Southern Asia: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Southern Asia

The South Asian air or gas liquefier market declined to $X in 2022, which is down by -5.2% against the previous year. In general, consumption, however, saw a buoyant increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Machinery for Liquefying Air or Gases in Southern Asia

In value terms, air or gas liquefier production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in Southern Asia

In 2022, approx. X units of machinery for liquefying air or gases were exported in Southern Asia; with an increase of 314% compared with 2021 figures. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 367% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, air or gas liquefier exports soared to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 267%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The shipments of the one major exporters of machinery for liquefying air or gases, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the machinery for liquefying air or gases exports, with a CAGR of +40.0% 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 air or gas liquefier supplier in Southern Asia.

In India, air or gas liquefier exports increased at an average annual rate of +32.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, which is down by -34% against the previous year. In general, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 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 -5.4% per year.

Imports of Machinery for Liquefying Air or Gases

Imports in Southern Asia

In 2022, approx. X units of machinery for liquefying air or gases were imported in Southern Asia; remaining constant against 2021 figures. Over the period under review, imports recorded a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by 100% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, air or gas liquefier imports surged to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 130%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units) was the largest importer of machinery for liquefying air or gases, constituting 59% of total imports. It was distantly followed by Bangladesh (X units) and Pakistan (X units), together making up a 41% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to air or gas liquefier imports into India stood at -2.6%. At the same time, Bangladesh (+7.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +7.2% from 2012-2022. By contrast, Pakistan (-5.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh increased by +14 percentage points.

In value terms, India ($X) constitutes the largest market for imported machinery for liquefying air or gases in Southern Asia, comprising 75% of total imports. The second position in the ranking was held by Pakistan ($X), with a 12% share of total imports.

In India, air or gas liquefier imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (-0.9% per year) and Bangladesh (+1.3% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, rising by 42% against the previous year. Over the period under review, the import price enjoyed a modest expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by 62%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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