Eastern Asia: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Eastern Asia

In 2022, the East Asian market for turbo, rotary and reciporating displacement compressors decreased by -1.8% to $X, falling for the third year in a row after three years of growth. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Eastern Asia

In value terms, production of turbo, rotary and reciporating displacement compressors stood at $X in 2022 estimated in export price. Overall, production, however, posted notable growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 208% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in Eastern Asia

In 2022, shipments abroad of turbo, rotary and reciporating displacement compressors decreased by -12.5% to X units for the first time since 2015, thus ending a six-year rising trend. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +49.5% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 23%. As a result, the exports reached the peak of X units, and then declined in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors dropped modestly to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +50.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

China dominates compressors structure, accounting for X units, which was approx. 85% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), creating a 9.6% share of total exports. Taiwan (Chinese) (X units) and Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the turbo, rotary and reciporating displacement compressors exports, with a CAGR of +5.1% from 2012 to 2022. At the same time, Hong Kong SAR (+4.4%) and Japan (+3.5%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest turbo, rotary and reciporating displacement compressor supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +8.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-6.3% per year) and Taiwan (Chinese) (-3.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with an increase of 9.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 12% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in Eastern Asia

In 2022, supplies from abroad of turbo, rotary and reciporating displacement compressors increased by 14% to X units, rising for the fifth consecutive year after three years of decline. In general, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 25%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, imports of turbo, rotary and reciporating displacement compressors fell slightly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 14%. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Hong Kong SAR was the major importer of turbo, rotary and reciporating displacement compressors in Eastern Asia, with the volume of imports reaching X units, which was approx. 55% of total imports in 2022. It was distantly followed by Japan (X units), China (X units) and Taiwan (Chinese) (X units), together making up a 41% share of total imports. South Korea (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to turbo, rotary and reciporating displacement compressor imports into Hong Kong SAR stood at +17.7%. At the same time, Taiwan (Chinese) (+20.2%) and China (+6.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +20.2% from 2012-2022. Japan and South Korea experienced a relatively flat trend pattern. While the share of Hong Kong SAR (+30 p.p.) and Taiwan (Chinese) (+4.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-2.5 p.p.), South Korea (-5.5 p.p.) and Japan (-26.6 p.p.) displayed negative dynamics.

In value terms, the largest turbo, rotary and reciporating displacement compressor importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 93% of total imports.

In terms of the main importing countries, Japan, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, which is down by -16.8% against the previous year. Overall, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2017 a decrease of -0.6%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 Japan (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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