Asia-Pacific: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in Asia-Pacific

In 2022, after three years of decline, there was growth in the Asia-Pacific iron or steel bridges market, when its value increased by 1% to $X. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Iron Or Steel Bridges And Bridge-Sections in Asia-Pacific

In value terms, iron or steel bridges production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 31%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports in Asia-Pacific

In 2022, exports of iron or steel bridges and bridge-sections in Asia-Pacific fell to X tons, waning by -13.5% compared with the previous year's figure. In general, exports, however, recorded prominent growth. The growth pace was the most rapid in 2013 with an increase of 50%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, iron or steel bridges exports shrank dramatically to $X in 2022. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 51% against the previous year. As a result, the exports attained the peak of $X, and then dropped significantly in the following year.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 83% of total exports in 2022. The following exporters - Vietnam (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and India (X tons) - together made up 12% of total exports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel bridges exports from China stood at +10.9%. At the same time, Taiwan (Chinese) (+24.6%), Vietnam (+20.1%), Japan (+15.2%) and India (+1.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +24.6% from 2012-2022. By contrast, Indonesia (-9.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Vietnam and Taiwan (Chinese) increased by +21, +2.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel bridges supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was held by Vietnam ($X), with a 6.3% share of total exports. It was followed by India, with a 2.7% share.

In China, iron or steel bridges exports increased at an average annual rate of +10.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+19.2% per year) and India (+7.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, with a decrease of -6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 21%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports in Asia-Pacific

In 2022, iron or steel bridges imports in Asia-Pacific shrank to X tons, dropping by -9% against the year before. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, iron or steel bridges imports fell to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +86.8% against 2015 indices. The growth pace was the most rapid in 2019 with an increase of 44%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted modestly in the following year.

Imports by Country

In 2022, Bangladesh (X tons), distantly followed by India (X tons), Australia (X tons) and Pakistan (X tons) were the main importers of iron or steel bridges and bridge-sections, together comprising 65% of total imports. Thailand (X tons), Indonesia (X tons), the Philippines (X tons), Macao SAR (X tons), Taiwan (Chinese) (X tons), Cambodia (X tons), Lao People's Democratic Republic (X tons), Myanmar (X tons) and Singapore (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Macao SAR (with a CAGR of +64.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel bridges importing markets in Asia-Pacific were India ($X), Bangladesh ($X) and Australia ($X), together accounting for 61% of total imports. The Philippines, Indonesia, Thailand, Myanmar, Cambodia, Pakistan, Lao People's Democratic Republic, Taiwan (Chinese), Singapore and Macao SAR lagged somewhat behind, together accounting for a further 29%.

Macao SAR, with a CAGR of +53.4%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 4.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 10%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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