Malaysia: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Malaysia

The Malaysian underground continuous-action elevator market contracted to $X in 2021, waning by -9.4% against the previous year. Overall, consumption, however, faced a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Underground Continuous-Action Elevator Production in Malaysia

In value terms, underground continuous-action elevator production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 36%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Underground Continuous-Action Elevator Exports

Exports from Malaysia

In 2021, approx. X units of underground continuous-action elevators and conveyors were exported from Malaysia; which is down by -51.5% on the previous year. Over the period under review, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 177% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, underground continuous-action elevator exports rose significantly to $X in 2021. In general, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of 138%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X units) was the main destination for underground continuous-action elevator exports from Malaysia, with a 84% share of total exports. Moreover, underground continuous-action elevator exports to Qatar exceeded the volume sent to the second major destination, Singapore (X units), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-44.3% per year) and Indonesia (-28.2% per year).

In value terms, Qatar ($X) emerged as the key foreign market for underground continuous-action elevators and conveyors exports from Malaysia, comprising 93% of total exports. The second position in the ranking was held by Indonesia ($X), with a 3.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-29.0% per year) and Singapore (-49.9% per year).

Export Prices by Country

The average underground continuous-action elevator export price stood at $X per unit in 2021, jumping by 120% against the previous year. Overall, the export price enjoyed noticeable growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Qatar ($X per unit), while the average price for exports to Singapore ($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 Indonesia (-0.7%).

Underground Continuous-Action Elevator Imports

Imports into Malaysia

In 2021, purchases abroad of underground continuous-action elevators and conveyors decreased by -31.5% to X units, falling for the fourth consecutive year after two years of growth. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 406% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, underground continuous-action elevator imports dropped markedly to $X in 2021. In general, imports faced a precipitous curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 494%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X units), Singapore (X units) and Sweden (X units) were the main suppliers of underground continuous-action elevator imports to Malaysia, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +36.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest underground continuous-action elevator suppliers to Malaysia were Singapore ($X), Taiwan (Chinese) ($X) and the United States ($X), together accounting for 66% of total imports. Sweden, China, Japan, Thailand, Hong Kong SAR and Germany lagged somewhat behind, together comprising a further 32%.

Sweden, with a CAGR of +23.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 underground continuous-action elevator import price stood at $X per unit in 2021, shrinking by -43.3% against the previous year. In general, the import price recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by 17%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :