same period. Hong Kong SAR (+51 p.p.), Indonesia (+13 p.p.), South Korea (+12 p.p.), Vietnam (+6.8 p.p.) and Singapore (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh saw its share reduced by -40.4% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported electric rail locomotives in Asia-Pacific, comprising 60% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 17% share of total imports. It was followed by Indonesia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR amounted to +89.1%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+8.4% per year) and Indonesia (+12.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, picking up by 3.3% against the previous year. In general, the import price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2015 when the import price increased by 368%. The level of import peaked at $X per unit in 2018; however, from 2019 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 Singapore ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+46.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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