Luxembourg: Truck Crane Market 2022

Truck Crane Market Size in Luxembourg

In 2021, the Luxembourg truck crane market decreased by -95.5% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption recorded a abrupt decline. Over the period under review, the market attained the peak level at $X in 2020, and then plummeted in the following year.

Truck Crane Exports

Exports from Luxembourg

In 2021, overseas shipments of truck cranes increased by 60% to X units, rising for the fourth year in a row after three years of decline. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 76% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, truck crane exports surged to $X in 2021. In general, exports, however, recorded a precipitous curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for truck crane exports from Luxembourg, accounting for a 69% share of total exports. Moreover, truck crane exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. France (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-12.3% per year) and France (-3.1% per year).

In value terms, Germany ($X) remains the key foreign market for truck crane exports from Luxembourg, comprising 68% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at -18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-30.9% per year) and France (-17.4% per year).

Export Prices by Country

The average truck crane export price stood at $X per unit in 2021, dropping by -2% against the previous year. Over the period under review, the export price saw a sharp shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 86% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to France ($X per unit) and Belgium ($X per unit), while the average price for exports to Germany ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-8.5%), while the prices for the other major destinations experienced a decline.

Truck Crane Imports

Imports into Luxembourg

In 2021, after two years of growth, there was significant decline in supplies from abroad of truck cranes, when their volume decreased by -41.5% to X units. Over the period under review, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by 90%. Over the period under review, imports hit record highs at X units in 2020, and then dropped notably in the following year.

In value terms, truck crane imports shrank remarkably to $X in 2021. Overall, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2019 when imports increased by 238%. Imports peaked at $X in 2020, and then declined remarkably in the following year.

Imports by Country

France (X units), Belgium (X units) and Germany (X units) were the main suppliers of truck crane imports to Luxembourg, with a combined 91% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +50.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of truck crane to Luxembourg, comprising 53% of total imports. The second position in the ranking was held by Germany ($X), with a 24% share of total imports. It was followed by France, with a 19% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and France (+60.2% per year).

Import Prices by Country

In 2021, the average truck crane import price amounted to $X per unit, shrinking by -5.1% against the previous year. Over the period under review, the import price, however, saw pronounced growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by 142%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :