In 2023, China dominated the global export market for machinery used in liquefying air or other gases, capturing a 48.55% share, experiencing a modest growth of 3.86% from the previous year. Belgium and Spain exhibited impressive growth rates of 44.38% and 53.28%, respectively, while Germany and the United States saw declines of 12.88% and 12.5%. Notably, Indonesia's export share skyrocketed by 524.56%, marking a significant market shift.
Future trends to watch include further capitalizing on emerging markets like Indonesia, while traditional leaders such as Germany and the United States should focus on reversing their downward trends. Increasing global demand for energy-efficient liquefaction technologies may drive further innovation and competition. Strategic partnerships and technological advancements will be essential in capturing market share and addressing growing environmental concerns.
Top countries in Export of Machinery for Liquefying Air or Other Gases Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 48.55 | 2023 | +2.6% | +3.86% | View data |
| 2 | 2 Belgium | 13.73 | 2023 | +3.8% | +44.38% | View data |
| 3 | 3 Germany | 7.57 | 2023 | -12.62% | -12.88% | View data |
| 4 | 4 Italy | 5.25 | 2023 | -0.53% | -1.88% | View data |
| 5 | 5 Spain | 5 | 2023 | +3.15% | +53.28% | View data |
| 6 | 6 Netherlands | 4.88 | 2023 | +3.2% | -0.22% | View data |
| 7 | 7 United Arab Emirates | 4.41 | 2023 | +6.13% | +1.76% | View data |
| 8 | 8 Japan | 3.77 | 2023 | +2.39% | -2.68% | View data |
| 9 | 9 United States | 3.44 | 2023 | -14.68% | -12.5% | View data |
| 10 | 10 Switzerland | 2.93 | 2023 | +1.41% | +16.02% | View data |
