ASEAN: Lifting Equipment Market 2024

Lifting Equipment Market Size in ASEAN

The ASEAN lifting equipment market surged to $X in 2022, with an increase of X% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lifting Equipment Production in ASEAN

In value terms, lifting equipment production declined slightly to $X in 2022 estimated in export price. In general, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Lifting Equipment Exports

Exports in ASEAN

Lifting equipment exports totaled X units in 2022, picking up by X% compared with the previous year. Overall, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by X%. 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, lifting equipment exports skyrocketed to $X in 2022. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the largest exporting country with an export of about X units, which resulted at X% of total exports. Thailand (X units) held the second position in the ranking, followed by Vietnam (X units), the Philippines (X units) and Indonesia (X units). All these countries together took approx. X% share of total exports. Malaysia (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lifting equipment exports from Singapore stood at X%. At the same time, the Philippines (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam and the Philippines increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Singapore, lifting equipment exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($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 mixed trends in the export price figures.

Lifting Equipment Imports

Imports in ASEAN

In 2022, purchases abroad of lifting equipment increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, lifting equipment imports totaled $X in 2022. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore represented the largest importing country with an import of about X units, which recorded X% of total imports. It was distantly followed by Indonesia (X units) and Vietnam (X units), together making up a X% share of total imports. Malaysia (X units) held a little share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of lifting equipment. At the same time, Indonesia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, falling by X% against the previous year. Overall, the import price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :