Asia-Pacific: Shipping Market 2025

Shipping Market Size in Asia-Pacific

In 2021, the Asia-Pacific shipping market decreased by -13.9% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, continues to indicate a slight expansion. The level of consumption peaked at $X in 2020, and then fell in the following year.

Shipping Production in Asia-Pacific

In value terms, shipping production dropped remarkably to $X in 2021 estimated in export price. In general, production, however, enjoyed a moderate increase. The growth pace was the most rapid in 2020 when the production volume increased by 48%. As a result, production attained the peak level of $X, and then contracted notably in the following year.

Shipping Exports

Exports in Asia-Pacific

Shipping exports surged to X units in 2021, with an increase of 89% against 2020. Over the period under review, exports, however, showed a deep contraction. The growth pace was the most rapid in 2014 when exports increased by 301% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, shipping exports reduced to $X in 2021. Overall, exports, however, saw a mild contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 161% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of ships, vessels, ferry-boats for the transport of persons, namely India, China and Bangladesh, represented more than two-thirds of total export. Singapore (X units) held the next position in the ranking, followed by New Zealand (X units) and Vietnam (X units). All these countries together held near 22% share of total exports. South Korea (X units) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +42.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the largest shipping supplier in Asia-Pacific, comprising 46% of total exports. The second position in the ranking was held by India ($X), with an 11% share of total exports. It was followed by Singapore, with a 10% share.

In China, shipping exports increased at an average annual rate of +18.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (-9.8% per year) and Singapore (+13.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, dropping by -50.5% against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 363%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per unit), while New Zealand ($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 (+43.6%), while the other leaders experienced mixed trends in the export price figures.

Shipping Imports

Imports in Asia-Pacific

Shipping imports reduced to X units in 2021, shrinking by -13.1% compared with 2020 figures. In general, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 4,694% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, shipping imports surged to $X in 2021. Overall, imports recorded a perceptible reduction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Kiribati (X units), distantly followed by India (X units), Tuvalu (X units), Timor-Leste (X units), Singapore (X units), Vanuatu (X units), Pakistan (X units) and Tonga (X units) represented the main importers of ships, vessels, ferry-boats for the transport of persons, together making up 75% of total imports. Marshall Islands (X units), Australia (X units), China (X units), Palau (X units) and Japan (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to shipping imports into Kiribati stood at -5.3%. At the same time, Tuvalu (+55.7%), Pakistan (+43.9%), Singapore (+29.7%), Tonga (+28.5%), China (+28.2%), Palau (+26.0%), Marshall Islands (+7.5%), Australia (+5.2%) and India (+3.4%) displayed positive paces of growth. Moreover, Tuvalu emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +55.7% from 2012-2021. Timor-Leste experienced a relatively flat trend pattern. By contrast, Japan (-12.8%) and Vanuatu (-26.6%) illustrated a downward trend over the same period. Tuvalu (+8 p.p.), Timor-Leste (+7.8 p.p.), Singapore (+6.9 p.p.), India (+6.8 p.p.), Pakistan (+6.5 p.p.), Tonga (+6.3 p.p.), Kiribati (+5.9 p.p.), China (+2.7 p.p.), Marshall Islands (+2.6 p.p.), Australia (+2.3 p.p.) and Palau (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Vanuatu saw its share reduced by -42.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest shipping importing markets in Asia-Pacific were India ($X), China ($X) and Australia ($X), together comprising 61% of total imports. Pakistan, Timor-Leste, Japan, Marshall Islands, Tuvalu, Singapore, Vanuatu, Tonga, Kiribati and Palau lagged somewhat behind, together accounting for a further 14%.

Tonga, with a CAGR of +73.6%, saw the highest growth rate of the value of imports, in terms of 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 2021, the import price in Asia-Pacific amounted to $X per unit, increasing by 131% against the previous year. In general, the import price recorded strong growth. The most prominent rate of growth was recorded in 2016 an increase of 21,452% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 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 China ($X per unit), while Kiribati ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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