The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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With production of USD2.5 trillion, Asia Pacific is the world’s largest transport equipment producer. Asia Pacific plays a key role in production and exports of automotive, ships and motorcycles. Output growth is forecast to accelerate primarily due to expanding demand in emerging Asia Pacific markets. China will remain the key producer in Asia Pacific Europe, and drive transport equipment’s production growth..
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Asia Pacific is the largest producer of transport equipment globally. The transport equipment industry in Asia Pacific is forecast to see growth accelerate and witness a 6% CAGR over 2016-2025, outperforming Western Europe, North America and global growth. Rapidly growing demand in emerging Asia Pacific markets is expected to be the key driver, encouraging manufacturers to expand production capacities and improve supply chains.
China, accounting for 59% of transport equipment production value in Asia Pacific, remains the largest producer and the region’s growth driver. China is set to remain the key producer of transport equipment over the forecast period, thanks to rising output of motor vehicles, the recovering shipbuilding industry, and accelerating aircraft production. The Chinese transport equipment industry is forecast to expand at a CAGR of 8% over 2016-2025, totalling USD2.7 trillion in the latter year.
The automotive industry is forecast to be the largest subcategory in the transport equipment industry, and be the key growth driver in coming years. The automotive industry’s output in Asia Pacific is forecast to increase by 1.3 trillion in nominal terms over 2016-2025. The emerging middle class and growing demand for cars are forecast to be the main growth stimuli, with China, India and Indonesia offering most growth opportunities.
Asia Pacific remains the net exporter of transport equipment, thanks to a trade surplus in motor vehicles, motorcycles and ships. In addition, trade barriers continue to limit imports to Asia Pacific, in turn contributing to trade surplus.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.