Price for Electric Motors; of an Output Not Exceeding 37.5W in China - 2024
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in China (FOB) - 2024
- Price for Electric Motors; of an Output Not Exceeding 37.5W in China (CIF) - 2024
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in China
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in China
Price for Electric Motors; of an Output Not Exceeding 37.5W in China (FOB) - 2024
The average export price for electric motors stood at $1.9 per unit in December 2023, approximately mirroring the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 an increase of 4.1% m-o-m. Over the period under review, the average export prices hit record highs at $2.0 per unit in March 2023; however, from April 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Mexico ($4.1 per unit), while the average price for exports to Austria ($835 per thousand units) was amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in China (CIF) - 2024
In December 2023, the average import price for electric motors amounted to $2.6 per unit, with an increase of 2.3% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2023 when the average import price increased by 13% against the previous month. The import price peaked in December 2023.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was South Korea ($8.0 per unit), while the price for Cambodia ($841 per thousand units) was amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by South Korea (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Electric Motors; of an Output Not Exceeding 37.5W in China
Exports of electric motors from China reduced to 1.7B units in 2022, declining by -13.5% against the year before. Over the period under review, exports saw a pronounced decline. The growth pace was the most rapid in 2021 with an increase of 17%. As a result, the exports reached the peak of 2B units, and then contracted in the following year.
In value terms, exports of electric motors dropped to $3.5B in 2022. The total export value increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. As a result, the exports attained the peak of $3.6B, and then dropped slightly in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 415 | 386 | 420 | 473 | 4.5% |
| Hong Kong SAR | 541 | 463 | 588 | 345 | -13.9% |
| Japan | 296 | 247 | 313 | 334 | 4.1% |
| South Korea | 223 | 197 | 246 | 263 | 5.7% |
| Germany | 161 | 165 | 256 | 193 | 6.2% |
| Netherlands | 163 | 113 | 127 | 174 | 2.2% |
| Thailand | 142 | 136 | 159 | 174 | 7.0% |
| Mexico | 136 | 123 | 174 | 171 | 7.9% |
| India | 103 | 72.8 | 105 | 128 | 7.5% |
| Malaysia | 49.1 | 78.8 | 94.9 | 100 | 26.8% |
| Vietnam | 38.1 | 51.9 | 57.2 | 95.7 | 35.9% |
| Austria | 37.2 | 37.0 | 56.2 | 45.3 | 6.8% |
| Singapore | 19.3 | 22.3 | 26.9 | 31.5 | 17.7% |
| Others | 643 | 681 | 930 | 946 | 13.7% |
| Total | 2,966 | 2,773 | 3,553 | 3,473 | 5.4% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from China in 2022:
- Hong Kong SAR (276.2M units)
- Japan (156.6M units)
- South Korea (156.5M units)
- Netherlands (137.0M units)
- India (127.2M units)
- United States (115.2M units)
- Vietnam (99.7M units)
- Thailand (93.4M units)
- Germany (68.4M units)
- Austria (45.2M units)
- Malaysia (44.8M units)
- Mexico (41.2M units)
- Singapore (33.7M units)
Imports of Electric Motors; of an Output Not Exceeding 37.5W in China
In 2022, overseas purchases of electric motors decreased by -25.3% to 188M units, falling for the second year in a row after two years of growth. Over the period under review, imports showed a abrupt downturn. The growth pace was the most rapid in 2020 when imports increased by 31% against the previous year. As a result, imports attained the peak of 325M units. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of electric motors shrank to $1.5B in 2022. The total import value increased at an average annual rate of +8.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23%. Imports peaked at $1.6B in 2021, and then reduced in the following year.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 184 | 176 | 188 | 213 | 5.0% |
| Japan | 167 | 169 | 201 | 196 | 5.5% |
| Thailand | 149 | 131 | 177 | 192 | 8.8% |
| Germany | 137 | 144 | 160 | 132 | -1.2% |
| Switzerland | 78.0 | 92.3 | 124 | 102 | 9.4% |
| Cambodia | 63.4 | 51.7 | 62.2 | 72.9 | 4.8% |
| Philippines | 51.8 | 51.5 | 64.7 | 47.2 | -3.1% |
| South Korea | 45.2 | 42.2 | 49.5 | 41.7 | -2.7% |
| Taiwan (Chinese) | 61.3 | 60.4 | 61.8 | 40.4 | -13.0% |
| Austria | 28.7 | 31.5 | 42.7 | 31.8 | 3.5% |
| Indonesia | 17.5 | 18.5 | 21.8 | 22.9 | 9.4% |
| India | 20.5 | 21.6 | 21.6 | 15.9 | -8.1% |
| Malaysia | 9.2 | 14.6 | 13.3 | 9.1 | -0.4% |
| Others | 132 | 407 | 442 | 351 | 38.5% |
| Total | 1,144 | 1,412 | 1,629 | 1,467 | 8.6% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to China in 2022:
- Thailand (51.7M units)
- Japan (25.3M units)
- Taiwan (Chinese) (13.6M units)
- Vietnam (13.2M units)
- Switzerland (10.4M units)
- South Korea (9.0M units)
- Indonesia (8.7M units)
- Germany (8.5M units)
- Philippines (7.6M units)
- Austria (5.1M units)
- Cambodia (4.0M units)
- India (3.6M units)
- Malaysia (3.0M units)
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