Southern Asia: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Southern Asia

The South Asian underground continuous-action elevator market reduced to $X.4B in 2022, remaining stable against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X.9B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Underground Continuous-Action Elevator Production in Southern Asia

In value terms, underground continuous-action elevator production fell modestly to $X.4B in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports in Southern Asia

In 2022, the amount of underground continuous-action elevators and conveyors exported in Southern Asia skyrocketed to X units, picking up by X% against 2021. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, underground continuous-action elevator exports skyrocketed to $X in 2022. Over the period under review, exports showed a mild expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, India (X units) represented the major exporter of underground continuous-action elevators and conveyors in Southern Asia, constituting X% of total export.

India was also the fastest-growing in terms of the underground continuous-action elevators and conveyors exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest underground continuous-action elevator supplier in Southern Asia.

In India, underground continuous-action elevator exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, falling by X% against the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Underground Continuous-Action Elevator Imports

Imports in Southern Asia

In 2022, purchases abroad of underground continuous-action elevators and conveyors was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, underground continuous-action elevator imports soared to $X in 2022. In general, imports, however, saw a abrupt descent. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Sri Lanka dominates imports structure, reaching X units, which was near X% of total imports in 2022. It was distantly followed by Nepal (X units), making up a X% share of total imports. India (X units) followed a long way behind the leaders.

Sri Lanka was also the fastest-growing in terms of the underground continuous-action elevators and conveyors imports, with a CAGR of X% from 2012 to 2022. At the same time, Nepal (X%) displayed positive paces of growth. By contrast, India (X%) illustrated a downward trend over the same period. While the share of Sri Lanka (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (X p.p.) displayed negative dynamics.

In value terms, the largest underground continuous-action elevator importing markets in Southern Asia were India ($X), Sri Lanka ($X) and Nepal ($X), with a combined X% share of total imports.

Among the main importing countries, Sri Lanka, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the import price faced a sharp decrease. The pace of growth was the most pronounced in 2019 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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