ASEAN: Mounting Lifting Equipment Market 2025

Mounting Lifting Equipment Market Size in ASEAN

The ASEAN mounting lifting equipment market skyrocketed to $X in 2021, increasing by 17% against the previous year. In general, consumption recorded a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Production in ASEAN

In value terms, mounting lifting equipment production soared to $X in 2021 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 111% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Mounting Lifting Equipment Exports

Exports in ASEAN

In 2021, shipments abroad of lifting equipment designed for mounting on road vehicles was finally on the rise to reach X units after two years of decline. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 147% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, mounting lifting equipment exports surged to $X in 2021. Over the period under review, exports showed a prominent increase. The pace of growth was the most pronounced in 2013 when exports increased by 180%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand prevails in exports structure, recording X units, which was approx. 88% of total exports in 2021. It was distantly followed by Singapore (X units), achieving an 8.6% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles exports, with a CAGR of +19.8% from 2012 to 2021. At the same time, Malaysia (+19.6%) displayed positive paces of growth. By contrast, Singapore (-11.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Malaysia increased by +48 and +1.5 percentage points, respectively.

In value terms, Thailand ($X) remains the largest mounting lifting equipment supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled +17.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-12.5% per year) and Malaysia (+10.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by 29% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.2%), while the other leaders experienced a decline in the export price figures.

Mounting Lifting Equipment Imports

Imports in ASEAN

In 2021, the amount of lifting equipment designed for mounting on road vehicles imported in ASEAN declined to X units, shrinking by -13.4% against the previous year's figure. In general, imports showed a mild downturn. The pace of growth was the most pronounced in 2019 when imports increased by 64%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, mounting lifting equipment imports declined to $X in 2021. Over the period under review, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X units) represented the largest importer of lifting equipment designed for mounting on road vehicles, constituting 49% of total imports. Singapore (X units) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (11%), the Philippines (6.6%) and Indonesia (5.9%). The following importers - Myanmar (X units) and Vietnam (X units) - each amounted to a 4% share of total imports.

Imports into Thailand increased at an average annual rate of +7.4% from 2012 to 2021. At the same time, the Philippines (+27.3%) and Myanmar (+14.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +27.3% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, Malaysia (-3.6%), Indonesia (-8.6%) and Singapore (-9.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, the Philippines and Myanmar increased by +26, +5.9 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest mounting lifting equipment importing markets in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), together comprising 81% of total imports. Indonesia, the Philippines, Vietnam and Myanmar lagged somewhat behind, together accounting for a further 17%.

The Philippines, with a CAGR of +19.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, surging by 7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The pace of growth was the most pronounced in 2013 an increase of 15%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform