Asia-Pacific: Market for Tower Cranes And Portal Or Pedestal Jib Cranes 2024

Market Size for Tower Cranes And Portal Or Pedestal Jib Cranes in Asia-Pacific

The Asia-Pacific tower and portal cranes market fell to $X in 2023, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Tower Cranes And Portal Or Pedestal Jib Cranes in Asia-Pacific

In value terms, tower and portal cranes production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Exports of Tower Cranes And Portal Or Pedestal Jib Cranes

Exports in Asia-Pacific

In 2023, tower and portal cranes exports in Asia-Pacific surged to X units, jumping by X% compared with the previous year's figure. Overall, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tower and portal cranes exports surged to $X in 2023. Total exports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

China was the largest exporting country with an export of around X units, which finished at X% of total exports. Pakistan (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%). Malaysia (X units), India (X units) and Australia (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to tower and portal cranes exports from China stood at X%. At the same time, Pakistan (X%) and India (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Australia (X%), Malaysia (X%) and Singapore (X%) illustrated a downward trend over the same period. China (X p.p.) and Pakistan (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Singapore saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tower and portal cranes supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In China, tower and portal cranes exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2023, remaining constant against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Imports of Tower Cranes And Portal Or Pedestal Jib Cranes

Imports in Asia-Pacific

In 2023, overseas purchases of tower cranes and portal or pedestal jib cranes increased by X% to X units, rising for the third year in a row after two years of decline. Total imports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are likely to continue growth in the near future.

In value terms, tower and portal cranes imports fell modestly to $X in 2023. In general, imports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

Singapore was the key importing country with an import of around X units, which accounted for X% of total imports. South Korea (X units) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), India (X%) and Indonesia (X%). The following importers - Australia (X units) and China (X units) - together made up X% of total imports.

Imports into Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Australia experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and China (X%) illustrated a downward trend over the same period. Singapore (X p.p.), South Korea (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Australia, Indonesia and China saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), China ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Among the main importing countries, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2023, waning by X% against the previous year. Overall, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2015 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform