Asia: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Asia

In 2021, the Asian mounting lifting equipment market was finally on the rise to reach $X after two years of decline. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.2% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Production in Asia

In value terms, mounting lifting equipment production expanded slightly to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.6% against 2018 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Mounting Lifting Equipment Exports

Exports in Asia

In 2021, exports of lifting equipment designed for mounting on road vehicles in Asia surged to X units, jumping by 23% on 2020. In general, exports, however, saw a slight contraction. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, mounting lifting equipment exports skyrocketed to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea was the largest exporting country with an export of about X units, which finished at 39% of total exports. It was distantly followed by China (X units), Japan (X units), Thailand (X units) and Turkey (X units), together achieving a 55% share of total exports. Bahrain (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mounting lifting equipment exports from South Korea stood at -3.1%. At the same time, China (+20.2%), Thailand (+19.8%) and Turkey (+9.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.2% from 2012-2021. Bahrain experienced a relatively flat trend pattern. By contrast, Japan (-10.1%) illustrated a downward trend over the same period. China (+16 p.p.), Thailand (+10 p.p.) and Turkey (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -4.9% and -21.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest mounting lifting equipment supplier in Asia, comprising 43% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by China, with an 18% share.

In South Korea, mounting lifting equipment exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-6.8% per year) and China (+25.8% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, increasing by 5.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2014 an increase of 10% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the other leaders experienced more modest paces of growth.

Mounting Lifting Equipment Imports

Imports in Asia

In 2021, supplies from abroad of lifting equipment designed for mounting on road vehicles was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports recorded moderate growth. The pace of growth appeared the most rapid in 2013 when imports increased by 110%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Qatar (X units) represented the main importer of lifting equipment designed for mounting on road vehicles in Asia, generating 98% of total import.

Qatar was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles imports, with a CAGR of +4.6% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Qatar ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in Asia.

From 2012 to 2021, the average annual growth rate of value in Qatar totaled +1.6%.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, falling by -19.7% against the previous year. In general, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2019 an increase of 413% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to -2.9% per year.

Source: IndexBox Platform

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