Asia-Pacific: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Asia-Pacific

The Asia-Pacific overhead travelling crane market contracted to $X in 2022, dropping by -7.8% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Overhead Travelling Crane Production in Asia-Pacific

In value terms, overhead travelling crane production reduced to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 16%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Overhead Travelling Crane Exports

Exports in Asia-Pacific

Overhead travelling crane exports soared to X units in 2022, picking up by 71% on 2021. Over the period under review, exports recorded buoyant growth. 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 surged to $X in 2022. In general, exports, however, recorded a mild contraction. The growth pace was the most rapid in 2018 with an increase of 40%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of about X units, which accounted for 71% of total exports. It was distantly followed by India (X units), comprising a 23% share of total exports. Malaysia (X units) followed a long way behind the leaders.

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%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.2% from 2012-2022. Malaysia experienced a relatively flat trend pattern. India (+13 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and China saw its share reduced by -2.2% and -2.7% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest overhead travelling crane supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports.

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 Malaysia (-1.3% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, waning by -20.6% against the previous year. Overall, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2017 an increase of 14%. Over the period under review, the export prices attained the peak figure 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-Pacific

In 2022, the amount of overhead travelling cranes on fixed support imported in Asia-Pacific declined to X units, waning by -9.8% compared with the year before. In general, imports showed a pronounced setback. The pace of growth appeared the most rapid in 2018 when imports increased by 55%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, overhead travelling crane imports rose markedly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 53% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of overhead travelling cranes on fixed support, namely Indonesia, the Philippines, India, Taiwan (Chinese), Sri Lanka, Vietnam, Thailand, Pakistan, Singapore, Bangladesh, Malaysia and China, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +49.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest overhead travelling crane importing markets in Asia-Pacific were Indonesia ($X), India ($X) and Vietnam ($X), with a combined 47% share of total imports. China, Bangladesh, Taiwan (Chinese), Sri Lanka, Malaysia, Pakistan, Thailand, Singapore and the Philippines lagged somewhat behind, together accounting for a further 40%.

Sri Lanka, with a CAGR of +27.4%, 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, picking up by 25% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2013 when the import price increased by 27%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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