Eastern Asia: Market for Vacuum Cleaners With Motor 2024

Market Size for Vacuum Cleaners With Motor in Eastern Asia

After three years of growth, the East Asian vacuum cleaner with motor market decreased by -13.6% to $X in 2021. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Vacuum Cleaners With Motor in Eastern Asia

In value terms, vacuum cleaner with motor production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 15%. As a result, production attained the peak level of $X, and then dropped in the following year.

Exports of Vacuum Cleaners With Motor

Exports in Eastern Asia

In 2021, vacuum cleaner with motor exports in Eastern Asia rose markedly to X tons, with an increase of 8.5% compared with the previous year. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.0% against 2015 indices. The pace of growth was the most pronounced in 2020 when exports increased by 25% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, vacuum cleaner with motor exports soared to $X in 2021. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 32% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 96% of total exports in 2021. Hong Kong SAR (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Hong Kong SAR (+6.7%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +6.7% from 2012-2021. China (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vacuum cleaner with motor supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 5.3% share of total exports.

In China, vacuum cleaner with motor exports expanded at an average annual rate of +11.6% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 8.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.0%. The growth pace was the most rapid in 2014 when the export price increased by 17% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.5%).

Imports of Vacuum Cleaners With Motor

Imports in Eastern Asia

In 2021, overseas purchases of vacuum cleaners with motor increased by 16% to X tons, rising for the fifth consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.1% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 30% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, vacuum cleaner with motor imports rose sharply to $X in 2021. In general, imports showed a resilient increase. The pace of growth was the most pronounced in 2013 when imports increased by 28% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Japan (X tons) and South Korea (X tons) represented the largest importers of vacuum cleaners with motor in Eastern Asia, together recording near 71% of total imports. Hong Kong SAR (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by China (10%) and Taiwan (Chinese) (7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, with a combined 85% share of total imports.

In terms of the main importing countries, China, with a CAGR of +45.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with a decrease of -8.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2016 when the import price increased by 13%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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