Eastern Asia: Tamping Machinery Market 2024

Tamping Machinery Market Size in Eastern Asia

The East Asian tamping machinery market contracted notably to $X in 2021, with a decrease of -31.9% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Tamping Machinery Production in Eastern Asia

In value terms, tamping machinery production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 39%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Tamping Machinery Exports

Exports in Eastern Asia

In 2021, the amount of tamping or compacting machinery exported in Eastern Asia soared to X units, picking up by 31% on the previous year's figure. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 1,030% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, tamping machinery exports soared to $X in 2021. The total export value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of tamping or compacting machinery, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the tamping or compacting machinery exports, with a CAGR of +6.7% from 2012 to 2021. From 2012 to 2021, the share of China increased by +3.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest tamping machinery supplier in Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +6.6%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, approximately reflecting the previous year. Over the period under review, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 859%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -0.1% per year.

Tamping Machinery Imports

Imports in Eastern Asia

In 2021, supplies from abroad of tamping or compacting machinery decreased by -80% to X units for the first time since 2018, thus ending a two-year rising trend. In general, imports saw a perceptible contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 264% against the previous year. Over the period under review, imports reached the maximum at X units in 2020, and then reduced rapidly in the following year.

In value terms, tamping machinery imports reduced to $X in 2021. Over the period under review, imports showed a abrupt downturn. The growth pace was the most rapid in 2019 when imports increased by 64%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan was the main importer of tamping or compacting machinery in Eastern Asia, with the volume of imports resulting at X units, which was near 50% of total imports in 2021. South Korea (X units) ranks second in terms of the total imports with a 19% share, followed by Hong Kong SAR (13%), Taiwan (Chinese) (10%) and China (7%).

Imports into Japan decreased at an average annual rate of -1.8% from 2012 to 2021. At the same time, South Korea (+58.2%) and Hong Kong SAR (+5.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +58.2% from 2012-2021. By contrast, Taiwan (Chinese) (-8.1%) and China (-17.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, Hong Kong SAR and Japan increased by +19, +7.2 and +3.9 percentage points, respectively.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Among the main importing countries, South Korea, with a CAGR of +49.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, picking up by 371% against the previous year. Over the period under review, the import price, however, saw a deep downturn. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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