Southern Asia: Loading Machinery Market 2024

Loading Machinery Market Size in Southern Asia

The South Asian loading machinery market expanded to $X in 2022, surging by 5% against the previous year. Over the period under review, consumption enjoyed a strong expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Loading Machinery Production in Southern Asia

In value terms, loading machinery production reached $X in 2022 estimated in export price. In general, production recorded a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Loading Machinery Exports

Exports in Southern Asia

Loading machinery exports soared to X units in 2022, increasing by 16% against the year before. In general, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 83%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, loading machinery exports reached $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 104% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, India (X units) represented the key exporter of lifting, handling, loading or unloading machinery in Southern Asia, constituting 99% of total export.

India was also the fastest-growing in terms of the lifting, handling, loading or unloading machinery exports, with a CAGR of +13.6% from 2012 to 2022. While the share of India (+3.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest loading machinery supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +14.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, declining by -12.5% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 17%. As a result, the export price attained the peak level of $X per unit. From 2021 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 +0.6% per year.

Loading Machinery Imports

Imports in Southern Asia

In 2022, approx. X units of lifting, handling, loading or unloading machinery were imported in Southern Asia; with an increase of 2.3% against 2021. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 65% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, loading machinery imports reduced to $X in 2022. Over the period under review, imports posted a pronounced increase. The growth pace was the most rapid in 2018 when imports increased by 64%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

India was the largest importing country with an import of around X units, which amounted to 72% of total imports. Bangladesh (X units) took the second position in the ranking, distantly followed by Pakistan (X units). All these countries together took approx. 25% share of total imports. Sri Lanka (X units) took a minor share of total imports.

Imports into India increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Bangladesh (+21.7%), Pakistan (+21.3%) and Sri Lanka (+2.3%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +21.7% from 2012-2022. From 2012 to 2022, the share of Bangladesh and Pakistan increased by +13 and +5.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported lifting, handling, loading or unloading machinery in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 12% share of total imports. It was followed by Pakistan, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to +2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+15.0% per year) and Pakistan (+6.6% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, waning by -13.1% against the previous year. Overall, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 when the import price increased by 12% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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