ASEAN: Market for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type 2024

Market Size for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in ASEAN

The ASEAN market for elevators and conveyors other than pneumatic, belt- or bucket-type shrank significantly to $X in 2023, which is down by X% against the previous year. The total consumption indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Production of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in ASEAN

In value terms, production of elevators and conveyors other than pneumatic, belt- or bucket-type expanded rapidly to $X in 2023 estimated in export price. Over the period under review, production enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, production of growth remained at a lower figure.

Exports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Exports in ASEAN

In 2023, the amount of elevators and conveyors other than pneumatic, belt- or bucket-type exported in ASEAN surged to X units, picking up by X% compared with 2022 figures. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2023, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of elevators and conveyors other than pneumatic, belt- or bucket-type skyrocketed to $X in 2023. Total exports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore was the largest exporter of elevators and conveyors other than pneumatic, belt- or bucket-type in ASEAN, with the volume of exports resulting at X units, which was near X% of total exports in 2023. Malaysia (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (X%). Thailand (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to elevators and conveyors other than pneumatic, belt- or bucket-type exports from Singapore stood at X%. At the same time, the Philippines (X%), Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. While the share of the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Malaysia (X p.p.), Thailand (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest elevators and conveyors other than pneumatic, belt- or bucket-type supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Malaysia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the export price figures.

Imports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Imports in ASEAN

After two years of growth, purchases abroad of elevators and conveyors other than pneumatic, belt- or bucket-type decreased by X% to X units in 2023. In general, imports showed a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports of attained the peak figure at X units in 2022, and then fell rapidly in the following year.

In value terms, imports of elevators and conveyors other than pneumatic, belt- or bucket-type contracted to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of imports of elevators and conveyors other than pneumatic, belt- or bucket-type in 2023 were Malaysia (X units), Thailand (X units), Singapore (X units), Vietnam (X units) and the Philippines (X units), together reaching X% of total import. It was distantly followed by Indonesia (X units), creating a X% share of total imports. Cambodia (X units) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest elevators and conveyors other than pneumatic, belt- or bucket-type importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Vietnam ($X), with a combined X% share of total imports. Malaysia, Singapore, the Philippines and Cambodia lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2023, jumping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform