Asia-Pacific: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Asia-Pacific

In 2022, the Asia-Pacific electromagnetic lifting head market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Electromagnetic Lifting Head Production in Asia-Pacific

In value terms, electromagnetic lifting head production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 12%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electromagnetic Lifting Head Exports

Exports in Asia-Pacific

In 2022, exports of electromagnets and electromagnetic lifting heads in Asia-Pacific shrank modestly to X tons, which is down by -3% against 2021 figures. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. As a result, the exports attained the peak of X tons, and then shrank modestly in the following year.

In value terms, electromagnetic lifting head exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 16%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank slightly in the following year.

Exports by Country

China (X tons) and Japan (X tons) dominates exports structure, together achieving 74% of total exports. It was distantly followed by South Korea (X tons), making up an 8.5% share of total exports. Taiwan (Chinese) (X tons), Vietnam (X tons), Hong Kong SAR (X tons) and New Zealand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +16.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electromagnetic lifting head supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together accounting for 76% of total exports. New Zealand, Taiwan (Chinese), Vietnam and Hong Kong SAR lagged somewhat behind, together accounting for a further 18%.

Vietnam, with a CAGR of +17.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 2.1% against the previous year. In general, the export price, however, showed a slight setback. The pace of growth appeared the most rapid in 2020 when the export price increased by 19%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 New Zealand ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+8.2%), while the other leaders experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of electromagnets and electromagnetic lifting heads increased by 4.8% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.5% over the period 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 imports increased by 20%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, electromagnetic lifting head imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

The purchases of the five major importers of electromagnets and electromagnetic lifting heads, namely China, Japan, South Korea, India and Thailand, represented more than two-thirds of total import. Vietnam (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and the Philippines (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +10.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported electromagnets and electromagnetic lifting heads in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.1%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.0% per year) and Thailand (-3.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, waning by -5.6% against the previous year. In general, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 3.9%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Philippines ($X per ton), while Indonesia ($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 (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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