Eastern Asia: Diesel-Electric Locomotive Market 2022

Diesel-Electric Locomotive Market Size in Eastern Asia

The East Asian diesel-electric locomotive market reached $X in 2021, almost unchanged from the previous year. In general, consumption, however, enjoyed a resilient increase. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Diesel-Electric Locomotive Production in Eastern Asia

In value terms, diesel-electric locomotive production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 35% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Diesel-Electric Locomotive Exports

Exports in Eastern Asia

In 2021, approx. X units of diesel-electric locomotives were exported in Eastern Asia; which is down by -5.4% compared with 2020. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 113%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, diesel-electric locomotive exports fell to $X in 2021. Overall, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 246% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X units) represented the main exporter of diesel-electric locomotives, comprising 70% of total exports. Japan (X units) ranks second in terms of the total exports with a 13% share, followed by South Korea (17%).

From 2012 to 2021, average annual rates of growth with regard to diesel-electric locomotive exports from China stood at -17.2%. At the same time, Japan (+14.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +14.9% from 2012-2021. By contrast, South Korea (-8.5%) illustrated a downward trend over the same period. While the share of Japan (+12 p.p.) and South Korea (+8.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-20.4 p.p.) displayed negative dynamics.

In value terms, South Korea ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 99.9% share of total exports.

South Korea, with a CAGR of +7.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, remaining stable against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diesel-electric locomotive export price decreased by -17.0% against 2018 indices. The growth pace was the most rapid in 2017 when the export price increased by 63%. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.5%), while the other leaders experienced a decline in the export price figures.

Diesel-Electric Locomotive Imports

Imports in Eastern Asia

In 2021, overseas purchases of diesel-electric locomotives increased by 14% to X units, rising for the third year in a row after three years of decline. Over the period under review, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 269% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, diesel-electric locomotive imports expanded to $X in 2021. In general, imports, however, saw a slight reduction. The growth pace was the most rapid in 2020 with an increase of 153% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Democratic People's Republic of Korea (X units) and Hong Kong SAR (X units) represented the largest importers of diesel-electric locomotives in Eastern Asia, together achieving 71% of total imports. China (X units) held the next position in the ranking, distantly followed by Hong Kong SAR (X units). All these countries together held approx. 34% share of total imports. took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to diesel-electric locomotives imports into Democratic People's Republic of Korea and Hong Kong SAR stood at +23.6% and -9.7%, respectively. At the same time, China (+22.0%) displayed positive paces of growth. By contrast, Hong Kong SAR (-9.7%) and Taiwan (Chinese) (-15.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Democratic People's Republic of Korea and China increased by +39 and +16 percentage points, respectively. Taiwan (Chinese) (-26.7 p.p.) and Hong Kong SAR (-28.5 p.p.) saw their shares reduced.

In value terms, China ($X) constitutes the largest market for imported diesel-electric locomotives in Eastern Asia, comprising 88% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.3% share of total imports. It was followed by Hong Kong SAR, with a 3.7% share.

In China, diesel-electric locomotive imports expanded at an average annual rate of +14.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-25.4% per year) and Hong Kong SAR (-5.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, dropping by -7.9% against the previous year. In general, the import price faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the import price increased by 138%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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