Asia-Pacific: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Asia-Pacific

The Asia-Pacific mechanical shovel and excavator market declined notably to $X in 2021, shrinking by -25.5% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Asia-Pacific

In value terms, mechanical shovel and excavator production expanded slightly to $X in 2021 estimated in export price. In general, production, however, showed a pronounced reduction. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Asia-Pacific

In 2021, overseas shipments of mechanical shovels, excavators and shovel loaders were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 47%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, mechanical shovel and excavator exports soared to $X in 2021. Total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X units) and China (X units) were the key exporters of mechanical shovels, excavators and shovel loaders in 2021, resulting at near 43% and 36% of total exports, respectively. It was distantly followed by South Korea (X units), creating an 11% share of total exports. India (X units) and Australia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator supplying countries in Asia-Pacific were Japan ($X), China ($X) and South Korea ($X), with a combined 92% share of total exports. These countries were followed by India and Australia, which together accounted for a further 3.3%.

India, with a CAGR of +22.0%, 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 2021, the export price in Asia-Pacific amounted to $X per unit, growing by 9.9% against the previous year. Overall, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2016 an increase of 20% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Asia-Pacific

In 2021, mechanical shovel and excavator imports in Asia-Pacific contracted slightly to X units, which is down by -2.8% compared with the previous year. Total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.1% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then declined modestly in the following year.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. Over the period under review, imports saw a mild curtailment. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of mechanical shovel and excavator imports in 2021 were Australia (X units), Indonesia (X units), the Philippines (X units), Thailand (X units) and Vietnam (X units), together finishing at 59% of total import. It was distantly followed by India (X units), committing a 4.9% share of total imports. China (X units), New Zealand (X units), Malaysia (X units), Taiwan (Chinese) (X units), South Korea (X units), Hong Kong SAR (X units) and Nepal (X units) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +36.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator importing markets in Asia-Pacific were Australia ($X), Indonesia ($X) and Vietnam ($X), with a combined 47% share of total imports. These countries were followed by Thailand, China, New Zealand, the Philippines, India, Taiwan (Chinese), Malaysia, South Korea, Hong Kong SAR and Nepal, which together accounted for a further 39%.

Among the main importing countries, Nepal, with a CAGR of +36.9%, 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

The import price in Asia-Pacific stood at $X per unit in 2021, surging by 49% against the previous year. In general, the import price, however, showed a noticeable reduction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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