Asia: Ship Propeller Market 2025

Ship Propeller Market Size in Asia

The Asian ship propeller market contracted to $X in 2022, shrinking by -1.9% against the previous year. Overall, consumption showed a slight slump. The pace of growth was the most pronounced in 2019 with an increase of 9.3%. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Ship Propeller Production in Asia

In value terms, ship propeller production contracted modestly to $X in 2022 estimated in export price. Overall, production showed a slight downturn. The growth pace was the most rapid in 2019 when the production volume increased by 11%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ship Propeller Exports

Exports in Asia

In 2022, shipments abroad of ships’ or boats’ propellers and blades therefor was finally on the rise to reach X tons for the first time since 2014, thus ending a seven-year declining trend. Overall, exports, however, continue to indicate a perceptible curtailment. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports skyrocketed to $X in 2022. In general, exports, however, recorded a pronounced decline. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan was the key exporter of ships’ or boats’ propellers and blades therefor in Asia, with the volume of exports resulting at X tons, which was near 51% of total exports in 2022. China (X tons) took the second position in the ranking, followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Singapore (X tons). All these countries together took approx. 37% share of total exports. The Philippines (X tons) and Bahrain (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ship propeller exports from Japan stood at -3.4%. At the same time, Bahrain (+84.0%), Taiwan (Chinese) (+4.1%), the Philippines (+3.3%) and China (+2.8%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in Asia, with a CAGR of +84.0% from 2012-2022. By contrast, Singapore (-3.8%) and South Korea (-10.2%) illustrated a downward trend over the same period. China (+5.5 p.p.), Taiwan (Chinese) (+5.2 p.p.), Bahrain (+2.9 p.p.) and the Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -3.9% and -9.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest ship propeller supplier in Asia, comprising 48% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total exports. It was followed by China, with a 13% share.

In Japan, ship propeller exports contracted by an average annual rate of -5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+3.9% per year) and China (+0.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with a decrease of -6.1% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The growth pace was the most rapid in 2018 an increase of 11%. Over the period under review, the export prices attained the peak figure at $X per ton 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 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

In 2022, overseas purchases of ships’ or boats’ propellers and blades therefor increased by 23% to X tons, rising for the second year in a row after six years of decline. In general, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, ship propeller imports surged to $X in 2022. Overall, imports, however, continue to indicate a perceptible decline. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by South Korea (X tons), the Philippines (X tons) and Turkey (X tons) were the largest importers of ships’ or boats’ propellers and blades therefor, together making up 77% of total imports. The following importers - Japan (X tons), the United Arab Emirates (X tons), Vietnam (X tons), Singapore (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) - together made up 19% 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 more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported ships’ or boats’ propellers and blades therefor in Asia, comprising 29% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Turkey, with a 12% share.

In China, ship propeller imports contracted by an average annual rate of -7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-9.9% per year) and Turkey (+8.6% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, rising by 2% against the previous year. Over the period under review, the import price, however, showed a mild contraction. The growth pace was the most rapid in 2018 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 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

Frequently Asked Questions (FAQ) :