Iceland: Crane Market 2020

Crane Market Size in Iceland

The revenue of the crane market in Iceland amounted to $X in 2018, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, crane consumption continues to indicate an outstanding increase. The most prominent rate of growth was recorded in 2017 when the market value increased by X% y-o-y. Over the period under review, the crane market attained its maximum level in 2018 and is expected to retain its growth in the near future.

Crane Exports

Exports from Iceland

In 2018, the exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane from Iceland totaled X units, declining by -X% against the previous year. Overall, crane exports continue to indicate a deep drop. The pace of growth appeared the most rapid in 2009 with an increase of X% year-to-year. Over the period under review, crane exports attained their peak figure at X units in 2007; however, from 2008 to 2018, exports remained at a lower figure.

In value terms, crane exports stood at $X in 2018. Overall, crane exports continue to indicate a sharp setback. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. Iceland exports peaked at $X in 2008; however, from 2009 to 2018, exports stood at a somewhat lower figure.

Exports by Country

The exports of the five major exporters of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, namely Sierra Leone, Saint Vincent and the Grenadines, Italy, China and Uganda, represented more than half of total export. Madagascar (X units) held the next position in the ranking, followed by Austria (X units). All these countries together occupied near X% share of total exports. Japan (X units), Germany (X units), the U.S. (X units) and Poland (X units) held a minor share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Sierra Leone (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest crane markets from Iceland were China ($X), Germany ($X) and Italy ($X), with a combined X% share of total exports. Japan, Austria, Poland, the U.S., Uganda, Sierra Leone, Iceland, Saint Vincent and the Grenadines and Madagascar lagged somewhat behind, together accounting for a further X Vincent and the Grenadines experienced the highest rates of growth with regard to exports, in terms of the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the crane export price in Iceland amounted to $X per unit, lowering by -X% against the previous year. Over the period under review, the crane export price continues to indicate a deep deduction. The growth pace was the most rapid in 2008 when the export price increased by X% y-o-y. In that year, the export prices for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane attained their peak level of $X per unit. From 2009 to 2018, the growth in terms of the export prices for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while Madagascar ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced mixed trends in the export price figures.

Crane Imports

Imports into Iceland

In 2018, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Iceland; jumping by X% against the previous year. Overall, crane imports continue to indicate skyrocketing growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Iceland imports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, crane imports stood at $X in 2018. Overall, crane imports continue to indicate an abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Iceland imports peaked at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of about X units, which finished at X% of total imports. Luxembourg (X units) occupied a X% share (based on tons) of total imports, which put it in second place, followed by Qatar (X%), Free Zones (X%) and Ethiopia (X%). Saudi Arabia (X units), Trinidad and Tobago (X units), Lao People's Democratic Republic (X units) and Iraq (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to crane imports into the United Arab Emirates stood at +X%. At the same time, Luxembourg (+X%), Ethiopia (+X%), Lao People's Democratic Republic (+X%), Trinidad and Tobago (+X%), Qatar (+X%), Saudi Arabia (+X%), Iraq (+X%) and Free Zones (+X%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. While the share of the United Arab Emirates (+X p.p.), Luxembourg (+X p.p.), Qatar (+X p.p.), Ethiopia (+X p.p.), Free Zones (+X p.p.), Saudi Arabia (+X p.p.), Trinidad and Tobago (+X p.p.) and Lao People's Democratic Republic (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane into Iceland, comprising X% of global imports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of global imports. It was followed by Qatar, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the United Arab Emirates stood at -X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-X% per year) and Qatar (-X% per year).

Import Prices by Country

In 2018, the crane import price in Iceland amounted to $X per unit, shrinking by -X% against the previous year. In general, the crane import price continues to indicate a sharp downturn. The pace of growth was the most pronounced in 2013 when the import price increased by X% y-o-y. Iceland import price peaked at $X per unit in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Saudi Arabia ($X per unit), while Free Zones ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Iraq, while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform