Southern Asia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Southern Asia

After eight years of growth, the South Asian market for vacuum pumps and air or gas compressors decreased by -5.8% to $X in 2022. Over the period under review, consumption, however, enjoyed a remarkable increase. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Vacuum Pumps and Air or Gas Compressors in Southern Asia

In value terms, production of vacuum pumps and air or gas compressors shrank slightly to $X in 2022 estimated in export price. Overall, production, however, faced a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 26%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Southern Asia

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported in Southern Asia; surging by 2% on the previous year's figure. Over the period under review, exports recorded resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 36%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of vacuum pumps and air or gas compressors soared to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +72.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The biggest shipments were from India (X units), together finishing at 100% of total export.

India was also the fastest-growing in terms of the vacuum pumps and air or gas compressors exports, with a CAGR of +6.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest vacuum pump and air or gas compressor supplier in Southern Asia.

In India, exports of vacuum pumps and air or gas compressors expanded at an average annual rate of +3.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, with an increase of 18% against the previous year. Overall, the export price, however, showed a noticeable curtailment. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -3.1% per year.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Southern Asia

In 2022, the amount of vacuum pumps and air or gas compressors imported in Southern Asia contracted sharply to X units, waning by -23.6% on the year before. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 67%. As a result, imports reached the peak of X units, and then dropped sharply in the following year.

In value terms, imports of vacuum pumps and air or gas compressors reached $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +47.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

India represented the major importing country with an import of about X units, which recorded 80% of total imports. Pakistan (X units) took the second position in the ranking, distantly followed by Bangladesh (X units). All these countries together held near 18% share of total imports.

Imports into India increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, Pakistan (+10.3%) and Bangladesh (+9.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +10.3% from 2012-2022. While the share of Pakistan (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Southern Asia, comprising 73% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 16% share of total imports.

In India, imports of vacuum pumps and air or gas compressors increased at an average annual rate of +4.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+6.8% per year) and Bangladesh (+10.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, rising by 36% against the previous year. In general, the import price, however, showed a pronounced slump. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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