Japan: Public Works Machinery Market 2024

Public Works Machinery Market Size in Japan

The Japanese public works machinery market was estimated at $X in 2021, standing approx. at the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Public Works Machinery Production in Japan

In value terms, public works machinery production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Public Works Machinery Exports

Exports from Japan

In 2021, shipments abroad of machinery for public works and building decreased by -11.7% to X units, falling for the second year in a row after two years of growth. Overall, total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.8% 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 decreased by -33.7% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 34%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, public works machinery exports fell to $X in 2021. In general, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -32.5% against 2019 indices. The growth pace was the most rapid in 2015 when exports increased by 28% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X units), China (X units) and the Netherlands (X units) were the main destinations of public works machinery exports from Japan, with a combined 43% share of total exports. Taiwan (Chinese), the Philippines, Indonesia, Italy, the United States, the UK, Singapore, Australia, Russia and Burkina Faso lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +52.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and the Netherlands ($X) constituted the largest markets for public works machinery exported from Japan worldwide, with a combined 43% share of total exports. Taiwan (Chinese), the Philippines, Indonesia, Italy, the United States, the UK, Singapore, Australia, Russia and Burkina Faso lagged somewhat behind, together accounting for a further 45%.

The UK, with a CAGR of +65.5%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average public works machinery export price amounted to $X per unit, remaining constant against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 7.4%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Burkina Faso ($X per unit) and Australia ($X per unit), while the average price for exports to the UK ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Japan

In 2021, supplies from abroad of machinery for public works and building decreased by -20.2% to X units for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 92% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then fell markedly in the following year.

In value terms, public works machinery imports shrank notably to $X in 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 58% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest public works machinery supplier to Japan, with a 52% share of total imports. Moreover, public works machinery imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. China (X units) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.2% per year) and China (+34.1% per year).

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to Japan, comprising 53% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by China, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.5% per year) and China (+10.6% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, falling by -17.8% against the previous year. Overall, the import price faced a deep downturn. The most prominent rate of growth was recorded in 2015 when the average import price decreased by -15.1%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per unit) and the United States ($X per unit), while the price for Spain ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-16.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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