Belgium: Lifting Equipment Market 2024

Lifting Equipment Market Size in Belgium

In 2021, the Belgian lifting equipment market increased by 171% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lifting Equipment Production in Belgium

In value terms, lifting equipment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The growth pace was the most rapid in 2013 when the production volume increased by 98% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Lifting Equipment Exports

Exports from Belgium

In 2021, approx. X units of lifting equipment were exported from Belgium; increasing by 400% on the previous year's figure. Over the period under review, exports saw perceptible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lifting equipment exports surged to $X in 2021. In general, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) was the main destination for lifting equipment exports from Belgium, with a 44% share of total exports. Moreover, lifting equipment exports to China exceeded the volume sent to the second major destination, South Korea (X units), threefold. Germany (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+94.2% per year) and Germany (+31.4% per year).

In value terms, France ($X), the Netherlands ($X) and Germany ($X) constituted the largest markets for lifting equipment exported from Belgium worldwide, with a combined 62% share of total exports. These countries were followed by South Korea, China, Greece, Sweden, Iraq, Ghana and Togo, which together accounted for a further 24%.

Greece, with a CAGR of +135.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, reducing by -30.8% against the previous year. Overall, the export price, however, continues to indicate a pronounced increase. The growth pace was the most rapid in 2017 when the average export price increased by 176% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Gambia (+86.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Belgium

In 2021, the amount of lifting equipment imported into Belgium surged to X units, with an increase of 499% against the previous year's figure. In general, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lifting equipment imports soared to $X in 2021. Overall, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Kazakhstan (X units) constituted the largest lifting equipment supplier to Belgium, with a 71% share of total imports. Moreover, lifting equipment imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Ireland (X units), with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from Kazakhstan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+33.3% per year) and Ireland (0.0% per year).

In value terms, the largest lifting equipment suppliers to Belgium were Kazakhstan ($X), Germany ($X) and the Netherlands ($X), together accounting for 85% of total imports. Ireland, Japan and the UK lagged somewhat behind, together comprising a further 6.8%.

In terms of the main suppliers, Japan, with a CAGR of +114.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2021, waning by -20.9% against the previous year. In general, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 34%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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