ASEAN: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in ASEAN

The ASEAN overhead travelling crane market was finally on the rise to reach $X in 2022, after three years of decline. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Overhead Travelling Crane Production in ASEAN

In value terms, overhead travelling crane production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Overhead Travelling Crane Exports

Exports in ASEAN

In 2022, after three years of decline, there was significant growth in shipments abroad of overhead travelling cranes on fixed support, when their volume increased by 32% to X units. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 106% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, overhead travelling crane exports skyrocketed to $X in 2022. Overall, exports, however, showed a slight slump. The pace of growth was the most pronounced in 2016 when exports increased by 71%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X units) and Singapore (X units) was the key exporter of overhead travelling cranes on fixed support in ASEAN, creating 97% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Singapore (with a CAGR of +1.1%).

In value terms, Malaysia ($X) remains the largest overhead travelling crane supplier in ASEAN, comprising 79% of total exports. The second position in the ranking was held by Singapore ($X), with a 12% share of total exports.

In Malaysia, overhead travelling crane exports declined by an average annual rate of -1.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, picking up by 3.5% against the previous year. Overall, the export price, however, recorded a slight reduction. The pace of growth was the most pronounced in 2016 when the export price increased by 35% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Malaysia ($X per unit), while Singapore amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-1.9%).

Overhead Travelling Crane Imports

Imports in ASEAN

In 2022, purchases abroad of overhead travelling cranes on fixed support was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of 91%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, overhead travelling crane imports skyrocketed to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 90% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Indonesia (X units) and the Philippines (X units) represented the key importers of overhead travelling cranes on fixed support in 2022, resulting at approx. 29% and 24% of total imports, respectively. Vietnam (X units) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (12%), Singapore (9.1%) and Malaysia (8.6%). Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +40.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest overhead travelling crane importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Malaysia ($X), with a combined 80% share of total imports.

Vietnam, with a CAGR of +20.3%, saw the highest growth rate of the value of imports, in terms of 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 2022, the import price in ASEAN amounted to $X per unit, with an increase of 14% against the previous year. Over the period under review, the import price recorded a tangible increase. The pace of growth was the most pronounced in 2013 an increase of 119%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform