Asia: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Asia

After three years of decline, the Asian market for pulley tackle and hoists powered by an electric motor increased by 9.4% to $X in 2022. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Pulley Tackle And Hoists Powered By An Electric Motor in Asia

In value terms, production of pulley tackle and hoists powered by an electric motor amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 15%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports in Asia

After four years of growth, overseas shipments of pulley tackle and hoists powered by an electric motor decreased by -5.2% to X units in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +65.9% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, the exports of reached the maximum at X units in 2021, and then dropped in the following year.

In value terms, exports of pulley tackle and hoists powered by an electric motor expanded sharply 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 remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 22%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China prevails in motor structure, accounting for X units, which was near 94% of total exports in 2022. Taiwan (Chinese) (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the pulley tackle and hoists powered by an electric motor exports, with a CAGR of +7.6% from 2012 to 2022. Taiwan (Chinese) (-7.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +17 percentage points.

In value terms, China ($X) remains the largest pulley tackle and hoists powered by an electric motor supplier in Asia, comprising 60% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +8.1%.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by 20% against the previous year. In general, the export price, however, continues to indicate a pronounced decline. Over the period under review, the export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Taiwan (Chinese) ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.7%).

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports in Asia

In 2022, supplies from abroad of pulley tackle and hoists powered by an electric motor was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 2018 when imports increased by 40%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of pulley tackle and hoists powered by an electric motor reached $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 19% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Vietnam (X units) and India (X units) represented the major importers of pulley tackle and hoists powered by an electric motor in 2022, amounting to near 28% and 21% of total imports, respectively. Thailand (X units) took the next position in the ranking, followed by Indonesia (X units). All these countries together took near 9.4% share of total imports. The following importers - Japan (X units), China (X units), Singapore (X units), South Korea (X units), Iran (X units), Malaysia (X units), the United Arab Emirates (X units), Turkey (X units) and Israel (X units) - together made up 30% of total imports.

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 +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pulley tackle and hoists powered by an electric motor importing markets in Asia were China ($X), Indonesia ($X) and the United Arab Emirates ($X), together accounting for 34% of total imports. Turkey, India, Japan, Thailand, Vietnam, South Korea, Malaysia, Iran, Singapore and Israel lagged somewhat behind, together comprising a further 50%.

Among the main importing countries, India, with a CAGR of +11.7%, saw the highest rates of growth with regard to 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, shrinking by -20.8% against the previous year. In general, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2020 when the import price increased by 17%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 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 Turkey ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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