Asia: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in Asia

The Asian railway maintenance vehicle market was estimated at $X in 2021, surging by 13% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Railway Maintenance Vehicle Production in Asia

In value terms, railway maintenance vehicle production shrank slightly to $X in 2021 estimated in export price. Overall, production continues to indicate modest growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 1,152%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Railway Maintenance Vehicle Exports

Exports in Asia

After three years of decline, shipments abroad of railway or tramway maintenance or service vehicles increased by 32% to X units in 2021. Over the period under review, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2017 when exports increased by 14,063% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, railway maintenance vehicle exports skyrocketed to $X in 2021. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by 122% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

China (X units) and South Korea (X units) prevails in exports structure, together committing 79% of total exports. The following exporters - Singapore (X units), India (X units), Armenia (X units) and Japan (X units) - together made up 14% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Singapore (with a CAGR of +37.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest railway maintenance vehicle supplier in Asia, comprising 73% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.1% share of total exports. It was followed by India, with an 8.7% share.

In China, railway maintenance vehicle exports expanded at an average annual rate of +14.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.0% per year) and India (+6.3% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, growing by 39% against the previous year. Over the period under review, the export price showed a significant increase. The most prominent rate of growth was recorded in 2018 an increase of 15,540% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+32.8%), while the other leaders experienced mixed trends in the export price figures.

Railway Maintenance Vehicle Imports

Imports in Asia

For the fifth consecutive year, Asia recorded growth in overseas purchases of railway or tramway maintenance or service vehicles, which increased by 51% to X units in 2021. Over the period under review, imports recorded resilient growth. The growth pace was the most rapid in 2015 when imports increased by 79%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, railway maintenance vehicle imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Syrian Arab Republic was the key importer of railway or tramway maintenance or service vehicles in Asia, with the volume of imports accounting for X units, which was near 59% of total imports in 2021. Lao People's Democratic Republic (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Japan (11%) and Israel (5.2%). The following importers - South Korea (X units) and Malaysia (X units) - together made up 4.8% of total imports.

Imports into Syrian Arab Republic increased at an average annual rate of +28.6% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+158.6%), South Korea (+73.8%), Malaysia (+15.6%) and Japan (+7.2%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in Asia, with a CAGR of +158.6% from 2012-2021. By contrast, Israel (-6.6%) illustrated a downward trend over the same period. Syrian Arab Republic (+43 p.p.), Lao People's Democratic Republic (+14 p.p.) and South Korea (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Israel saw its share reduced by -4.5% and -20.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported railway or tramway maintenance or service vehicles in Asia, comprising 30% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.5% share of total imports. It was followed by Malaysia, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled +6.2%. In the other countries, the average annual rates were as follows: South Korea (+63.9% per year) and Malaysia (+29.6% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, jumping by 17% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+15.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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