Asia: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Asia

In 2022, the Asian overhead travelling crane market decreased by -10.2% to $X, falling for the third year in a row after two years of growth. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Overhead Travelling Crane Production in Asia

In value terms, overhead travelling crane production shrank to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.2% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Overhead Travelling Crane Exports

Exports in Asia

In 2022, overhead travelling crane exports in Asia surged to X units, picking up by 64% against the previous year's figure. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +75.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, overhead travelling crane exports skyrocketed to $X in 2022. Overall, exports, however, recorded a mild slump. The pace of growth appeared the most rapid in 2018 when exports increased by 41% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the key exporting country with an export of around X units, which accounted for 67% of total exports. It was distantly followed by India (X units), mixing up a 22% share of total exports. The following exporters - Turkey (X units) and Malaysia (X units) - together made up 6.2% of total exports.

From 2012 to 2022, average annual rates of growth with regard to overhead travelling crane exports from China stood at +7.9%. At the same time, India (+18.2%) and Turkey (+3.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.2% from 2012-2022. Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of India increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest overhead travelling crane supplier in Asia, comprising 72% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by Turkey, with a 6.6% share.

In China, overhead travelling crane exports shrank by an average annual rate of -1.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+5.6% per year) and Turkey (+1.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, shrinking by -19.2% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while India ($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 (-1.9%), while the other leaders experienced a decline in the export price figures.

Overhead Travelling Crane Imports

Imports in Asia

In 2022, the amount of overhead travelling cranes on fixed support imported in Asia shrank remarkably to X units, dropping by -20.7% compared with the previous year's figure. Overall, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 45% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, overhead travelling crane imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 44%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Qatar (X units), distantly followed by Indonesia (X units), the Philippines (X units), India (X units), Taiwan (Chinese) (X units) and Sri Lanka (X units) represented the main importers of overhead travelling cranes on fixed support, together committing 53% of total imports. Vietnam (X units), Uzbekistan (X units), Thailand (X units), Pakistan (X units), Turkey (X units), Singapore (X units) and Malaysia (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to overhead travelling crane imports into Qatar stood at -13.6%. At the same time, Sri Lanka (+49.3%), the Philippines (+40.1%), Taiwan (Chinese) (+28.4%), Pakistan (+9.8%), Vietnam (+9.7%), Turkey (+4.6%) and Indonesia (+1.9%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia, with a CAGR of +49.3% from 2012-2022. By contrast, Uzbekistan (-1.5%), Thailand (-2.4%), India (-6.3%), Singapore (-8.6%) and Malaysia (-16.3%) illustrated a downward trend over the same period. The Philippines (+6.9 p.p.), Indonesia (+4.6 p.p.), Sri Lanka (+4.6 p.p.), Taiwan (Chinese) (+4.5 p.p.), Uzbekistan (+3.6 p.p.), Vietnam (+3.3 p.p.), Pakistan (+2.3 p.p.) and Turkey (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Qatar saw its share reduced by -5.8% and -29.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest overhead travelling crane importing markets in Asia were Indonesia ($X), India ($X) and Vietnam ($X), together comprising 33% of total imports. Taiwan (Chinese), Sri Lanka, Malaysia, Pakistan, Uzbekistan, Thailand, Turkey, Singapore, Qatar and the Philippines lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, Sri Lanka, with a CAGR of +27.4%, saw 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

The import price in Asia stood at $X per unit in 2022, increasing by 14% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 80%. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, 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 India ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+22.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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