ASEAN: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in ASEAN

In 2022, the ASEAN electromagnetic lifting head market increased by X% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Electromagnetic Lifting Head Production in ASEAN

In value terms, electromagnetic lifting head production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a noticeable downturn. The growth pace was the most rapid in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Electromagnetic Lifting Head Exports

Exports in ASEAN

In 2022, the amount of electromagnets and electromagnetic lifting heads exported in ASEAN expanded slightly to X tons, surging by X% compared with 2021 figures. In general, exports, however, continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, electromagnetic lifting head exports reached $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand was the key exporter of electromagnets and electromagnetic lifting heads in ASEAN, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Vietnam (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%), Indonesia (X%) and Singapore (X%). The Philippines (X tons) took a minor share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of electromagnets and electromagnetic lifting heads. At the same time, Vietnam (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) and the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Malaysia, Indonesia and Thailand increased by X, X, X and X percentage points, respectively.

In value terms, the largest electromagnetic lifting head supplying countries in ASEAN were Vietnam ($X), Thailand ($X) and Singapore ($X), together comprising X% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price saw a deep reduction. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 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 Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas purchases of electromagnets and electromagnetic lifting heads, which increased by X% to X tons in 2022. Overall, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electromagnetic lifting head imports stood at $X in 2022. In general, imports, however, continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia represented the largest importing country with an import of around X tons, which amounted to X% of total imports. Thailand (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons) and Indonesia (X tons). All these countries together held approx. X% share of total imports. The Philippines (X tons) and Singapore (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the electromagnets and electromagnetic lifting heads imports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%) and Thailand (X%) displayed positive paces of growth. By contrast, the Philippines (X%), Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (X p.p.), Thailand (X p.p.), Indonesia (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electromagnetic lifting head importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded 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 leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price saw a deep setback. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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