South-Eastern Asia: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in South-Eastern Asia

In 2021, after eight years of decline, there was growth in the Southeast Asian underground continuous-action elevator market, when its value increased by 3.2% to $X. Overall, consumption, however, faced a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Underground Continuous-Action Elevator Production in South-Eastern Asia

In value terms, underground continuous-action elevator production reached $X in 2021 estimated in export price. Overall, production, however, saw a abrupt descent. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports in South-Eastern Asia

After two years of decline, overseas shipments of underground continuous-action elevators and conveyors increased by 20% to X units in 2021. In general, exports, however, recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 114% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, underground continuous-action elevator exports rose sharply to $X in 2021. Over the period under review, exports, however, faced a dramatic decrease. The growth pace was the most rapid in 2018 with an increase of 164%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore represented the main exporting country with an export of around X units, which recorded 64% of total exports. Indonesia (X units) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (16%). Malaysia (X units) held a relatively small share of total exports.

Exports from Singapore decreased at an average annual rate of -33.5% from 2012 to 2021. At the same time, Vietnam (+24.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +24.5% from 2012-2021. By contrast, Malaysia (-29.3%) and Indonesia (-32.3%) illustrated a downward trend over the same period. While the share of Vietnam (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-13.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest underground continuous-action elevator supplier in South-Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports. It was followed by Indonesia, with a 9.7% share.

In Singapore, underground continuous-action elevator exports declined by an average annual rate of -32.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+30.3% per year) and Indonesia (-37.2% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, falling by -11.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 160%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.7%), while the other leaders experienced more modest paces of growth.

Underground Continuous-Action Elevator Imports

Imports in South-Eastern Asia

Underground continuous-action elevator imports soared to X units in 2021, growing by 57% on 2020 figures. Over the period under review, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 161%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, underground continuous-action elevator imports skyrocketed to $X in 2021. In general, imports showed mild growth. The pace of growth was the most pronounced in 2019 with an increase of 259% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X units), Vietnam (X units) and Singapore (X units) represented the main importer of underground continuous-action elevators and conveyors in South-Eastern Asia, constituting 96% of total import. Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +77.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 97% of total imports.

Vietnam, with a CAGR of +70.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, surging by 10% against the previous year. Overall, the import price, however, showed a deep slump. The pace of growth was the most pronounced in 2019 an increase of 52%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (-2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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