Eastern Asia: Railway Track Fixture Market 2024

Railway Track Fixture Market Size in Eastern Asia

In 2021, the East Asian railway track fixture market decreased by -0.8% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption, however, continues to indicate a pronounced expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Railway Track Fixture Production in Eastern Asia

In value terms, railway track fixture production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Railway Track Fixture Exports

Exports in Eastern Asia

In 2021, overseas shipments of railway or tramway track fixtures and fittings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, railway track fixture exports surged to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 94% of total exports in 2021. The following exporters - South Korea (X tons) and Taiwan (Chinese) (X tons) - each accounted for a 4.7% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of railway or tramway track fixtures and fittings. At the same time, South Korea (+10.4%) and Taiwan (Chinese) (+1.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.4% from 2012-2021. While the share of China (-2.1 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest railway track fixture supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports.

In China, railway track fixture exports expanded at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+18.3% per year) and Taiwan (Chinese) (+0.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 33% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, 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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.2%), while the other leaders experienced mixed trends in the export price figures.

Railway Track Fixture Imports

Imports in Eastern Asia

After two years of growth, purchases abroad of railway or tramway track fixtures and fittings decreased by -44.1% to X tons in 2021. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 38%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, railway track fixture imports shrank significantly to $X in 2021. Overall, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 54% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) was the largest importer of railway or tramway track fixtures and fittings, mixing up 51% of total imports. China (X tons) took the second position in the ranking, followed by Japan (X tons), Hong Kong SAR (X tons) and South Korea (X tons). All these countries together took approx. 47% share of total imports. Macao SAR (X tons) took a little share of total imports.

Imports into Taiwan (Chinese) decreased at an average annual rate of -6.6% from 2012 to 2021. Hong Kong SAR experienced a relatively flat trend pattern. Japan (-4.1%), China (-10.4%), South Korea (-17.1%) and Macao SAR (-20.0%) illustrated a downward trend over the same period. Hong Kong SAR (+6.7 p.p.), Japan (+3.4 p.p.), Taiwan (Chinese) (+3.3 p.p.) and Macao SAR (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while China and South Korea saw its share reduced by -5.4% and -9.6% from 2012 to 2021, respectively.

In value terms, the largest railway track fixture importing markets in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 79% share of total imports. These countries were followed by South Korea, Hong Kong SAR and Macao SAR, which together accounted for a further 21%.

Hong Kong SAR, with a CAGR of +0.9%, 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, rising by 5.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 43% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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