Asia: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in Asia

In 2022, the Asian non-electric pulley tackle market decreased by -1.4% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Non-Electric Pulley Tackle Production in Asia

In value terms, non-electric pulley tackle production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% 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 with an increase of 21%. Over the period under review, production hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Non-Electric Pulley Tackle Exports

Exports in Asia

In 2022, overseas shipments of pulley tackle and hoists, non-powered by electric motor increased by 15% to X units, rising for the second year in a row after two years of decline. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +43.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, non-electric pulley tackle exports rose to $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 37% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China represented the largest exporter of pulley tackle and hoists, non-powered by electric motor in Asia, with the volume of exports amounting to X units, which was near 71% of total exports in 2022. Thailand (X units) ranks second in terms of the total exports with a 17% share, followed by Japan (8.4%). India (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-electric pulley tackle exports from China stood at +5.9%. At the same time, Thailand (+101.8%), India (+29.7%) and Japan (+1.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +101.8% from 2012-2022. While the share of Thailand (+17 p.p.) and India (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-5.9 p.p.) and China (-11.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest non-electric pulley tackle supplier in Asia, comprising 65% of total exports. The second position in the ranking was held by Japan ($X), with a 17% share of total exports. It was followed by India, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-4.6% per year) and India (+14.9% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, which is down by -9.2% against the previous year. Overall, the export price recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 when the export price increased by 10% against the previous year. Over the period under review, the export prices attained the maximum 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 India ($X per unit), while Thailand ($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 (-0.7%), while the other leaders experienced a decline in the export price figures.

Non-Electric Pulley Tackle Imports

Imports in Asia

In 2022, supplies from abroad of pulley tackle and hoists, non-powered by electric motor increased by 3.3% to X units, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric pulley tackle imports amounted to $X in 2022. Over the period under review, imports, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 12%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units), Japan (X units), India (X units), Indonesia (X units), Vietnam (X units), South Korea (X units), the United Arab Emirates (X units), Malaysia (X units), Singapore (X units), Turkey (X units), Taiwan (Chinese) (X units) and Iran (X units) was the key importer of pulley tackle and hoists, non-powered by electric motor in Asia, making up 79% of total import. Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Japan ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 29% share of total imports. The United Arab Emirates, Thailand, Singapore, India, South Korea, Israel, Turkey, Taiwan (Chinese), Vietnam and Iran lagged somewhat behind, together comprising a further 43%.

In terms of the main importing countries, Israel, with a CAGR of +19.5%, 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 stood at $X per unit in 2022, approximately equating the previous year. In general, the import price saw a perceptible descent. The growth pace was the most rapid in 2013 when the import price increased by 4.5% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained 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 Israel ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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