Bangladesh: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Bangladesh

The Bangladeshi market for vacuum pumps and air or gas compressors reduced notably to $X in 2022, declining by -24% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a prominent increase. Over the period under review, the market attained the peak level at $X in 2021, and then contracted dramatically in the following year.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Bangladesh

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported from Bangladesh; reducing by -17.8% against the previous year's figure. In general, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 335% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2021, and then plummeted in the following year.

In value terms, exports of vacuum pumps and air or gas compressors declined dramatically to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2015 when exports increased by 1,014%. Over the period under review, the exports of reached the peak figure at $X in 2021, and then shrank significantly in the following year.

Exports by Country

The United States (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Bangladesh, with a 63% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to the United States exceeded the volume sent to the second major destination, Turkey (X units), fourfold. The third position in this ranking was held by Singapore (X units), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+60.2% per year) and Singapore (+29.5% per year).

In value terms, the United States ($X), Japan ($X) and Turkey ($X) constituted the largest markets for vacuum pump and air or gas compressor exported from Bangladesh worldwide, together accounting for 75% of total exports.

Among the main countries of destination, the United States, with a CAGR of +30.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, reducing by -13.8% against the previous year. Over the period under review, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2015 an increase of 379% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+33.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Bangladesh

In 2022, approx. X units of vacuum pumps and air or gas compressors were imported into Bangladesh; waning by -24% on 2021. Over the period under review, imports, however, saw strong growth. The growth pace was the most rapid in 2014 with an increase of 178%. Imports peaked at X units in 2021, and then contracted markedly in the following year.

In value terms, imports of vacuum pumps and air or gas compressors declined remarkably to $X in 2022. In general, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 91% against the previous year. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Bangladesh, accounting for a 88% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was held by India (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+10.7% per year) and India (-17.5% per year).

In value terms, China ($X) constituted the largest supplier of vacuum pumps and air or gas compressors to Bangladesh, comprising 65% of total imports. The second position in the ranking was taken by India ($X), with a 3.8% share of total imports. It was followed by Thailand, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.6% per year) and Thailand (+8.8% per year).

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, approximately reflecting the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 214%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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