China: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in China

The Chinese overhead travelling crane market contracted sharply to $X in 2022, falling by -16% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Overhead travelling crane consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Overhead Travelling Crane Production in China

In value terms, overhead travelling crane production declined modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 27%. Overhead travelling crane production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Overhead Travelling Crane Exports

Exports from China

In 2022, the amount of overhead travelling cranes on fixed support exported from China surged to X units, jumping by 76% on the previous year. Overall, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, overhead travelling crane exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a slight slump. The pace of growth was the most pronounced in 2018 when exports increased by 41%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units), Indonesia (X units) and Vietnam (X units) were the main destinations of overhead travelling crane exports from China, together comprising 29% of total exports. Bangladesh, the Philippines, Thailand, Uzbekistan, Australia, Bolivia, South Africa, Malaysia, Nigeria and Oman lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +38.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for overhead travelling cranes on fixed support exports from China, comprising 34% of total exports. The second position in the ranking was held by India ($X), with a 9.8% share of total exports. It was followed by Vietnam, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+0.8% per year) and Vietnam (+1.1% per year).

Export Prices by Country

The average overhead travelling crane export price stood at $X per unit in 2022, waning by -23.7% against the previous year. In general, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 25%. The export price peaked at $X per unit in 2014; however, from 2015 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 Indonesia ($X per unit), while the average price for exports to Oman ($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 Indonesia (+1.2%), while the prices for the other major destinations experienced a decline.

Overhead Travelling Crane Imports

Imports into China

In 2022, supplies from abroad of overhead travelling cranes on fixed support decreased by -33% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 114% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, overhead travelling crane imports dropped remarkably to $X in 2022. Overall, imports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 111%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of overhead travelling crane to China, accounting for a 57% share of total imports. Moreover, overhead travelling crane imports from Germany exceeded the figures recorded by the second-largest supplier, Luxembourg (X units), more than tenfold. The third position in this ranking was taken by Japan (X units), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Luxembourg (+14.9% per year) and Japan (-18.6% per year).

In value terms, the largest overhead travelling crane suppliers to China were Germany ($X), Luxembourg ($X) and South Korea ($X), together comprising 65% of total imports.

Among the main suppliers, Luxembourg, with a CAGR of +21.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average overhead travelling crane import price stood at $X per unit in 2022, jumping by 22% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 195%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Luxembourg ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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