Asia-Pacific: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Asia-Pacific

The Asia-Pacific air or gas liquefier market contracted modestly to $X in 2022, waning by -3.5% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Machinery for Liquefying Air or Gases in Asia-Pacific

In value terms, air or gas liquefier production reduced slightly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in overseas shipments of machinery for liquefying air or gases, when their volume decreased by -53.4% to X units. In general, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 120%. Over the period under review, the exports reached the maximum at X units in 2021, and then shrank notably in the following year.

In value terms, air or gas liquefier exports plummeted to $X in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 181% against the previous year. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

China represented the main exporter of machinery for liquefying air or gases in Asia-Pacific, with the volume of exports reaching X units, which was near 60% of total exports in 2022. Indonesia (X units) ranks second in terms of the total exports with a 15% share, followed by India (13%) and Thailand (5.2%). South Korea (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to air or gas liquefier exports from China stood at +19.8%. At the same time, Indonesia (+53.2%), India (+40.0%) and South Korea (+2.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +53.2% from 2012-2022. By contrast, Thailand (-4.7%) illustrated a downward trend over the same period. While the share of China (+21 p.p.), Indonesia (+14 p.p.) and India (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-4.7 p.p.) and Thailand (-28.4 p.p.) displayed negative dynamics.

In value terms, the largest air or gas liquefier supplying countries in Asia-Pacific were China ($X), India ($X) and Indonesia ($X), with a combined 94% share of total exports.

Indonesia, with a CAGR of +57.3%, recorded the highest growth rate of the value of exports, among 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 unit, increasing by 7.3% against the previous year. Overall, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2021 an increase of 43%. The level of export peaked at $X per unit in 2015; however, from 2016 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 India ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the other leaders experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports in Asia-Pacific

In 2022, supplies from abroad of machinery for liquefying air or gases increased by 16% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 572%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, air or gas liquefier imports surged to $X in 2022. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 149% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) and Singapore (X units) were the largest importers of machinery for liquefying air or gases in Asia-Pacific, together achieving 53% of total imports. It was distantly followed by Thailand (X units), South Korea (X units) and China (X units), together committing a 29% share of total imports. The following importers - India (X units) and Vietnam (X units) - each accounted for a 7.7% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported machinery for liquefying air or gases in Asia-Pacific, comprising 47% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +40.8%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+6.0% per year) and China (+3.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, growing by 34% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 152%. The level of import peaked at $X per unit in 2016; however, from 2017 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 China ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :