Bangladesh: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Bangladesh

In 2022, the amount of buckets, shovels, grabs and grips for ships’ derricks and cranes exported from Bangladesh skyrocketed to X units, picking up by 71% on the previous year's figure. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 500% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ship derrick buckets and shovels exports surged to $X in 2022. Over the period under review, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2015 when exports increased by 232%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for ship derrick buckets and shovels exports from Bangladesh, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +48.8%.

In value terms, the largest markets for ship derrick buckets and shovels exported from Bangladesh were the United Arab Emirates ($X) and India ($X).

The United Arab Emirates, with a CAGR of +27.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, shrinking by -24.7% against the previous year. Overall, the export price faced a precipitous descent. The growth pace was the most rapid in 2014 an increase of 33%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+8.7%), while the prices for the other major destinations experienced a decline.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Bangladesh

In 2022, imports of buckets, shovels, grabs and grips for ships’ derricks and cranes into Bangladesh reduced remarkably to X units, waning by -24.6% compared with 2021. Overall, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 115%. Imports peaked at X units in 2021, and then dropped rapidly in the following year.

In value terms, ship derrick buckets and shovels imports contracted dramatically to $X in 2022. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 226% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

In 2022, India (X units) constituted the largest ship derrick buckets and shovels supplier to Bangladesh, accounting for a 42% share of total imports. Moreover, ship derrick buckets and shovels imports from India exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. South Korea (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.7% per year) and South Korea (+38.3% per year).

In value terms, South Korea ($X) constituted the largest supplier of buckets, shovels, grabs and grips for ships’ derricks and cranes to Bangladesh, comprising 51% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+55.2% per year) and India (+34.0% per year).

Import Prices by Country

In 2022, the average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, picking up by 8.9% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship derrick buckets and shovels import price increased by +16.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 74% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for the United Arab Emirates ($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 (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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