Eastern Asia: Electric Rail Locomotive Market 2024

Electric Rail Locomotive Market Size in Eastern Asia

The East Asian electric rail locomotive market shrank slightly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Electric Rail Locomotive Production in Eastern Asia

In value terms, electric rail locomotive production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 0.9% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Electric Rail Locomotive Exports

Exports in Eastern Asia

Electric rail locomotive exports surged to X units in 2022, rising by 155% compared with the previous year's figure. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 1,484% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, electric rail locomotive exports reduced markedly to $X in 2022. Over the period under review, exports, however, showed a mild slump. The most prominent rate of growth was recorded in 2015 with an increase of 289%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X units) and Japan (X units) prevails in exports structure, together creating 93% of total exports. It was distantly followed by China (X units), committing a 6.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +58.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest electric rail locomotive supplying countries in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 99.9% share of total exports.

Among the main exporting countries, South Korea, with a CAGR of +138.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, with a decrease of -68.3% against the previous year. In general, the export price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2018 an increase of 6,274%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+50.7%), while the other leaders experienced mixed trends in the export price figures.

Electric Rail Locomotive Imports

Imports in Eastern Asia

Electric rail locomotive imports skyrocketed to X units in 2022, with an increase of 390% on the year before. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 898%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, electric rail locomotive imports soared to $X in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 3,197%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Hong Kong SAR represented the key importer of electric rail locomotives in Eastern Asia, with the volume of imports accounting for X units, which was near 81% of total imports in 2022. It was distantly followed by South Korea (X units), committing an 18% share of total imports.

Hong Kong SAR was also the fastest-growing in terms of the electric rail locomotives imports, with a CAGR of +68.2% from 2012 to 2022. At the same time, South Korea (+47.5%) displayed positive paces of growth. From 2012 to 2022, the share of Hong Kong SAR increased by +81 percentage points.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported electric rail locomotives in Eastern Asia, comprising 99% of total imports. The second position in the ranking was held by South Korea ($X), with a 0.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR totaled +89.1%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, waning by -34.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 9,054% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices remained at a 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 Hong Kong SAR ($X per unit), while South Korea totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.4%).

Source: IndexBox Platform

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