Central Asia: Lifting Equipment Market 2024

Lifting Equipment Market Size in Central Asia

After three years of growth, the Central Asian lifting equipment market decreased by -1% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Lifting Equipment Production in Central Asia

In value terms, lifting equipment production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 36% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Lifting Equipment Exports

Exports in Central Asia

In 2021, shipments abroad of lifting equipment increased by 204% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted modest growth. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, lifting equipment exports fell markedly to $X in 2021. Overall, exports, however, showed a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 8,544%. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

Kazakhstan prevails in exports structure, amounting to X units, which was near 92% of total exports in 2021. It was distantly followed by Kyrgyzstan (X units), mixing up a 7.9% share of total exports.

Kazakhstan was also the fastest-growing in terms of the lifting equipment exports, with a CAGR of +10.7% from 2012 to 2021. Kyrgyzstan (-18.1%) illustrated a downward trend over the same period. While the share of Kazakhstan (+48 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kyrgyzstan (-48.4 p.p.) displayed negative dynamics.

In value terms, Kyrgyzstan ($X) remains the largest lifting equipment supplier in Central Asia, comprising 78% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 22% share of total exports.

In Kyrgyzstan, lifting equipment exports shrank by an average annual rate of -12.8% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per unit in 2021, waning by -99.2% against the previous year. In general, the export price faced a sharp descent. The pace of growth was the most pronounced in 2020 an increase of 4,049% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined dramatically in the following year.

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 Kyrgyzstan ($X per unit), while Kazakhstan stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+6.1%).

Lifting Equipment Imports

Imports in Central Asia

In 2021, the amount of lifting equipment imported in Central Asia shrank remarkably to X units, reducing by -17.4% on 2020 figures. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 159%. The volume of import peaked at X units in 2020, and then shrank sharply in the following year.

In value terms, lifting equipment imports expanded slightly to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 181% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Uzbekistan represented the main importing country with an import of about X units, which resulted at 58% of total imports. Kazakhstan (X units) held the second position in the ranking, followed by Kyrgyzstan (X units). All these countries together took approx. 41% share of total imports.

Uzbekistan was also the fastest-growing in terms of the lifting equipment imports, with a CAGR of +29.8% from 2012 to 2021. At the same time, Kyrgyzstan (+19.2%) displayed positive paces of growth. By contrast, Kazakhstan (-13.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan and Kyrgyzstan increased by +58 and +14 percentage points, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported lifting equipment in Central Asia, comprising 68% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan totaled -2.7%. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+82.6% per year) and Kyrgyzstan (+13.0% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per unit, increasing by 26% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 85% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+40.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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