Eastern Asia: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Eastern Asia

In 2022, the East Asian market for pulley tackle and hoists powered by an electric motor was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Pulley Tackle And Hoists Powered By An Electric Motor in Eastern Asia

In value terms, production of pulley tackle and hoists powered by an electric motor fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 14%. Over the period under review, production of reached the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports in Eastern Asia

In 2022, shipments abroad of pulley tackle and hoists powered by an electric motor decreased by -5.7% to X units for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +69.5% against 2018 indices. The pace of growth was the most pronounced in 2019 when exports increased by 32% against the previous year. The volume of export peaked at X units in 2021, and then reduced in the following year.

In value terms, exports of pulley tackle and hoists powered by an electric motor reached $X in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 22% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China prevails in motor structure, resulting at X units, which was approx. 96% of total exports in 2022. Taiwan (Chinese) (X units) took a relatively small share of total exports.

China was also the fastest-growing in terms of the pulley tackle and hoists powered by an electric motor exports, with a CAGR of +7.6% from 2012 to 2022. Taiwan (Chinese) (-7.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +14 percentage points.

In value terms, China ($X) remains the largest pulley tackle and hoists powered by an electric motor supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.2% share of total exports.

In China, exports of pulley tackle and hoists powered by an electric motor expanded at an average annual rate of +8.1% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, picking up by 18% against the previous year. In general, the export price, however, recorded a noticeable decrease. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.7%).

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports in Eastern Asia

In 2022, after three years of decline, there was significant growth in overseas purchases of pulley tackle and hoists powered by an electric motor, when their volume increased by 15% to X units. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 37%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of pulley tackle and hoists powered by an electric motor contracted to $X in 2022. In general, imports, however, recorded a mild descent. The most prominent rate of growth was recorded in 2014 when imports increased by 37% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units), China (X units) and South Korea (X units) represented the major importer of pulley tackle and hoists powered by an electric motor in Eastern Asia, mixing up 90% of total import. It was distantly followed by Taiwan (Chinese) (X units), generating a 7.3% share of total imports. Hong Kong SAR (X units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Japan (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported pulley tackle and hoists powered by an electric motor in Eastern Asia, comprising 47% of total imports. The second position in the ranking was held by Japan ($X), with a 22% share of total imports. It was followed by South Korea, with a 17% share.

In China, imports of pulley tackle and hoists powered by an electric motor plunged by an average annual rate of -3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.2% per year) and South Korea (+0.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, reducing by -22.7% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 29%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while South Korea ($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 (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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