Eastern Asia: Public Works Machinery Market 2024

Public Works Machinery Market Size in Eastern Asia

The East Asian public works machinery market was estimated at $X in 2021, with an increase of 4.1% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Public Works Machinery Production in Eastern Asia

In value terms, public works machinery production expanded to $X in 2021 estimated in export price. In general, production, however, showed a mild downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Public Works Machinery Exports

Exports in Eastern Asia

For the seventh consecutive year, Eastern Asia recorded decline in overseas shipments of machinery for public works and building, which decreased by -1.9% to X units in 2021. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 15% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, public works machinery exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 28%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X units, which was near 93% of total exports in 2021. It was distantly followed by Japan (X units), committing a 5.2% share of total exports. South Korea (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to public works machinery exports from China stood at -17.0%. At the same time, South Korea (+1.9%) and Japan (+1.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +1.9% from 2012-2021. Japan (+4.3 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest public works machinery supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was held by Japan ($X), with an 11% share of total exports.

In China, public works machinery exports increased at an average annual rate of +6.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.9% per year) and South Korea (-10.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, jumping by 18% against the previous year. Overall, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 an increase of 72% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.7%), while the other leaders experienced mixed trends in the export price figures.

Public Works Machinery Imports

Imports in Eastern Asia

Public works machinery imports skyrocketed to X units in 2021, increasing by 23% against the previous year. Over the period under review, imports recorded a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 99% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, public works machinery imports skyrocketed to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.1% against 2019 indices. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X units) represented the main importer of machinery for public works and building, constituting 67% of total imports. Japan (X units) ranks second in terms of the total imports with a 22% share, followed by China (6.9%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to public works machinery imports into South Korea stood at +20.2%. At the same time, Japan (+20.8%) and China (+3.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +20.8% from 2012-2021. By contrast, Taiwan (Chinese) (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and Japan increased by +25 and +9 percentage points, respectively.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 90% share of total imports.

Taiwan (Chinese), with a CAGR of +15.0%, recorded the highest growth rate of the value of imports, among the main importing countries 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 2021, with an increase of 14% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2015 an increase of 61% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+19.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :