South-Eastern Asia: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in South-Eastern Asia

The Southeast Asian market for turbo, rotary and reciporating displacement compressors rose modestly to $X in 2022, surging by 4.1% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Turbo, Rotary and Reciporating Displacement Compressors in South-Eastern Asia

In value terms, production of turbo, rotary and reciporating displacement compressors reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 21% against the previous year. Over the period under review, production of attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in South-Eastern Asia

In 2022, shipments abroad of turbo, rotary and reciporating displacement compressors decreased by -25.2% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed a temperate expansion. The pace of growth was the most pronounced in 2018 when exports increased by 60% against the previous year. The volume of export peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors shrank modestly to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.9% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Thailand was the key exporting country with an export of around X units, which resulted at 67% of total exports. Singapore (X units) held the second position in the ranking, distantly followed by Indonesia (X units), Vietnam (X units) and the Philippines (X units). All these countries together held approx. 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to turbo, rotary and reciporating displacement compressor exports from Thailand stood at +6.5%. At the same time, the Philippines (+34.2%), Singapore (+7.7%), Indonesia (+5.9%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +34.2% from 2012-2022. Thailand (+17 p.p.), Singapore (+5.2 p.p.) and the Philippines (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest turbo, rotary and reciporating displacement compressor supplying countries in South-Eastern Asia were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 84% share of total exports. The Philippines and Vietnam lagged somewhat behind, together comprising a further 3.1%.

The Philippines, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, increasing by 34% against the previous year. Over the period under review, the export price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by 42% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in South-Eastern Asia

For the sixth consecutive year, South-Eastern Asia recorded growth in purchases abroad of turbo, rotary and reciporating displacement compressors, which increased by 7.4% to X units in 2022. In general, imports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 31%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors fell to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

Thailand represented the main importer of turbo, rotary and reciporating displacement compressors in South-Eastern Asia, with the volume of imports accounting for X units, which was approx. 57% of total imports in 2022. Vietnam (X units) took a 27% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.1%). The following importers - Singapore (X units), Indonesia (X units) and the Philippines (X units) - together made up 7.7% of total imports.

Imports into Thailand increased at an average annual rate of +14.4% from 2012 to 2022. At the same time, Vietnam (+22.6%), the Philippines (+13.1%) and Indonesia (+8.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +22.6% from 2012-2022. By contrast, Singapore (-3.1%) and Malaysia (-3.4%) illustrated a downward trend over the same period. Vietnam (+17 p.p.) and Thailand (+14 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Malaysia saw its share reduced by -9.1% and -22% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported turbo, rotary and reciporating displacement compressors in South-Eastern Asia, comprising 49% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Singapore, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled +8.7%. In the other countries, the average annual rates were as follows: Malaysia (-6.0% per year) and Singapore (-2.3% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, waning by -8.9% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 18% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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