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

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

In 2022, the Chinese market for vacuum pumps and air or gas compressors was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Vacuum Pumps and Air or Gas Compressors in China

In value terms, production of vacuum pumps and air or gas compressors stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 8.1%. Over the period under review, production of attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from China

In 2022, after six years of growth, there was significant decline in shipments abroad of vacuum pumps and air or gas compressors, when their volume decreased by -13.1% to X units. Overall, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +41.0% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 21%. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, exports of vacuum pumps and air or gas compressors dropped modestly to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 41% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

The United States (X units), India (X units) and Japan (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from China, with a combined 28% share of total exports. Thailand, Indonesia, Turkey, Mexico, Germany, South Korea, Vietnam, Brazil, Russia and the Netherlands lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +17.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum pump and air or gas compressor exported from China were the United States ($X), India ($X) and Russia ($X), together comprising 26% of total exports. Thailand, South Korea, Japan, Turkey, Mexico, Germany, Indonesia, Brazil, Vietnam and the Netherlands lagged somewhat behind, together comprising a further 36%.

Mexico, with a CAGR of +19.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2021 when the average export price increased by 16%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to the Netherlands ($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 Russia (+16.2%), 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 China

Imports of vacuum pumps and air or gas compressors into China dropped to X units in 2022, which is down by -9% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of vacuum pumps and air or gas compressors reduced to $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 30%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest vacuum pump and air or gas compressor supplier to China, accounting for a 25% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from Japan exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.1% per year) and Germany (+2.3% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to China were Japan ($X), Germany ($X) and South Korea ($X), together accounting for 57% of total imports. Thailand, France, Brazil, Portugal, India, Slovakia, Austria, Singapore and Poland lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, Portugal, with a CAGR of +100.3%, recorded 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 average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, picking up by 3.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 Germany ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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