Malaysia: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Malaysia

After three years of decline, the Malaysian electromagnetic lifting head market increased by 0.5% to $X in 2022. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Electromagnetic lifting head consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Electromagnetic Lifting Head Production in Malaysia

In value terms, electromagnetic lifting head production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 37%. Electromagnetic lifting head production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Electromagnetic Lifting Head Exports

Exports from Malaysia

In 2022, after two years of decline, there was significant growth in shipments abroad of electromagnets and electromagnetic lifting heads, when their volume increased by 7.4% to X tons. In general, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2019 when exports increased by 38% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, electromagnetic lifting head exports fell slightly to $X in 2022. Over the period under review, exports, however, faced a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by 24%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), China (X tons) and India (X tons) were the main destinations of electromagnetic lifting head exports from Malaysia, together comprising 58% of total exports. Mexico, the Philippines, the UK, Japan, Singapore, Poland, Germany and the Czech Republic lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +147.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest markets for electromagnetic lifting head exported from Malaysia worldwide, together accounting for 65% of total exports. The Philippines, Mexico, India, Singapore, the UK, Germany, the Czech Republic and Poland lagged somewhat behind, together comprising a further 24%.

The Czech Republic, with a CAGR of +145.9%, recorded the highest rates of growth with regard to 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 electromagnetic lifting head export price stood at $X per ton in 2022, waning by -10.9% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports into Malaysia

In 2022, purchases abroad of electromagnets and electromagnetic lifting heads was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electromagnetic lifting head imports fell to $X in 2022. Overall, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 55% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest electromagnetic lifting head supplier to Malaysia, accounting for a 71% share of total imports. Moreover, electromagnetic lifting head imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold. The third position in this ranking was held by Singapore (X tons), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+158.8% per year) and Singapore (-7.1% per year).

In value terms, China ($X) constituted the largest supplier of electromagnets and electromagnetic lifting heads to Malaysia, comprising 43% of total imports. The second position in the ranking was held by Spain ($X), with a 10% share of total imports. It was followed by Singapore, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+115.2% per year) and Singapore (-6.1% per year).

Import Prices by Country

The average electromagnetic lifting head import price stood at $X per ton in 2022, waning by -14.1% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 27%. The import price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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