ASEAN: Truck Crane Market 2024

Truck Crane Market Size in ASEAN

The ASEAN truck crane market rose notably to $X in 2021, increasing by 9.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Truck Crane Production in ASEAN

In value terms, truck crane production contracted to $X in 2021 estimated in export price. Overall, production saw a noticeable slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by 281%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Truck Crane Exports

Exports in ASEAN

Truck crane exports surged to X units in 2021, increasing by 252% compared with 2020. In general, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, truck crane exports soared to $X in 2021. Overall, exports, however, saw a noticeable decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore represented the largest exporter of truck cranes in ASEAN, with the volume of exports resulting at X units, which was approx. 63% of total exports in 2021. Thailand (X units) took the second position in the ranking, distantly followed by the Philippines (X units). All these countries together held near 25% share of total exports. Malaysia (X units), Indonesia (X units) and Vietnam (X units) took a relatively small share of total exports.

Exports from Singapore decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, Vietnam (+35.8%), the Philippines (+20.1%), Thailand (+7.1%) and Indonesia (+1.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +35.8% from 2012-2021. By contrast, Malaysia (-7.7%) illustrated a downward trend over the same period. Thailand (+12 p.p.), the Philippines (+7.5 p.p.), Vietnam (+2.9 p.p.) and Indonesia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -24.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 94% share of total exports. Indonesia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 4.7%.

Among the main exporting countries, Vietnam, with a CAGR of +34.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 130% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+20.0%), while the other leaders experienced more modest paces of growth.

Truck Crane Imports

Imports in ASEAN

Truck crane imports skyrocketed to X units in 2021, increasing by 23% against the previous year. Total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.3% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 38% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, truck crane imports soared to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 40% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Myanmar (X units), Indonesia (X units) and Vietnam (X units) represented roughly 76% of total imports in 2021. Thailand (X units) ranks next in terms of the total imports with a 6% share, followed by Singapore (4.8%). The Philippines (X units), Cambodia (X units) and Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +41.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck crane importing markets in ASEAN were Myanmar ($X), Indonesia ($X) and Thailand ($X), together comprising 67% of total imports. Vietnam, Singapore, the Philippines, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together accounting for a further 30%.

Vietnam, with a CAGR of +39.1%, recorded the highest rates of growth with regard to 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

The import price in ASEAN stood at $X per unit in 2021, reducing by -6.1% against the previous year. Overall, the import price recorded a slight shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 23%. The level of import peaked at $X per unit in 2013; however, from 2014 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 Thailand ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform