Asia-Pacific: Crane Market 2025

Crane Market Size in Asia-Pacific

In 2022, the Asia-Pacific crane market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Crane Production in Asia-Pacific

In value terms, crane production contracted to $X in 2022 estimated in export price. Overall, production, however, recorded a modest increase. The growth pace was the most rapid in 2016 when the production volume increased by 9.1%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports in Asia-Pacific

In 2022, exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Asia-Pacific reduced to X units, with a decrease of -8.9% compared with 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 30%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, crane exports expanded markedly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the major exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Asia-Pacific, with the volume of exports reaching X units, which was near 69% of total exports in 2022. It was distantly followed by Japan (X units), constituting a 19% share of total exports. South Korea (X units) held a relatively small share of total exports.

China was also the fastest-growing in terms of the derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports, with a CAGR of +2.4% from 2012 to 2022. Japan experienced a relatively flat trend pattern. South Korea (-5.4%) illustrated a downward trend over the same period. While the share of China (+14 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest crane supplier in Asia-Pacific, comprising 71% of total exports. The second position in the ranking was held by Japan ($X), with a 16% share of total exports.

In China, crane exports expanded at an average annual rate of +2.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.5% per year) and South Korea (-6.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, growing by 24% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%), while the other leaders experienced a decline in the export price figures.

Crane Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 6.4% to X units, rising for the second consecutive year after five years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, crane imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a slight shrinkage. The growth pace was the most rapid in 2021 when imports increased by 24%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of crane imports in 2022 were India (X units), Indonesia (X units), South Korea (X units), Singapore (X units), Vietnam (X units), Australia (X units), Thailand (X units), Bangladesh (X units), Taiwan (Chinese) (X units), Malaysia (X units), Hong Kong SAR (X units) and the Philippines (X units), together recording 91% of total import.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), India ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 45% share of total imports. South Korea, Australia, Vietnam, Thailand, Taiwan (Chinese), Malaysia, Bangladesh, Hong Kong SAR and the Philippines lagged somewhat behind, together accounting for a further 42%.

Bangladesh, with a CAGR of +9.1%, 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 Asia-Pacific stood at $X per unit in 2022, rising by 8.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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