China: Lift And Hoist Market 2024

Lift And Hoist Market Size in China

The Chinese lift and hoist market reduced modestly to $X in 2022, dropping by -3.8% against the previous year. Overall, consumption recorded a noticeable descent. Lift and hoist consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Production in China

In value terms, lift and hoist production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a mild downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16%. Lift and hoist production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Lift And Hoist Exports

Exports from China

Lift and hoist exports from China rose to X units in 2022, increasing by 4.9% on the year before. In general, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +114.1% against 2012 indices. The pace of growth was the most pronounced in 2017 when exports increased by 25% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, lift and hoist exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 17% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia (X units), Russia (X units) and Australia (X units) were the main destinations of lift and hoist exports from China, together comprising 16% of total exports. Kazakhstan, the United Arab Emirates, Vietnam, Thailand, Indonesia, Saudi Arabia, the Philippines, the United States, Bangladesh and India lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kazakhstan (with a CAGR of +21.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lift and hoist exported from China were Australia ($X), Russia ($X) and India ($X), together accounting for 18% of total exports. Malaysia, Vietnam, Kazakhstan, the United Arab Emirates, Indonesia, Saudi Arabia, Thailand, the Philippines, Bangladesh and the United States lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, the United States, with a CAGR of +19.1%, saw the highest rates of growth with regard to 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

In 2022, the average lift and hoist export price amounted to $X per unit, with an increase of 2.4% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, 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 India ($X per unit), while the average price for exports to the United States ($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 United States (+8.1%), while the prices for the other major destinations experienced mixed trend patterns.

Lift And Hoist Imports

Imports into China

Lift and hoist imports into China fell dramatically to X units in 2022, dropping by -25.1% compared with the year before. In general, imports saw a mild decline. The pace of growth appeared the most rapid in 2014 when imports increased by 28% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, lift and hoist imports contracted notably to $X in 2022. Over the period under review, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by 23% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Sweden (X units), Japan (X units) and Spain (X units) were the main suppliers of lift and hoist imports to China, together comprising 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +29.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), Sweden ($X) and South Korea ($X) appeared to be the largest lift and hoist suppliers to China, with a combined 80% share of total imports. Germany, Spain and the UK lagged somewhat behind, together comprising a further 11%.

Spain, with a CAGR of +17.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average lift and hoist import price amounted to $X per unit, increasing by 8.7% against the previous year. In general, the import price, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for the UK ($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 (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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