Asia: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Asia

The Asian underground continuous-action elevator market expanded sharply to $X in 2023, with an increase of X% against the previous year. Overall, consumption saw a prominent expansion. The level of consumption peaked in 2023 and is expected to retain growth in the near future.

Underground Continuous-Action Elevator Production in Asia

In value terms, underground continuous-action elevator production expanded rapidly to $X in 2023 estimated in export price. In general, production enjoyed prominent growth. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports in Asia

In 2023, the amount of underground continuous-action elevators and conveyors exported in Asia declined markedly to X units, shrinking by X% compared with the previous year. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of X units, and then declined dramatically in the following year.

In value terms, underground continuous-action elevator exports skyrocketed to $X in 2023. Overall, exports recorded a perceptible reduction. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

China was the main exporting country with an export of around X units, which finished at X% of total exports. It was distantly followed by Turkey (X units), Singapore (X units) and the United Arab Emirates (X units), together achieving a X% share of total exports. India (X units), Malaysia (X units), South Korea (X units), Israel (X units) and Japan (X units) held a relatively small share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Israel (X%), Turkey (X%), Malaysia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Japan experienced a relatively flat trend pattern. By contrast, India (X%), South Korea (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), China (X p.p.), the United Arab Emirates (X p.p.), Malaysia (X p.p.), Israel (X p.p.) and Japan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest underground continuous-action elevator supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In China, underground continuous-action elevator exports plunged by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Underground Continuous-Action Elevator Imports

Imports in Asia

In 2023, overseas purchases of underground continuous-action elevators and conveyors increased by X% to X units, rising for the fourth consecutive year after two years of decline. Overall, imports saw moderate growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, underground continuous-action elevator imports expanded modestly to $X in 2023. Over the period under review, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Uzbekistan (X units) and Kazakhstan (X units) were the major importers of underground continuous-action elevators and conveyors in Asia, together mixing up X% of total imports. Singapore (X units) ranks next in terms of the total imports with a X% share, followed by the Philippines (X%) and Turkey (X%). The following importers - Thailand (X units) and Iran (X units) - each finished at a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Turkey ($X) and Uzbekistan ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

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

Import Prices by Country

In 2023, the import price in Asia amounted to $X per unit, shrinking by X% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2023, 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 Uzbekistan ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform