Denmark: Crane Market 2024

Crane Market Size in Denmark

In 2022, after two years of growth, there was significant decline in the Danish crane market, when its value decreased by -21.3% to $X. Overall, consumption, however, enjoyed a significant expansion. Crane consumption peaked at $X in 2021, and then declined markedly in the following year.

Crane Production in Denmark

In value terms, crane production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% 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 2021 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Crane Exports

Exports from Denmark

In 2022, exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane from Denmark skyrocketed to X units, jumping by 16% against 2021. Overall, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +33.4% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 37% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, crane exports soared to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +89.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 45% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X units), Germany (X units) and the Netherlands (X units) were the main destinations of crane exports from Denmark, with a combined 34% share of total exports. Norway, South Africa, Australia, the UK, France, India, Austria, Taiwan (Chinese), Sweden and Ukraine lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +98.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crane exported from Denmark were the United States ($X), Germany ($X) and the Netherlands ($X), with a combined 44% share of total exports. Norway, Australia, France, Austria, Sweden, the UK, India, Taiwan (Chinese), South Africa and Ukraine lagged somewhat behind, together comprising a further 36%.

Austria, with a CAGR of +100.9%, saw the highest rates of growth with regard to 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

In 2022, the average crane export price amounted to $X per unit, picking up by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 14%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ukraine ($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 Taiwan (Chinese) (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Denmark

In 2022, overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 15% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crane imports surged to $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X units) constituted the largest crane supplier to Denmark, with a 42% share of total imports. Moreover, crane imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X units), threefold. Austria (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-0.5% per year) and Austria (+7.7% per year).

In value terms, the largest crane suppliers to Denmark were Germany ($X), Sweden ($X) and Austria ($X), together accounting for 69% of total imports. Italy, Norway, Spain, Finland and the UK lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, Spain, with a CAGR of +15.0%, saw 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 crane import price stood at $X per unit in 2022, stabilizing at the previous year. Overall, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the UK ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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