Malaysia: Lift And Hoist Market 2024

Lift And Hoist Market Size in Malaysia

The Malaysian lift and hoist market shrank to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Production in Malaysia

In value terms, lift and hoist production reduced to $X in 2022 estimated in export price. Overall, production saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Lift and hoist production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Lift And Hoist Exports

Exports from Malaysia

In 2022, overseas shipments of lifts and hoists decreased by X% to X units, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift and hoist exports fell significantly to $X in 2022. Over the period under review, exports showed a precipitous contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units), Vietnam (X units) and Taiwan (Chinese) (X units) were the main destinations of lift and hoist exports from Malaysia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and the Philippines ($X) constituted the largest markets for lift and hoist exported from Malaysia worldwide, together accounting for X% of total exports. Indonesia, Bangladesh, Taiwan (Chinese), Australia, Thailand and China lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lift and hoist export price amounted to $X per unit, declining by X% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into Malaysia

In 2022, purchases abroad of lifts and hoists increased by X% to X units, rising for the second consecutive year after five years of decline. Overall, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2015 when imports increased by X%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, lift and hoist imports contracted to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest lift and hoist supplier to Malaysia, accounting for a X% share of total imports. Moreover, lift and hoist imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was taken by Spain (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Spain (X% per year).

In value terms, China ($X) constituted the largest supplier of lifts and hoists to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

Import Prices by Country

The average lift and hoist import price stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the import price, however, posted buoyant growth. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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