Asia-Pacific: Milking Machine Market 2024

Milking Machine Market Size in Asia-Pacific

In 2022, the Asia-Pacific milking machine market decreased by -0.3% to $X, falling for the fifth year in a row after three years of growth. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.2% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Milking Machine Production in Asia-Pacific

In value terms, milking machine production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% 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 2015 when the production volume increased by 20%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Milking Machine Exports

Exports in Asia-Pacific

In 2022, milking machine exports in Asia-Pacific surged to X units, growing by 31% on the previous year. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, milking machine exports fell notably to $X in 2022. Over the period under review, exports, however, showed a perceptible slump. The growth pace was the most rapid in 2014 when exports increased by 44%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, China (X units) was the major exporter of milking machines, comprising 61% of total exports. It was distantly followed by New Zealand (X units), making up a 33% share of total exports. Australia (X units) and India (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, New Zealand ($X) remains the largest milking machine supplier in Asia-Pacific, comprising 58% of total exports. The second position in the ranking was taken by China ($X), with a 23% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand was relatively modest. In the other countries, the average annual rates were as follows: China (-8.0% per year) and Australia (-13.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, waning by -37.7% against the previous year. Over the period under review, the export price, however, continues to indicate a mild increase. The most prominent rate of growth was recorded in 2018 an increase of 82% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 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 India ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+24.6%), while the other leaders experienced more modest paces of growth.

Milking Machine Imports

Imports in Asia-Pacific

In 2022, after two years of decline, there was significant growth in purchases abroad of milking machines, when their volume increased by 10% to X units. In general, imports, however, continue to indicate a mild setback. The pace of growth was the most pronounced in 2014 with an increase of 48%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, milking machine imports soared to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 45%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Japan was the largest importing country with an import of about X units, which recorded 42% of total imports. Australia (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by China (11%), South Korea (6.5%) and Taiwan (Chinese) (5.1%). Indonesia (X units), Pakistan (X units), Vietnam (X units), India (X units), Bangladesh (X units) and Thailand (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to milking machine imports into Japan stood at +25.6%. At the same time, Bangladesh (+53.9%), Taiwan (Chinese) (+16.4%), Indonesia (+9.4%), Australia (+3.4%) and Thailand (+2.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +53.9% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Pakistan (-2.9%), Vietnam (-8.6%), China (-11.2%) and India (-20.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan, Australia, Taiwan (Chinese), Indonesia and Bangladesh increased by +39, +5.2, +4.2, +2.8 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Australia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 79% share of total imports. These countries were followed by South Korea, Pakistan, Vietnam, Taiwan (Chinese), India, Indonesia, Bangladesh and Thailand, which together accounted for a further 16%.

In terms of the main importing countries, Bangladesh, with a CAGR of +33.3%, 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 2022, with an increase of 23% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milking machine import price increased by +72.7% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 China (+19.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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