Eastern Asia: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Eastern Asia

In 2021, the East Asian mechanical shovel and excavator market decreased by -45% to $X, falling for the seventh year in a row after three years of growth. Over the period under review, consumption faced a abrupt contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Eastern Asia

In value terms, mechanical shovel and excavator production expanded modestly to $X in 2021 estimated in export price. In general, production, however, saw a noticeable descent. The growth pace was the most rapid in 2018 when the production volume increased by 4.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Eastern Asia

In 2021, overseas shipments of mechanical shovels, excavators and shovel loaders were finally on the rise to reach X units after two years of decline. Total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 45% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X units) and China (X units) represented roughly 88% of total exports in 2021. It was distantly followed by South Korea (X units), generating a 12% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +13.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest mechanical shovel and excavator supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 100% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +8.7%, recorded 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

The export price in Eastern Asia stood at $X per unit in 2021, growing by 12% against the previous year. In general, the export price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 14%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

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 South Korea ($X per unit), while China ($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 (+3.0%), while the other leaders experienced a decline in the export price figures.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Eastern Asia

In 2021, purchases abroad of mechanical shovels, excavators and shovel loaders decreased by -18.4% to X units, falling for the third consecutive year after three years of growth. Over the period under review, imports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 45%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports fell markedly to $X in 2021. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 55%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of mechanical shovel and excavator imports in 2021 were China (X units), Taiwan (Chinese) (X units), South Korea (X units) and Hong Kong SAR (X units), together resulting at 89% of total import. It was distantly followed by Japan (X units), comprising a 10% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator importing markets in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 73% of total imports. These countries were followed by Hong Kong SAR and Japan, which together accounted for a further 27%.

In terms of the main importing countries, Japan, with a CAGR of +12.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, surging by 1.5% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Japan ($X per unit) and China ($X per unit), while Hong Kong SAR ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :