Asia-Pacific: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in Asia-Pacific

The Asia-Pacific pneumatic elevator market shrank significantly to $X in 2022, which is down by -29.4% against the previous year. In general, consumption, however, continues to indicate a prominent increase. As a result, consumption attained the peak level of $X, and then fell notably in the following year.

Pneumatic Elevator Production in Asia-Pacific

In value terms, pneumatic elevator production declined to $X in 2022 estimated in export price. In general, production, however, saw prominent growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 34%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Pneumatic Elevator Exports

Exports in Asia-Pacific

In 2022, pneumatic elevator exports in Asia-Pacific rose remarkably to X units, surging by 12% against the previous year. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, pneumatic elevator exports fell to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +28.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 38%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

India (X units) and China (X units) prevails in exports structure, together generating 90% of total exports. Singapore (X units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +28.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), India ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 78% of total exports.

India, with a CAGR of +15.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, with a decrease of -17.4% against the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 when the export price increased by 15% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 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 Singapore ($X per unit), while India ($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 (+5.1%), while the other leaders experienced a decline in the export price figures.

Pneumatic Elevator Imports

Imports in Asia-Pacific

In 2022, the amount of pneumatic elevators and conveyors imported in Asia-Pacific dropped to X units, waning by -10.3% on the previous year. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. As a result, imports attained the peak of X units, and then declined in the following year.

In value terms, pneumatic elevator imports expanded sharply to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 44% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore represented the major importer of pneumatic elevators and conveyors in Asia-Pacific, with the volume of imports amounting to X units, which was approx. 43% of total imports in 2022. India (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (14%) and Malaysia (4.7%). The Philippines (X units), Indonesia (X units) and Thailand (X units) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Vietnam (+27.0%), the Philippines (+18.4%), Thailand (+9.9%), India (+6.1%), Indonesia (+4.5%) and Malaysia (+2.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +27.0% from 2012-2022. While the share of Vietnam (+11 p.p.), Singapore (+5.7 p.p.) and the Philippines (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-2.1 p.p.), Malaysia (-3.8 p.p.) and India (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pneumatic elevator importing markets in Asia-Pacific were Indonesia ($X), India ($X) and Vietnam ($X), with a combined 49% share of total imports. Malaysia, the Philippines, Thailand and Singapore lagged somewhat behind, together comprising a further 15%.

The Philippines, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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, jumping by 27% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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