Eastern Asia: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in Eastern Asia

In 2022, the East Asian non-electric pulley tackle market decreased by -5.2% to $X, falling for the seventh consecutive year after four years of growth. Overall, consumption, however, showed a mild reduction. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Non-Electric Pulley Tackle Production in Eastern Asia

In value terms, non-electric pulley tackle production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 22%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Non-Electric Pulley Tackle Exports

Exports in Eastern Asia

In 2022, non-electric pulley tackle exports in Eastern Asia shrank to X units, declining by -2% compared with 2021. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +19.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 21%. As a result, the exports attained the peak of X units, and then contracted slightly in the following year.

In value terms, non-electric pulley tackle exports expanded to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

China represented the largest exporting country with an export of around X units, which recorded 88% of total exports. It was distantly followed by Japan (X units), committing a 10% share of total exports.

China was also the fastest-growing in terms of the pulley tackle and hoists, non-powered by electric motor exports, with a CAGR of +5.9% from 2012 to 2022. At the same time, Japan (+1.9%) displayed positive paces of growth. China (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -4.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest non-electric pulley tackle supplier in Eastern Asia, comprising 76% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +5.1%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, growing by 6.6% against the previous year. In general, the export price, however, saw a pronounced descent. The growth pace was the most rapid in 2021 an increase of 7.6% against the previous year. Over the period under review, the export prices attained the maximum 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 Japan ($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 China (-0.7%).

Non-Electric Pulley Tackle Imports

Imports in Eastern Asia

In 2022, non-electric pulley tackle imports in Eastern Asia soared to X units, growing by 25% on the year before. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 44% against the previous year. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, non-electric pulley tackle imports dropped dramatically to $X in 2022. Over the period under review, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Japan was the major importer of pulley tackle and hoists, non-powered by electric motor in Eastern Asia, with the volume of imports accounting for X units, which was near 48% of total imports in 2022. It was distantly followed by South Korea (X units), Taiwan (Chinese) (X units) and China (X units), together making up a 46% share of total imports. Hong Kong SAR (X units) and Democratic People's Republic of Korea (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Democratic People's Republic of Korea (with a CAGR of +30.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together comprising 85% of total imports. Taiwan (Chinese), Hong Kong SAR and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 15%.

Democratic People's Republic of Korea, with a CAGR of +12.3%, recorded the highest growth rate of 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, waning by -33.7% against the previous year. In general, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when the import price increased by 15%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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