Republic of Korea - Derricks, Cranes, Mobile Lifting Frames, Straddle Carriers And Work Trucks Fitted With A Crane - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCrane Price in South Korea - 2022
Contents:
- Crane Price in South Korea (CIF) - 2022
- Crane Price in South Korea (FOB) - 2022
- Crane Imports in South Korea
- Crane Exports in South Korea
Crane Price in South Korea (CIF) - 2022
In 2022, the average crane import price amounted to $11,870 per unit, falling by -4.2% against the previous year. In general, the import price saw a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 13% against the previous year. Over the period under review, average import prices attained the maximum at $18,575 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($231,143 per unit), while the price for Singapore ($6,745 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Crane Price in South Korea (FOB) - 2022
In 2022, the average crane export price amounted to $9,425 per unit, shrinking by -2.4% against the previous year. Overall, the export price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2013 when the average export price increased by 9.6%. As a result, the export price attained the peak level of $11,498 per unit. From 2014 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($14,351 per unit), while the average price for exports to Bangladesh ($3,641 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.
Crane Imports in South Korea
In 2022, approx. 31K units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into South Korea; with a decrease of -27.7% compared with 2021. Overall, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 129% against the previous year. As a result, imports reached the peak of 43K units, and then dropped sharply in the following year.
In value terms, crane imports dropped markedly to $370M in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 160%. As a result, imports attained the peak of $535M, and then shrank significantly in the following year.
| Import of Crane in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 59.3 | 95.2 | 268 | 181 | 45.1% |
| Japan | 27.9 | 42.1 | 126 | 84.2 | 44.5% |
| Germany | 15.7 | 7.9 | 33.3 | 12.5 | -7.3% |
| United Arab Emirates | 2.8 | 2.8 | 8.0 | 8.8 | 46.5% |
| Singapore | 7.2 | 2.6 | 0.4 | 4.0 | -17.8% |
| Italy | 7.8 | 5.4 | 10.2 | 2.8 | -28.9% |
| Others | 77.5 | 49.8 | 89.1 | 77.0 | -0.2% |
| Total | 198 | 206 | 535 | 370 | 23.2% |
Top Suppliers of Crane to South Korea in 2022:
- China (22.4K units)
- Japan (4.8K units)
- Singapore (0.6K units)
- United Arab Emirates (0.6K units)
- Germany (0.4K units)
- Italy (0.3K units)
Crane Exports in South Korea
In 2022, overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were finally on the rise to reach 19K units after two years of decline. Overall, exports, however, continue to indicate a deep contraction. The exports peaked at 35K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, crane exports expanded to $179M in 2022. In general, exports, however, showed a deep setback. The exports peaked at $322M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Crane in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 69.5 | 50.2 | 54.7 | 48.9 | -11.1% |
| Saudi Arabia | 6.2 | 24.4 | 26.2 | 23.4 | 55.7% |
| Vietnam | 24.3 | 15.2 | 10.7 | 11.4 | -22.3% |
| Thailand | 7.3 | 2.3 | 12.7 | 11.4 | 16.0% |
| China | 28.0 | 4.1 | 12.8 | 11.1 | -26.5% |
| Indonesia | 8.8 | 2.9 | 1.2 | 9.7 | 3.3% |
| Taiwan (Chinese) | 5.5 | 5.2 | 5.6 | 5.0 | -3.1% |
| United Arab Emirates | 15.9 | 1.3 | 0.6 | 3.1 | -42.0% |
| Philippines | 15.7 | 2.5 | 3.2 | 2.8 | -43.7% |
| Italy | 1.6 | 0.7 | 2.6 | 2.4 | 14.5% |
| Bangladesh | 8.7 | 0.9 | 1.2 | 2.0 | -38.7% |
| Others | 130 | 73.2 | 42.9 | 47.6 | -28.5% |
| Total | 322 | 183 | 174 | 179 | -17.8% |
Top Export Markets for Crane from South Korea in 2022:
- Russia (4.3K units)
- Vietnam (3.0K units)
- Saudi Arabia (2.6K units)
- Thailand (1.9K units)
- China (1.0K units)
- Indonesia (0.8K units)
- Bangladesh (0.5K units)
- Italy (0.3K units)
- Taiwan (Chinese) (0.3K units)
- United Arab Emirates (0.2K units)
- Philippines (0.2K units)
This report provides an in-depth analysis of the crane market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28221420 - Overhead travelling cranes on fixed support
- Prodcom 28221433 - Mobile lifting frames on tyres and straddle carriers
- Prodcom 28221435 - Transporter cranes, gantry cranes and bridge cranes
- Prodcom 28221440 - Tower cranes and portal or pedestal jib cranes
- Prodcom 28221450 - Self-propelled lifting equipment, of a kind mounted to run on rails in servicing building sites, quarries and the like
- Prodcom 28221460 - Lifting equipment designed for mounting on road vehicles
- Prodcom 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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