Asia-Pacific: Ship Propeller Market 2024

Ship Propeller Market Size in Asia-Pacific

The Asia-Pacific ship propeller market fell to $X in 2022, with a decrease of -2.5% against the previous year. Overall, consumption recorded a slight decrease. The pace of growth appeared the most rapid in 2019 with an increase of 8.6% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Ship Propeller Production in Asia-Pacific

In value terms, ship propeller production contracted to $X in 2022 estimated in export price. In general, production showed a slight contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 11%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ship Propeller Exports

Exports in Asia-Pacific

In 2022, after seven years of decline, there was significant growth in shipments abroad of ships’ or boats’ propellers and blades therefor, when their volume increased by 37% to X tons. In general, exports, however, saw a noticeable decrease. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports soared to $X in 2022. Over the period under review, exports, however, recorded a pronounced setback. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Japan (X tons) represented the main exporter of ships’ or boats’ propellers and blades therefor, achieving 51% of total exports. China (X tons) ranks second in terms of the total exports with a 13% share, followed by Taiwan (Chinese) (10%), South Korea (7.7%) and Singapore (5.2%). The Philippines (X tons) and Marshall Islands (X tons) held a minor share of total exports.

Exports from Japan decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, Taiwan (Chinese) (+4.1%), the Philippines (+3.3%) and China (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +4.1% from 2012-2022. Marshall Islands experienced a relatively flat trend pattern. By contrast, Singapore (-3.8%) and South Korea (-10.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Taiwan (Chinese), Marshall Islands and the Philippines increased by +5.2, +5, +3.2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest ship propeller supplier in Asia-Pacific, comprising 47% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Japan totaled -5.8%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.9% per year) and China (+0.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, waning by -5.7% against the previous year. Over the period under review, the export price saw a mild slump. The growth pace was the most rapid in 2018 an increase of 11%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.2%), while the other leaders experienced a decline in the export price figures.

Ship Propeller Imports

Imports in Asia-Pacific

In 2022, overseas purchases of ships’ or boats’ propellers and blades therefor increased by 26% to X tons, rising for the second consecutive year after six years of decline. Overall, imports, however, continue to indicate a perceptible decrease. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, ship propeller imports soared to $X in 2022. In general, imports, however, showed a abrupt decrease. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the main importer of ships’ or boats’ propellers and blades therefor in Asia-Pacific, with the volume of imports resulting at X tons, which was approx. 37% of total imports in 2022. South Korea (X tons) took the second position in the ranking, followed by the Philippines (X tons) and Japan (X tons). All these countries together held near 43% share of total imports. The following importers - Vietnam (X tons), Singapore (X tons) and Indonesia (X tons) - together made up 10% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +20.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported ships’ or boats’ propellers and blades therefor in Asia-Pacific, comprising 34% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports. It was followed by the Philippines, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -7.0%. In the other countries, the average annual rates were as follows: South Korea (-9.9% per year) and the Philippines (+14.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of 4.9% against the previous year. Over the period under review, the import price, however, saw a mild reduction. The pace of growth appeared the most rapid in 2016 when the import price increased by 10% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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