Italy: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Italy

The Italian air or gas liquefier market contracted remarkably to $X in 2022, waning by -40.9% against the previous year. Over the period under review, consumption, however, enjoyed a prominent increase. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Production of Machinery for Liquefying Air or Gases in Italy

In value terms, air or gas liquefier production rose modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2019 with an increase of 35%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Machinery for Liquefying Air or Gases

Exports from Italy

Air or gas liquefier exports from Italy soared to X units in 2022, jumping by 58% compared with the previous year's figure. Over the period under review, exports saw a modest expansion. The growth pace was the most rapid in 2016 when exports increased by 400%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, air or gas liquefier exports soared to $X in 2022. Overall, exports posted a measured expansion. The growth pace was the most rapid in 2016 with an increase of 157% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for air or gas liquefier exports from Italy, with a 53% share of total exports. Moreover, air or gas liquefier exports to Canada exceeded the volume sent to the second major destination, Russia (X units), twofold. The third position in this ranking was held by South Korea (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+13.3% per year) and South Korea (+58.7% per year).

In value terms, South Korea ($X), Canada ($X) and Russia ($X) constituted the largest markets for air or gas liquefier exported from Italy worldwide, together comprising 86% of total exports.

South Korea, with a CAGR of +235.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average air or gas liquefier export price stood at $X per unit in 2022, shrinking by -26.5% against the previous year. In general, the export price, however, saw a mild expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports into Italy

For the third year in a row, Italy recorded growth in purchases abroad of machinery for liquefying air or gases, which increased by 67% to X units in 2022. Overall, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 300% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, air or gas liquefier imports skyrocketed to $X in 2022. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 256% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

Japan (X units), the Netherlands (X units) and China (X units) were the main suppliers of air or gas liquefier imports to Italy, together comprising 80% of total imports. Moreover, air or gas liquefier imports in Japan exceeded the figures recorded by the second-largest supplier, the Netherlands, twofold.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +14.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest air or gas liquefier suppliers to Italy were the Netherlands ($X), Japan ($X) and China ($X), with a combined 84% share of total imports.

Japan, with a CAGR of +290.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average air or gas liquefier import price stood at $X per unit in 2022, growing by 60% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 287% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+232.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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