Pneumatic Elevator Market

The article provides a detailed analysis of the global pneumatic elevator and conveyor market, covering trends in consumption, production, imports, and exports. The market is expected to see growth in both consumption and value over the next eight years, with a projected increase in market volume and value. Key insights include the countries with the highest volumes of consumption and production, as well as the major exporting and importing countries. Trends in average prices and growth rates are also highlighted, offering a comprehensive overview of the global market dynamics.

Market Forecast

Driven by increasing demand for pneumatic elevators and conveyors worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1.9M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $14.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Pneumatic Elevators And Conveyors

In 2022, consumption of pneumatic elevators and conveyors was finally on the rise to reach 1.3M units for the first time since 2019, thus ending a two-year declining trend. In general, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak volume of 1.5M units. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global pneumatic elevator market value fell to $8.7B in 2022, which is down by -10.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a prominent expansion. Over the period under review, the global market reached the maximum level at $9.8B in 2021, and then contracted in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Denmark (171K units), China (116K units) and Spain (110K units), with a combined 31% share of global consumption. The United States, Canada, India, the Philippines, Turkey, Japan, Russia, Brazil, Thailand and the UK lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +60.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest pneumatic elevator markets worldwide were the United States ($1.4B), Turkey ($1.1B) and Japan ($949M), with a combined 39% share of the global market. Russia, China, India, Thailand, the Philippines, Brazil, Denmark, the UK, Canada and Spain lagged somewhat behind, together accounting for a further 31%.

The Philippines, with a CAGR of +58.5%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of pneumatic elevator per capita consumption was registered in Denmark (29 units per 1000 persons), followed by Canada (2.7 units per 1000 persons), Spain (2.3 units per 1000 persons) and Turkey (0.6 units per 1000 persons), while the world average per capita consumption of pneumatic elevator was estimated at 0.2 units per 1000 persons.

In Denmark, pneumatic elevator per capita consumption increased at an average annual rate of +29.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+23.3% per year) and Spain (-2.7% per year).

Production

World Production of Pneumatic Elevators And Conveyors

Global pneumatic elevator production dropped modestly to 1.3M units in 2022, declining by -3.8% compared with 2021. Overall, production, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. As a result, production attained the peak volume of 1.3M units, and then dropped slightly in the following year.

In value terms, pneumatic elevator production dropped to $7.3B in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.1% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 21%. Over the period under review, global production reached the maximum level at $8.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were India (229K units), China (199K units) and Denmark (173K units), with a combined 48% share of global production. Spain, the United States, Turkey, Japan, Singapore, France, the UK, Brazil, Russia and Italy lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +33.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Pneumatic Elevators And Conveyors

In 2022, overseas purchases of pneumatic elevators and conveyors increased by 90% to 541K units for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed strong growth. The growth pace was the most rapid in 2018 when imports increased by 118%. Global imports peaked at 823K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, pneumatic elevator imports soared to $1.2B in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 16% against the previous year. As a result, imports reached the peak of $1.2B; afterwards, it flattened through to 2022.

Imports By Country

India (159K units) and Canada (106K units) represented roughly 49% of total imports in 2022. The Philippines (62K units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (6%). South Africa (22K units), the United States (20K units), Mozambique (14K units), Russia (13K units), Chile (11K units) and the United Arab Emirates (9.7K units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +60.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($224M) constitutes the largest market for imported pneumatic elevators and conveyors worldwide, comprising 19% of global imports. The second position in the ranking was taken by India ($58M), with a 4.9% share of global imports. It was followed by Canada, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +6.4%. In the other countries, the average annual rates were as follows: India (-3.9% per year) and Canada (+12.0% per year).

Import Prices By Country

In 2022, the average pneumatic elevator import price amounted to $2,170 per unit, dropping by -39.3% against the previous year. Overall, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 93% against the previous year. Over the period under review, average import prices attained the peak figure at $9,271 per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 the United States ($11,397 per unit), while Mozambique ($77 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 States (+1.4%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Pneumatic Elevators And Conveyors

In 2022, global exports of pneumatic elevators and conveyors soared to 521K units, increasing by 53% on the previous year's figure. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 106% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, pneumatic elevator exports shrank to $1.1B in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 11%. The global exports peaked at $1.2B in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

India was the major exporter of pneumatic elevators and conveyors in the world, with the volume of exports reaching 321K units, which was approx. 62% of total exports in 2022. China (85K units) held the second position in the ranking, distantly followed by Singapore (27K units). All these countries together took near 21% share of total exports. The following exporters - France (12K units), Italy (11K units) and South Africa (8.8K units) - each finished at a 6.2% share of total exports.

India was also the fastest-growing in terms of the pneumatic elevators and conveyors exports, with a CAGR of +62.9% from 2012 to 2022. At the same time, South Africa (+31.2%), China (+26.0%), Singapore (+9.2%), France (+6.2%) and Italy (+4.9%) displayed positive paces of growth. India (+59 p.p.) and China (+7.4 p.p.) significantly strengthened its position in terms of the global exports, while France, Italy and Singapore saw its share reduced by -4.7%, -5.2% and -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pneumatic elevator supplying countries worldwide were Italy ($155M), China ($85M) and France ($58M), together accounting for 26% of global exports. India, Singapore and South Africa lagged somewhat behind, together comprising a further 6.1%.

India, with a CAGR of +15.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average pneumatic elevator export price amounted to $2,165 per unit, which is down by -37.8% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 58% against the previous year. The global export price peaked at $11,833 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($13,660 per unit), while India ($165 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-1.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform