Asia-Pacific: Lift And Hoist Market 2024

Lift And Hoist Market Size in Asia-Pacific

The Asia-Pacific lift and hoist market fell to $X in 2022, waning by -4.5% against the previous year. Over the period under review, consumption saw a perceptible slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Production in Asia-Pacific

In value terms, lift and hoist production declined slightly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 9.4% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Lift And Hoist Exports

Exports in Asia-Pacific

In 2022, exports of lifts and hoists in Asia-Pacific expanded sharply to X units, with an increase of 13% compared with the previous year. Over the period under review, exports showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 53%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, lift and hoist exports totaled $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of 12%. Over the period under review, the exports reached the peak figure at $X in 2018; afterwards, it flattened through to 2022.

Exports by Country

China (X units) and India (X units) dominates exports structure, together creating 86% of total exports. It was distantly followed by Thailand (X units), mixing up a 4.8% share of total exports. South Korea (X units), Japan (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +43.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest lift and hoist supplier in Asia-Pacific, comprising 77% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.4% share of total exports. It was followed by South Korea, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +5.0%. In the other countries, the average annual rates were as follows: Thailand (-5.8% per year) and South Korea (-4.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, which is down by -4.3% against the previous year. Overall, the export price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-2.0%), while the other leaders experienced a decline in the export price figures.

Lift And Hoist Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of lifts and hoists increased by 10% to X units, rising for the second year in a row after two years of decline. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +13.4% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 33%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, lift and hoist imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 15%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X units), the Philippines (X units), Singapore (X units), Thailand (X units), India (X units), Vietnam (X units), Malaysia (X units), Bangladesh (X units) and Indonesia (X units) represented the key importer of lifts and hoists in Asia-Pacific, creating 84% of total import.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +18.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 36% share of total imports. India, Indonesia, Bangladesh, Singapore, the Philippines and Thailand lagged somewhat behind, together comprising a further 40%.

Bangladesh, with a CAGR of +9.7%, saw the highest rates of growth with regard to the value of imports, in terms of 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, declining by -2.6% against the previous year. Over the period under review, the import price showed a pronounced curtailment. The pace of growth was the most pronounced in 2020 an increase of 14%. The level of import peaked at $X per unit in 2014; however, from 2015 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 Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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