Malaysia: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Malaysia

The Malaysian mechanical shovel and excavator market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a abrupt slump. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Malaysia

In 2021, shipments abroad of mechanical shovels, excavators and shovel loaders decreased by -0.3% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 199%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports shrank to $X in 2021. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 210% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Papua New Guinea (X units) was the main destination for mechanical shovel and excavator exports from Malaysia, accounting for a 52% share of total exports. Moreover, mechanical shovel and excavator exports to Papua New Guinea exceeded the volume sent to the second major destination, Singapore (X units), ninefold. The third position in this ranking was held by Gabon (X units), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-11.7% per year) and Gabon (+5.0% per year).

In value terms, Papua New Guinea ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Malaysia, comprising 58% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 7.4% share of total exports. It was followed by Singapore, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Papua New Guinea amounted to -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-10.9% per year) and Singapore (-14.4% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, declining by -6.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 when the average export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Malaysia

After two years of decline, overseas purchases of mechanical shovels, excavators and shovel loaders increased by 80% to X units in 2021. Over the period under review, imports, however, showed a deep downturn. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Overall, imports, however, showed a deep slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of mechanical shovel and excavator imports to Malaysia, together accounting for 75% of total imports. Indonesia, Thailand, India, South Korea, Ireland and the UK lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Indonesia ($X) appeared to be the largest mechanical shovel and excavator suppliers to Malaysia, with a combined 67% share of total imports. Thailand, South Korea, the United States, India, Ireland and the UK lagged somewhat behind, together accounting for a further 30%.

In terms of the main suppliers, India, with a CAGR of +12.5%, 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 more modest paces of growth.

Import Prices by Country

The average mechanical shovel and excavator import price stood at $X per unit in 2021, picking up by 14% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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