Asia: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Asia

The Asian market for buckets, shovels, grabs and grips for ships’ derricks and cranes dropped to $X in 2022, with a decrease of -14.6% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +10.1% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Asia

In value terms, ship derrick buckets and shovels production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 13%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports in Asia

In 2022, ship derrick buckets and shovels exports in Asia surged to X units, increasing by 23% on the previous year's figure. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, ship derrick buckets and shovels exports soared to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 39%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, China (X units) represented the key exporter of buckets, shovels, grabs and grips for ships’ derricks and cranes, making up 61% of total exports. It was distantly followed by India (X units), South Korea (X units) and Turkey (X units), together achieving a 26% share of total exports. Malaysia (X units), Thailand (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ship derrick buckets and shovels exports from China stood at +10.2%. At the same time, Thailand (+37.1%), India (+30.6%), Singapore (+7.5%) and Malaysia (+6.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +37.1% from 2012-2022. By contrast, Turkey (-1.8%) and South Korea (-5.9%) illustrated a downward trend over the same period. China (+17 p.p.), India (+9.7 p.p.) and Thailand (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and South Korea saw its share reduced by -8% and -20.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ship derrick buckets and shovels supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +11.1%. In the other countries, the average annual rates were as follows: South Korea (-4.3% per year) and India (+24.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, stabilizing at the previous year. Overall, the export price continues to indicate a slight descent. The pace of growth was the most pronounced in 2015 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China ($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 (+5.2%), while the other leaders experienced more modest paces of growth.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports in Asia

In 2022, purchases abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 6.6% to X units, rising for the second consecutive year after five years of decline. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 +14.1% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 25%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, ship derrick buckets and shovels imports soared to $X in 2022. Overall, imports, however, saw a slight downturn. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X units), Japan (X units), Indonesia (X units), Singapore (X units), Thailand (X units), the United Arab Emirates (X units), the Philippines (X units), Israel (X units), China (X units), Kazakhstan (X units), Vietnam (X units) and Malaysia (X units) represented the key importer of buckets, shovels, grabs and grips for ships’ derricks and cranes in Asia, constituting 80% of total import. Myanmar (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +36.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together accounting for 44% of total imports. These countries were followed by South Korea, the Philippines, the United Arab Emirates, China, Israel, Thailand, Myanmar, Kazakhstan, Malaysia and Vietnam, which together accounted for a further 40%.

Among the main importing countries, Myanmar, with a CAGR of +39.8%, recorded the highest rates of growth with regard to the value of imports, 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 Asia amounted to $X per unit, surging by 11% against the previous year. Overall, the import price, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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