Asia-Pacific: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Asia-Pacific

The Asia-Pacific machinery electrical parts market reduced to $X in 2022, with a decrease of -4.3% against the previous year. In general, consumption, however, recorded strong growth. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Machinery Electrical Parts Production in Asia-Pacific

In value terms, machinery electrical parts production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded strong growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 67% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports in Asia-Pacific

Machinery electrical parts exports declined to X tons in 2022, waning by -10.3% compared with the previous year's figure. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 424%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, machinery electrical parts exports reached $X in 2022. In general, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 309% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 58% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Vietnam (X tons) and Malaysia (X tons), together constituting a 34% share of total exports. Sri Lanka (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to machinery electrical parts exports from China stood at +8.8%. At the same time, Sri Lanka (+90.4%), Vietnam (+28.7%), Malaysia (+15.1%), Hong Kong SAR (+13.4%) and South Korea (+6.9%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +90.4% from 2012-2022. By contrast, Taiwan (Chinese) (-3.6%) illustrated a downward trend over the same period. China (+13 p.p.), Vietnam (+4.9 p.p.), Hong Kong SAR (+4 p.p.), Malaysia (+2.7 p.p.) and Sri Lanka (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -12.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest machinery electrical parts supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Taiwan (Chinese), with a 3.9% share.

In China, machinery electrical parts exports increased at an average annual rate of +21.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+15.0% per year) and Taiwan (Chinese) (+0.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 13% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 19%. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.4%), while the other leaders experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in purchases abroad of electrical parts of machinery or apparatus, when their volume decreased by -13.5% to X tons. In general, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 180% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, machinery electrical parts imports contracted sharply to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 226% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand was the largest importer of electrical parts of machinery or apparatus in Asia-Pacific, with the volume of imports amounting to X tons, which was near 43% of total imports in 2022. Hong Kong SAR (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.2%), Malaysia (6.1%), South Korea (5.6%) and Taiwan (Chinese) (4.6%). Singapore (X tons) took a little share of total imports.

Thailand was also the fastest-growing in terms of the electrical parts of machinery or apparatus imports, with a CAGR of +52.7% from 2012 to 2022. At the same time, Vietnam (+21.4%), Malaysia (+19.6%), Taiwan (Chinese) (+16.6%) and Hong Kong SAR (+8.6%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Singapore (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam, Malaysia, Hong Kong SAR and Taiwan (Chinese) increased by +42, +5.9, +4.1, +3.2 and +2.7 percentage points, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in Asia-Pacific, comprising 53% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by Thailand, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR totaled +12.9%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+11.8% per year) and Thailand (+14.9% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, waning by -31.8% against the previous year. In general, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the import price increased by 22% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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