Eastern Asia: Ship Propeller Market 2025

Ship Propeller Market Size in Eastern Asia

The East Asian ship propeller market dropped slightly to $X in 2022, which is down by -4.3% against the previous year. In general, consumption recorded a slight shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Ship Propeller Production in Eastern Asia

In value terms, ship propeller production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ship Propeller Exports

Exports in Eastern Asia

In 2022, shipments abroad of ships’ or boats’ propellers and blades therefor was finally on the rise to reach X tons after seven years of decline. In general, exports, however, showed a pronounced curtailment. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, ship propeller exports surged to $X in 2022. Over the period under review, exports, however, saw a perceptible decline. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan was the key exporter of ships’ or boats’ propellers and blades therefor in Eastern Asia, with the volume of exports finishing at X tons, which was near 62% of total exports in 2022. China (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (13%) and South Korea (9.4%).

From 2012 to 2022, average annual rates of growth with regard to ship propeller exports from Japan stood at -3.4%. At the same time, Taiwan (Chinese) (+4.1%) and China (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.1% from 2012-2022. By contrast, South Korea (-10.2%) illustrated a downward trend over the same period. While the share of China (+7.1 p.p.) and Taiwan (Chinese) (+6.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-10.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest ship propeller supplier in Eastern Asia, comprising 58% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total exports. It was followed by China, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan amounted to -5.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+3.9% per year) and China (+0.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, which is down by -5.7% against the previous year. In general, the export price saw a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 12%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.2%), while the other leaders experienced a decline in the export price figures.

Ship Propeller Imports

Imports in Eastern Asia

In 2022, overseas purchases of ships’ or boats’ propellers and blades therefor increased by 11% to X tons, rising for the second consecutive year after six years of decline. In general, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 44%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, ship propeller imports expanded sharply to $X in 2022. Overall, imports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 35%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China was the main importer of ships’ or boats’ propellers and blades therefor in Eastern Asia, with the volume of imports recording X tons, which was approx. 57% of total imports in 2022. It was distantly followed by South Korea (X tons) and Japan (X tons), together mixing up a 40% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of -1.6%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported ships’ or boats’ propellers and blades therefor in Eastern Asia, comprising 55% of total imports. The second position in the ranking was taken by South Korea ($X), with a 26% share of total imports. It was followed by Japan, with a 15% share.

In China, ship propeller imports shrank by an average annual rate of -7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-9.9% per year) and Japan (+1.4% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 2.3% against the previous year. In general, the import price, however, continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2013 when the import price increased by 12%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat 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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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