Asia-Pacific: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Asia-Pacific

The Asia-Pacific mounting lifting equipment market rose modestly to $X in 2021, growing by 2.1% against the previous year. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 -1.8% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Production in Asia-Pacific

In value terms, mounting lifting equipment production totaled $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.3% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Mounting Lifting Equipment Exports

Exports in Asia-Pacific

In 2021, exports of lifting equipment designed for mounting on road vehicles in Asia-Pacific soared to X units, picking up by 21% against the previous year. In general, exports, however, showed a noticeable slump. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, mounting lifting equipment exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea represented the largest exporter of lifting equipment designed for mounting on road vehicles in Asia-Pacific, with the volume of exports finishing at X units, which was near 42% of total exports in 2021. China (X units) held the second position in the ranking, followed by Japan (X units) and Thailand (X units). All these countries together held approx. 53% share of total exports. Australia (X units) held a minor share of total exports.

Exports from South Korea decreased at an average annual rate of -3.1% from 2012 to 2021. At the same time, China (+20.2%) and Thailand (+19.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +20.2% from 2012-2021. Australia experienced a relatively flat trend pattern. By contrast, Japan (-10.1%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) and Thailand (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-3.1 p.p.) and Japan (-21.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest mounting lifting equipment supplier in Asia-Pacific, comprising 46% of total exports. The second position in the ranking was held by Japan ($X), with a 22% share of total exports. It was followed by China, with a 20% 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-Pacific stood at $X per unit in 2021, with an increase of 7.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2014 an increase of 16% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 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 ($X per unit), while Australia ($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-Pacific

In 2021, the amount of lifting equipment designed for mounting on road vehicles imported in Asia-Pacific skyrocketed to X units, rising by 48% on 2020 figures. In general, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Australia was the largest importer of lifting equipment designed for mounting on road vehicles in Asia-Pacific, with the volume of imports reaching X units, which was near 36% of total imports in 2021. Thailand (X units) ranks second in terms of the total imports with a 12% share, followed by India (11%), New Zealand (6.2%), Singapore (5.2%) and Japan (4.7%). Taiwan (Chinese) (X units), China (X units), Hong Kong SAR (X units), Malaysia (X units), South Korea (X units) and the Philippines (X units) took a relatively small share of total imports.

Imports into Australia decreased at an average annual rate of -2.0% from 2012 to 2021. At the same time, the Philippines (+27.3%), India (+26.8%), Taiwan (Chinese) (+9.3%), New Zealand (+8.1%), Thailand (+7.4%) and China (+3.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +27.3% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.8%), Japan (-3.4%), Malaysia (-3.6%) and Singapore (-9.1%) illustrated a downward trend over the same period. While the share of India (+10 p.p.), Thailand (+5.5 p.p.), New Zealand (+3 p.p.) and Taiwan (Chinese) (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-2 p.p.), Singapore (-7.6 p.p.) and Australia (-9.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in Asia-Pacific, comprising 29% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports. It was followed by New Zealand, with a 10% share.

In Australia, mounting lifting equipment imports increased at an average annual rate of +1.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+1.9% per year) and New Zealand (+9.3% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, waning by -8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 12%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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