Eastern Asia: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Eastern Asia

The East Asian machinery electrical parts market fell to $X in 2022, with a decrease of -4.4% against the previous year. Overall, consumption, however, saw a strong increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Eastern Asia

In value terms, machinery electrical parts production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 81%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports in Eastern Asia

In 2022, the amount of electrical parts of machinery or apparatus exported in Eastern Asia shrank to X tons, which is down by -8.7% compared with the year before. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 560% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machinery electrical parts exports rose remarkably to $X in 2022. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 366%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China dominates exports structure, reaching X tons, which was approx. 70% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons), together mixing up a 28% share of total exports. Japan (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +8.8% from 2012 to 2022. At the same time, Hong Kong SAR (+13.4%) and South Korea (+6.9%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.4% from 2012-2022. By contrast, Taiwan (Chinese) (-3.6%) and Japan (-5.4%) illustrated a downward trend over the same period. China (+14 p.p.) and Hong Kong SAR (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while Japan and Taiwan (Chinese) saw its share reduced by -3.8% and -15.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest machinery electrical parts supplier in Eastern Asia, comprising 54% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports. It was followed by Hong Kong SAR, with a 19% share.

In China, machinery electrical parts exports increased at an average annual rate of +21.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.5% per year) and Hong Kong SAR (+15.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 17% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machinery electrical parts export price increased by +73.0% against 2018 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 33%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.4%), while the other leaders experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports in Eastern Asia

In 2022, machinery electrical parts imports in Eastern Asia contracted significantly to X tons, with a decrease of -43.2% compared with 2021 figures. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 63%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, machinery electrical parts imports fell rapidly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 87%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the main importer of electrical parts of machinery or apparatus in Eastern Asia, with the volume of imports finishing at X tons, which was approx. 61% of total imports in 2022. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons), together achieving a 39% share of total imports.

Imports into Hong Kong SAR increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+16.6%) and Japan (+2.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.6% from 2012-2022. South Korea experienced a relatively flat trend pattern. While the share of Hong Kong SAR (+35 p.p.), Taiwan (Chinese) (+11 p.p.) and Japan (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in Eastern Asia, comprising 76% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.5% share of total imports. It was followed by Taiwan (Chinese), with a 9% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR stood at +12.9%. In the other countries, the average annual rates were as follows: South Korea (-1.1% per year) and Taiwan (Chinese) (+14.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, dropping by -12.1% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 54% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, 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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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