Eastern Asia: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in Eastern Asia

The East Asian pneumatic elevator market amounted to $X in 2022, remaining constant against the previous year. Over the period under review, consumption continues to indicate a resilient increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Pneumatic Elevator Production in Eastern Asia

In value terms, pneumatic elevator production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Pneumatic Elevator Exports

Exports in Eastern Asia

For the fifth consecutive year, Eastern Asia recorded growth in overseas shipments of pneumatic elevators and conveyors, which increased by 9% to X units in 2022. Overall, exports recorded strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 65% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, pneumatic elevator exports fell to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 63% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China prevails in exports structure, recording X units, which was approx. 97% of total exports in 2022. South Korea (X units) took a little share of total exports.

China was also the fastest-growing in terms of the pneumatic elevators and conveyors exports, with a CAGR of +18.1% from 2012 to 2022. At the same time, South Korea (+3.9%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +14 percentage points.

In value terms, China ($X) remains the largest pneumatic elevator supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by South Korea ($X), with a 16% share of total exports.

In China, pneumatic elevator exports expanded at an average annual rate of +6.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, with a decrease of -18.8% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2014 an increase of 18% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.0%).

Pneumatic Elevator Imports

Imports in Eastern Asia

Pneumatic elevator imports stood at X units in 2022, surging by 1.7% compared with the previous year's figure. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 32%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pneumatic elevator imports fell notably to $X in 2022. In general, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 61%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main importer of pneumatic elevators and conveyors, generating 53% of total imports. South Korea (X units) held the second position in the ranking, followed by Taiwan (Chinese) (X units). All these countries together took approx. 38% share of total imports. The following importers - Hong Kong SAR (X units) and Japan (X units) - each recorded an 8.4% share of total imports.

Imports into China decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, South Korea (+11.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.6% from 2012-2022. By contrast, Taiwan (Chinese) (-1.1%), Hong Kong SAR (-1.8%) and Japan (-2.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported pneumatic elevators and conveyors in Eastern Asia, comprising 72% of total imports. The second position in the ranking was held by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 7.4% share.

In China, pneumatic elevator imports plunged by an average annual rate of -6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+3.0% per year) and Japan (+5.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, which is down by -16.5% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The growth pace was the most rapid in 2019 an increase of 32% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 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 Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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