Asia-Pacific: Truck Crane Market 2022

Truck Crane Market Size in Asia-Pacific

After four years of growth, the Asia-Pacific truck crane market decreased by -14.3% to $X in 2021. Overall, consumption, however, recorded a pronounced increase. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Truck Crane Production in Asia-Pacific

In value terms, truck crane production declined modestly to $X in 2021 estimated in export price. In general, production, however, showed a mild expansion. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Truck Crane Exports

Exports in Asia-Pacific

Truck crane exports surged to X units in 2021, growing by 101% on the previous year's figure. Overall, exports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 364%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, truck crane exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the key exporting country with an export of around X units, which amounted to 50% of total exports. Japan (X units) ranks second in terms of the total exports with a 22% share, followed by Australia (19%) and South Korea (5%).

Exports from China decreased at an average annual rate of -3.7% from 2012 to 2021. At the same time, Australia (+38.3%) and South Korea (+1.5%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +38.3% from 2012-2021. By contrast, Japan (-1.8%) illustrated a downward trend over the same period. Australia (+18 p.p.) significantly strengthened its position in terms of the total exports, while Japan and China saw its share reduced by -1.7% and -14.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest truck crane supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.8% share of total exports. It was followed by Australia, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -4.8%. In the other countries, the average annual rates were as follows: Japan (-19.4% per year) and Australia (+15.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, waning by -16.1% against the previous year. Over the period under review, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the export price increased by 340%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.2%), while the other leaders experienced a decline in the export price figures.

Truck Crane Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded decline in overseas purchases of truck cranes, which decreased by -9.7% to X units in 2021. In general, imports saw a perceptible descent. The pace of growth was the most pronounced in 2018 when imports increased by 49% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, truck crane imports surged to $X in 2021. Overall, imports recorded a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X units), distantly followed by Australia (X units), South Korea (X units), Japan (X units) and Indonesia (X units) represented the key importers of truck cranes, together constituting 79% of total imports. The following importers - Afghanistan (X units), Lao People's Democratic Republic (X units), Vietnam (X units), Bangladesh (X units) and the Philippines (X units) - together made up 13% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +49.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck crane importing markets in Asia-Pacific were Australia ($X), South Korea ($X) and Japan ($X), together comprising 62% of total imports. Afghanistan, Indonesia, Thailand, Vietnam, Bangladesh, the Philippines and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 24%.

Among the main importing countries, Afghanistan, with a CAGR of +52.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, with an increase of 30% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, truck crane import price increased by +58.8% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 45%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Afghanistan ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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