Eastern Asia: Milking Machine Market 2024

Milking Machine Market Size in Eastern Asia

The East Asian milking machine market reached $X in 2022, approximately equating the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.1% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Milking Machine Production in Eastern Asia

In value terms, milking machine production totaled $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 27%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Milking Machine Exports

Exports in Eastern Asia

In 2022, approx. X units of milking machines were exported in Eastern Asia; rising by 37% compared with 2021 figures. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 156% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, milking machine exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 114%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X units) represented roughly 100% of total exports in 2022.

China was also the fastest-growing in terms of the milking machines exports, with a CAGR of +10.3% from 2012 to 2022. China (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest milking machine supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -8.0%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, with a decrease of -2.4% against the previous year. Over the period under review, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2016 an increase of 52%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -16.6% per year.

Milking Machine Imports

Imports in Eastern Asia

In 2022, supplies from abroad of milking machines increased by 12% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a pronounced increase. The pace of growth appeared the most rapid in 2014 when imports increased by 111% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, milking machine imports soared to $X in 2022. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 105% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X units) was the key importer of milking machines, mixing up 65% of total imports. China (X units) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%) and Taiwan (Chinese) (7.9%).

Japan was also the fastest-growing in terms of the milking machines imports, with a CAGR of +25.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+16.4%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, China (-11.2%) illustrated a downward trend over the same period. While the share of Japan (+56 p.p.) and Taiwan (Chinese) (+5.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-4.8 p.p.) and China (-57.1 p.p.) displayed negative dynamics.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together accounting for 97% of total imports.

Japan, with a CAGR of +28.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, rising by 24% against the previous year. Overall, the import price saw prominent growth. The growth pace was the most rapid in 2020 when the import price increased by 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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