Asia-Pacific: Public Works Machinery Market 2024

Public Works Machinery Market Size in Asia-Pacific

The Asia-Pacific public works machinery market expanded sharply to $X in 2021, picking up by 6.2% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Public Works Machinery Production in Asia-Pacific

In value terms, public works machinery production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Public Works Machinery Exports

Exports in Asia-Pacific

In 2021, approx. X units of machinery for public works and building were exported in Asia-Pacific; increasing by 42% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2014 when exports increased by 85% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, public works machinery exports expanded notably to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 25%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, India (X units) and Australia (X units) represented the main exporters of machinery for public works and building in Asia-Pacific, together constituting 66% of total exports. It was distantly followed by China (X units) and Singapore (X units), together mixing up a 29% share of total exports. Pakistan (X units) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +76.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest public works machinery supplier in Asia-Pacific, comprising 73% of total exports. The second position in the ranking was held by India ($X), with a 4.2% share of total exports. It was followed by Australia, with a 2.5% share.

In China, public works machinery exports increased at an average annual rate of +6.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+15.9% per year) and Australia (+2.4% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, falling by -20.3% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 74% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, 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 China ($X per unit), while Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.7%), while the other leaders experienced a decline in the export price figures.

Public Works Machinery Imports

Imports in Asia-Pacific

In 2021, imports of machinery for public works and building in Asia-Pacific stood at X units, with an increase of 2.5% compared with the year before. Over the period under review, imports saw a strong expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 46%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, public works machinery imports soared to $X in 2021. Overall, imports showed a temperate increase. The pace of growth was the most pronounced in 2017 when imports increased by 29% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of machinery for public works and building, namely Singapore, South Korea and Thailand, represented more than half of total import. It was distantly followed by Vietnam (X units), Australia (X units), Japan (X units), India (X units) and the Philippines (X units), together achieving a 30% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +45.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), South Korea ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together comprising 40% of total imports.

Among the main importing countries, South Korea, with a CAGR of +11.4%, saw the highest growth rate of 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

The import price in Asia-Pacific stood at $X per unit in 2021, jumping by 25% against the previous year. Over the period under review, the import price, however, showed a deep slump. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+8.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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