Southern Asia: Crane Market 2024

Crane Market Size in Southern Asia

In 2022, the South Asian crane market increased by X% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Crane Production in Southern Asia

In value terms, crane production fell slightly to $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Crane Exports

Exports in Southern Asia

After two years of decline, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by X% to X units in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, crane exports skyrocketed to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India dominates exports structure, resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by Pakistan (X units), committing a X% share of total exports. Sri Lanka (X units) and Bangladesh (X units) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane. At the same time, Bangladesh (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. Pakistan experienced a relatively flat trend pattern. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India decreased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest crane supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2022, the average annual growth rate of value in India totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

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

Crane Imports

Imports in Southern Asia

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported in Southern Asia; jumping by X% against the previous year. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, crane imports skyrocketed to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

India was the largest importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Southern Asia, with the volume of imports reaching X units, which was approx. X% of total imports in 2022. It was distantly followed by Bangladesh (X units) and Pakistan (X units), together creating a X% share of total imports. Sri Lanka (X units) held a relatively small share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%), Pakistan (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in India totaled X%. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price showed a pronounced decrease. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Sri Lanka ($X per unit) and India ($X per unit), while Bangladesh ($X per unit) and Pakistan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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