Denmark: Lifting Equipment Market 2024

Lifting Equipment Market Size in Denmark

In 2021, the Danish lifting equipment market increased by 87% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, recorded a deep reduction. Lifting equipment consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Lifting Equipment Production in Denmark

In value terms, lifting equipment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 361% against the previous year. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in the near future.

Lifting Equipment Exports

Exports from Denmark

In 2021, after four years of growth, there was significant decline in shipments abroad of lifting equipment, when their volume decreased by -70.8% to X units. Over the period under review, exports, however, recorded a noticeable increase. The most prominent rate of growth was recorded in 2018 with an increase of 192% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then shrank remarkably in the following year.

In value terms, lifting equipment exports shrank rapidly to $X in 2021. Overall, exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 when exports increased by 287% against the previous year. The exports peaked at $X in 2020, and then shrank notably in the following year.

Exports by Country

Faroe Islands (X units) was the main destination for lifting equipment exports from Denmark, accounting for a 45% share of total exports. Moreover, lifting equipment exports to Faroe Islands exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), fourfold. France (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Faroe Islands totaled +59.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+54.1% per year) and France (+30.5% per year).

In value terms, France ($X) emerged as the key foreign market for lifting equipment exports from Denmark, comprising 56% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total exports. It was followed by Mexico, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+101.0% per year) and Mexico (+49.1% per year).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, increasing by 12% against the previous year. Overall, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+249.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Denmark

In 2021, overseas purchases of lifting equipment decreased by -11.5% to X units, falling for the fourth year in a row after two years of growth. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when imports increased by 640% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lifting equipment imports fell dramatically to $X in 2021. Over the period under review, imports showed a abrupt decrease. The growth pace was the most rapid in 2014 when imports increased by 81%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Finland (X units), China (X units) and Poland (X units) were the main suppliers of lifting equipment imports to Denmark, together accounting for 71% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +27.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) constituted the largest supplier of lifting equipment to Denmark, comprising 39% of total imports. The second position in the ranking was taken by Estonia ($X), with a 15% share of total imports. It was followed by Sweden, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from Finland totaled +44.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+135.6% per year) and Sweden (-13.2% per year).

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, reducing by -30.5% against the previous year. Overall, the import price, however, saw a noticeable increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 151%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+59.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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