China: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in China

In 2022, the Chinese air or gas liquefier market increased by 1.2% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Air or gas liquefier consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Machinery for Liquefying Air or Gases in China

In value terms, air or gas liquefier production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 24%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports from China

In 2022, after two years of growth, there was significant decline in overseas shipments of machinery for liquefying air or gases, when their volume decreased by -68.9% to X units. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 133% against the previous year. The exports peaked at X units in 2021, and then reduced notably in the following year.

In value terms, air or gas liquefier exports declined markedly to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by 213%. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

South Korea (X units), India (X units) and the United States (X units) were the main destinations of air or gas liquefier exports from China, with a combined 15% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for machinery for liquefying air or gases exports from China, comprising 21% of total exports. The second position in the ranking was taken by India ($X), with a 10% share of total exports. It was followed by the United States, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea amounted to +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+5.9% per year) and the United States (+0.5% per year).

Export Prices by Country

In 2022, the average air or gas liquefier export price amounted to $X per unit, growing by 6% against the previous year. Overall, the export price, however, faced a abrupt decline. The pace of growth was the most pronounced in 2021 an increase of 44%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Vietnam ($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 Cuba (+379.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports into China

In 2022, after three years of growth, there was decline in purchases abroad of machinery for liquefying air or gases, when their volume decreased by 0% to X units. In general, imports saw a noticeable expansion. The pace of growth appeared the most rapid in 2020 with an increase of 175%. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, air or gas liquefier imports shrank dramatically to $X in 2022. Over the period under review, imports saw a noticeable expansion. The pace of growth was the most pronounced in 2013 with an increase of 122% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units) constituted the largest air or gas liquefier supplier to China, with a 71% share of total imports. Moreover, air or gas liquefier imports from India exceeded the figures recorded by the second-largest supplier, Malaysia (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (0.0% per year) and Slovakia (0.0% per year).

In value terms, India ($X) constituted the largest supplier of machinery for liquefying air or gases to China, comprising 20% of total imports. The second position in the ranking was taken by Germany ($X), with a 5.8% share of total imports. It was followed by the United States, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +856.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.8% per year) and the United States (-18.9% per year).

Import Prices by Country

In 2022, the average air or gas liquefier import price amounted to $X per unit, waning by -25.8% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, air or gas liquefier import price increased by +9.7% against 2018 indices. The pace of growth appeared the most rapid in 2019 an increase of 40%. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then plummeted in the following year.

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 South Korea ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+116.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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