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

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in China

The Chinese market for buckets, shovels, grabs and grips for ships’ derricks and cranes reduced to $X in 2022, declining by -5.1% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.0% against 2020 indices. Ship derrick buckets and shovels consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in China

In value terms, ship derrick buckets and shovels production reached $X in 2022 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

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

Exports from China

Ship derrick buckets and shovels exports from China skyrocketed to X units in 2022, rising by 25% against the year before. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 62%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, ship derrick buckets and shovels exports soared to $X in 2022. In general, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 72% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for ship derrick buckets and shovels exports from China, accounting for a 32% share of total exports. Moreover, ship derrick buckets and shovels exports to the United States exceeded the volume sent to the second major destination, Australia (X units), threefold. The third position in this ranking was held by Germany (X units), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+10.1% per year) and Germany (+18.9% per year).

In value terms, the United States ($X), Australia ($X) and the UK ($X) were the largest markets for ship derrick buckets and shovels exported from China worldwide, together accounting for 54% of total exports.

Among the main countries of destination, the United States, with a CAGR of +17.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, which is down by -3.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 13% against the previous year. The export price peaked at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

For the fourth year in a row, China recorded decline in purchases abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes, which decreased by -13.5% to X units in 2022. In general, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 when imports increased by 30% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ship derrick buckets and shovels imports amounted to $X in 2022. Over the period under review, imports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X units), Turkey (X units) and the United States (X units) were the main suppliers of ship derrick buckets and shovels imports to China, with a combined 91% share of total imports. South Korea, Indonesia, Japan and Germany lagged somewhat behind, together comprising a further 6.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +764.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of buckets, shovels, grabs and grips for ships’ derricks and cranes to China, comprising 48% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Turkey, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +157.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+19.4% per year) and Turkey (-0.6% per year).

Import Prices by Country

The average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, with an increase of 21% against the previous year. Over the period under review, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2017 an increase of 34%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood 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 Germany ($X per unit), while the price for Turkey ($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 (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :