ASEAN: Crane Market 2024

Crane Market Size in ASEAN

The ASEAN crane market was estimated at $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Crane Production in ASEAN

In value terms, crane production contracted modestly to $X in 2022 estimated in export price. The total production indicated a strong expansion 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 most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports in ASEAN

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exported in ASEAN reduced to X units, which is down by X% on the previous year's figure. In general, exports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crane exports rose slightly to $X in 2022. Overall, exports showed a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, namely Thailand, Singapore and Indonesia, represented more than two-thirds of total export. It was distantly followed by Malaysia (X units), generating an X% share of total exports. The following exporters - Vietnam (X units) and the Philippines (X units) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest crane supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the export price figures.

Crane Imports

Imports in ASEAN

In 2022, purchases abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by X% to X units, rising for the second year in a row after five years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, crane imports surged to $X in 2022. Over the period under review, imports, however, saw a mild downturn. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia was the key importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in ASEAN, with the volume of imports accounting for X units, which was near X% of total imports in 2022. Thailand (X units) held the second position in the ranking, followed by Singapore (X units), Vietnam (X units) and Malaysia (X units). All these countries together took near X% share of total imports. The Philippines (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crane importing markets in ASEAN were Indonesia ($X), Singapore ($X) and Vietnam ($X), with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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