Eastern Asia: Bulldozer Market 2024

Bulldozer Market Size in Eastern Asia

In 2022, the East Asian bulldozer market decreased by -0.7% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, continues to indicate a pronounced setback. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Bulldozer Production in Eastern Asia

In value terms, bulldozer production reduced to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Bulldozer Exports

Exports in Eastern Asia

In 2022, shipments abroad of bulldozers and angle dozers increased by 2% to X units, rising for the second consecutive year after three years of decline. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 87%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, bulldozer exports soared to $X in 2022. Over the period under review, exports recorded a slight increase. The most prominent rate of growth was recorded in 2021 when exports increased by 99%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Japan was the largest exporter of bulldozers and angle dozers in Eastern Asia, with the volume of exports resulting at X units, which was near 63% of total exports in 2022. It was distantly followed by China (X units), constituting a 36% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +2.1%).

In value terms, the largest bulldozer supplying countries in Eastern Asia were Japan ($X) and China ($X).

China, with a CAGR of +2.0%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, growing by 19% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 20% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.0%).

Bulldozer Imports

Imports in Eastern Asia

In 2022, after two years of decline, there was growth in purchases abroad of bulldozers and angle dozers, when their volume increased by 0.8% to X units. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 55%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, bulldozer imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 40% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan was the major importing country with an import of around X units, which resulted at 62% of total imports. Hong Kong SAR (X units) ranks second in terms of the total imports with a 12% share, followed by China (9.9%), South Korea (9.2%) and Taiwan (Chinese) (6%).

Japan was also the fastest-growing in terms of the bulldozers and angle dozers imports, with a CAGR of +21.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+7.9%) and Hong Kong SAR (+2.2%) displayed positive paces of growth. By contrast, South Korea (-1.4%) and China (-16.4%) illustrated a downward trend over the same period. While the share of Japan (+52 p.p.), Taiwan (Chinese) (+3.1 p.p.) and Hong Kong SAR (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-1.9 p.p.) and China (-51.8 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported bulldozers and angle dozers in Eastern Asia, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by South Korea, with an 8% share.

In Japan, bulldozer imports expanded at an average annual rate of +22.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (-11.1% per year) and South Korea (-1.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, reducing by -8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 22%. The level of import peaked at $X per unit in 2021, and then fell in the following year.

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 China (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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