Overview of the Global Market for Machinery for Liquefying Air or Gases

Market Size for Machinery for Liquefying Air or Gases

The global air or gas liquefier market shrank to $X in 2022, with a decrease of -8.5% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the global market remained at a lower figure.

Production of Machinery for Liquefying Air or Gases

In value terms, air or gas liquefier production shrank to $X in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 41% against the previous year. Over the period under review, global production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Machinery for Liquefying Air or Gases

Exports

In 2022, overseas shipments of machinery for liquefying air or gases decreased by -46% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 81%. Over the period under review, the global exports attained the maximum at X units in 2021, and then reduced markedly in the following year.

In value terms, air or gas liquefier exports reduced sharply to $X in 2022. Over the period under review, total exports indicated slight growth 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, exports increased by +41.6% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

China was the major exporting country with an export of about X units, which accounted for 45% of total exports. Indonesia (X units) ranks second in terms of the total exports with an 11% share, followed by India (9.3%) and Italy (4.8%). Thailand (X units), the United States (X units), the United Arab Emirates (X units), the Netherlands (X units) and South Korea (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +19.8% from 2012 to 2022. At the same time, Indonesia (+53.2%), India (+40.0%), the Netherlands (+22.3%), the United Arab Emirates (+13.0%), South Korea (+2.3%) and Italy (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +53.2% from 2012-2022. By contrast, Thailand (-4.7%) and the United States (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Indonesia, India and the Netherlands increased by +29, +11, +8.7 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest air or gas liquefier supplying countries worldwide were China ($X), India ($X) and Italy ($X), with a combined 57% share of global exports. The United States, the Netherlands, the United Arab Emirates, Indonesia, South Korea and Thailand lagged somewhat behind, together comprising a further 22%.

Among the main exporting countries, Indonesia, with a CAGR of +57.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average air or gas liquefier export price stood at $X per unit in 2022, picking up by 22% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Thailand ($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 United Arab Emirates (+31.5%), while the other global leaders experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports

In 2022, approx. X units of machinery for liquefying air or gases were imported worldwide; dropping by -64.5% against 2021. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 702% against the previous year. As a result, imports reached the peak of X units, and then shrank dramatically in the following year.

In value terms, air or gas liquefier imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 202%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Tanzania represented the largest importer of machinery for liquefying air or gases in the world, with the volume of imports amounting to X units, which was near 39% of total imports in 2022. It was distantly followed by Canada (X units), Ecuador (X units), Russia (X units) and the United States (X units), together mixing up a 39% share of total imports. The following importers - Indonesia (X units), Singapore (X units) and Thailand (X units) - together made up 7.8% of total imports.

From 2012 to 2022, average annual rates of growth with regard to air or gas liquefier imports into Tanzania stood at +17.7%. At the same time, Canada (+55.5%), Thailand (+43.5%), Russia (+32.1%), Ecuador (+27.6%), the United States (+25.8%), Singapore (+23.5%) and Indonesia (+11.9%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +55.5% from 2012-2022. Canada (+14 p.p.), Tanzania (+8.6 p.p.), Ecuador (+7.3 p.p.), Russia (+5.4 p.p.), the United States (+3.4 p.p.) and Singapore (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest air or gas liquefier importing markets worldwide were Canada ($X), Russia ($X) and Singapore ($X), together comprising 75% of global imports.

Canada, with a CAGR of +53.8%, 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 global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average air or gas liquefier import price amounted to $X per unit, jumping by 256% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 260%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained 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 Russia ($X per unit), while Tanzania ($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 (+14.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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