Asia-Pacific: Loading Machinery Market 2024

Loading Machinery Market Size in Asia-Pacific

In 2022, the Asia-Pacific loading machinery market increased by 1.1% to $X, rising for the eighth consecutive year after two years of decline. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the market value increased by 7.4% against the previous year. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Loading Machinery Production in Asia-Pacific

In value terms, loading machinery production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9.3%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Loading Machinery Exports

Exports in Asia-Pacific

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported in Asia-Pacific; growing by 9.8% compared with the previous year. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, loading machinery exports shrank slightly to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 31%. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

China dominates exports structure, recording X units, which was near 72% of total exports in 2022. South Korea (X units) held an 8.5% share (based on physical terms) of total exports, which put it in second place, followed by Japan (6.2%). Singapore (X units), Taiwan (Chinese) (X units) and India (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the lifting, handling, loading or unloading machinery exports, with a CAGR of +16.4% from 2012 to 2022. At the same time, India (+13.6%), Singapore (+11.8%), South Korea (+5.1%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+27 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by -2.5%, -6.2% and -12.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest loading machinery supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports. It was followed by Japan, with a 13% share.

In China, loading machinery exports increased at an average annual rate of +11.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+12.2% per year) and Japan (-4.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, with a decrease of -10.5% against the previous year. Overall, the export price showed a perceptible curtailment. The growth pace was the most rapid in 2021 an increase of 5.6%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a 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 Taiwan (Chinese) ($X per unit), while China ($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 (+6.8%), while the other leaders experienced more modest paces of growth.

Loading Machinery Imports

Imports in Asia-Pacific

Loading machinery imports soared to X units in 2022, with an increase of 29% on the year before. The total import volume 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, loading machinery imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of +2.4% 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 2014 with an increase of 24% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Thailand (X units) and Australia (X units) represented roughly 62% of total imports in 2022. Singapore (X units) took the next position in the ranking, followed by India (X units). All these countries together took approx. 11% share of total imports. Japan (X units), South Korea (X units), Indonesia (X units), Taiwan (Chinese) (X units), Malaysia (X units), Hong Kong SAR (X units), New Zealand (X units) and Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 54% of total imports. Singapore, South Korea, Japan, Taiwan (Chinese), India, Indonesia, Hong Kong SAR, Malaysia, New Zealand and Vietnam lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, Singapore, with a CAGR of +11.5%, recorded the highest rates of growth with regard to the value of imports, 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 unit, which is down by -24.1% against the previous year. Over the period under review, the import price showed a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 32% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Thailand ($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 (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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