South-Eastern Asia: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in South-Eastern Asia

The Southeast Asian pneumatic elevator market fell modestly to $X in 2022, which is down by -3% against the previous year. In general, consumption, however, enjoyed a strong expansion. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Pneumatic Elevator Production in South-Eastern Asia

In value terms, pneumatic elevator production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 77% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Pneumatic Elevator Exports

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of pneumatic elevators and conveyors, when their volume decreased by -37.5% to X units. In general, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 82% against the previous year. The volume of export peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, pneumatic elevator exports reduced markedly to $X in 2022. Overall, exports showed a pronounced downturn. The pace of growth was the most pronounced in 2019 when exports increased by 30% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X units) represented the major exporter of pneumatic elevators and conveyors, achieving 62% of total exports. Thailand (X units) ranks second in terms of the total exports with a 14% share, followed by Malaysia (12%) and the Philippines (8.4%). Vietnam (X units) followed a long way behind the leaders.

Exports from Singapore decreased at an average annual rate of -6.9% from 2012 to 2022. At the same time, the Philippines (+64.7%), Vietnam (+17.1%) and Thailand (+12.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +64.7% from 2012-2022. By contrast, Malaysia (-5.2%) illustrated a downward trend over the same period. While the share of Thailand (+12 p.p.), the Philippines (+8.3 p.p.) and Vietnam (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-20 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pneumatic elevator supplying countries in South-Eastern Asia were Singapore ($X), Malaysia ($X) and Thailand ($X), with a combined 91% share of total exports. Vietnam and the Philippines lagged somewhat behind, together comprising a further 6.2%.

The Philippines, with a CAGR of +60.0%, saw 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, increasing by 13% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by 131% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($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 (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Pneumatic Elevator Imports

Imports in South-Eastern Asia

Pneumatic elevator imports shrank rapidly to X units in 2022, dropping by -19% compared with the previous year. Over the period under review, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 107%. As a result, imports attained the peak of X units, and then fell markedly in the following year.

In value terms, pneumatic elevator imports soared to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Singapore represented the main importing country with an import of around X units, which finished at 59% of total imports. Vietnam (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (6.5%), the Philippines (5.9%) and Indonesia (5.4%). Thailand (X units) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Vietnam (+27.0%), the Philippines (+18.4%), Thailand (+9.9%), Indonesia (+4.5%) and Malaysia (+2.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +27.0% from 2012-2022. Vietnam (+14 p.p.) and the Philippines (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Indonesia and Malaysia saw its share reduced by -3.4%, -4.7% and -7.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported pneumatic elevators and conveyors in South-Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports. It was followed by Malaysia, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at +2.2%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+13.1% per year) and Malaysia (-4.7% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, with an increase of 55% against the previous year. Overall, the import price, however, recorded a drastic downturn. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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