China: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in China

In 2021, the Chinese underground continuous-action elevator market increased by 1.7% to $X for the first time since 2014, thus ending a six-year declining trend. In general, consumption, however, showed a pronounced decline. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Underground Continuous-Action Elevator Production in China

In value terms, underground continuous-action elevator production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 5.7% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Underground Continuous-Action Elevator Exports

Exports from China

In 2021, shipments abroad of underground continuous-action elevators and conveyors was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of 106%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by 127%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X units) was the main destination for underground continuous-action elevator exports from China, accounting for a 86% share of total exports. Moreover, underground continuous-action elevator exports to Uzbekistan exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold. The third position in this ranking was taken by Malaysia (X units), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Uzbekistan totaled +217.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-9.0% per year) and Malaysia (+23.7% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for underground continuous-action elevators and conveyors exports from China, comprising 50% of total exports. The second position in the ranking was taken by Turkey ($X), with a 19% share of total exports. It was followed by Malaysia, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan amounted to +157.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-8.8% per year) and Malaysia (+19.3% per year).

Export Prices by Country

The average underground continuous-action elevator export price stood at $X per unit in 2021, which is down by -29.4% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 17% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 Turkey ($X per unit), while the average price for exports to Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Underground Continuous-Action Elevator Imports

Imports into China

In 2021, approx. X units of underground continuous-action elevators and conveyors were imported into China; with an increase of 25% against 2020. Overall, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2018 when imports increased by 77%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, underground continuous-action elevator imports soared to $X in 2021. Over the period under review, imports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 148% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) was the main underground continuous-action elevator supplier to China, accounting for a 98% share of total imports. It was followed by Poland (X units), with a 1.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -10.3%.

In value terms, Germany ($X) constituted the largest supplier of underground continuous-action elevators and conveyors to China, comprising 99% of total imports. The second position in the ranking was held by Poland ($X), with a 1.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +2.9%.

Import Prices by Country

In 2021, the average underground continuous-action elevator import price amounted to $X per unit, picking up by 26% against the previous year. In general, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 132%. The import price peaked in 2021 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :