Eastern Asia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Eastern Asia

In 2022, the East Asian market for vacuum pumps and air or gas compressors was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a slight descent. The level of consumption 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 Eastern Asia

In value terms, production of vacuum pumps and air or gas compressors dropped modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 7.8% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Eastern Asia

After six years of growth, shipments abroad of vacuum pumps and air or gas compressors decreased by -10.8% to X units in 2022. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, exports of vacuum pumps and air or gas compressors contracted slightly to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +55.6% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

China dominates compressors structure, recording X units, which was approx. 85% of total exports in 2022. Taiwan (Chinese) (X units) ranks second in terms of the total exports with a 5.4% share, followed by Japan (5.1%). Hong Kong SAR (X units) and South Korea (X units) held a minor share of total exports.

Exports from China increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, South Korea (+7.3%) and Japan (+3.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +7.3% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-6.4%) illustrated a downward trend over the same period. While the share of China (+7.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vacuum pump and air or gas compressor supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +7.9%. In the other countries, the average annual rates were as follows: Japan (-0.5% per year) and South Korea (+2.8% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in overseas purchases of vacuum pumps and air or gas compressors, which increased by 10% to X units in 2022. The total import volume increased at an average annual rate of +3.9% 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 2021 when imports increased by 18% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors declined to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports attained the peak of $X, and then dropped modestly in the following year.

Imports by Country

In 2022, Hong Kong SAR (X units), Japan (X units), China (X units), South Korea (X units) and Taiwan (Chinese) (X units) represented the main importer of vacuum pumps and air or gas compressors in Eastern Asia, generating 100% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hong Kong SAR (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with a 23% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+3.0% per year) and Japan (+0.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, reducing by -10.6% against the previous year. Over the period under review, the import price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of 5%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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