Eastern Asia: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Eastern Asia

The East Asian overhead travelling crane market shrank to $X in 2022, waning by -11.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Overhead Travelling Crane Production in Eastern Asia

In value terms, overhead travelling crane production declined modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Overhead Travelling Crane Exports

Exports in Eastern Asia

Overhead travelling crane exports surged to X units in 2022, rising by 75% on the previous year's figure. In general, exports posted a buoyant expansion. 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 skyrocketed to $X in 2022. Overall, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, amounting to X units, which was near 97% of total exports in 2022. South Korea (X units) took a minor share of total exports.

China was also the fastest-growing in terms of the overhead travelling cranes on fixed support exports, with a CAGR of +7.9% from 2012 to 2022. South Korea (-6.7%) illustrated a downward trend over the same period. China (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -5.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest overhead travelling crane supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was held by South Korea ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at -1.8%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, reducing by -23.3% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the export price increased by 17% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%).

Overhead Travelling Crane Imports

Imports in Eastern Asia

In 2022, approx. X units of overhead travelling cranes on fixed support were imported in Eastern Asia; dropping by -23.7% compared with the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 63% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, overhead travelling crane imports shrank remarkably to $X in 2022. In general, imports showed a slight decline. The most prominent rate of growth was recorded in 2021 when imports increased by 99%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) represented the main importing country with an import of about X units, which recorded 54% of total imports. It was distantly followed by China (X units), South Korea (X units) and Japan (X units), together mixing up a 39% share of total imports. Hong Kong SAR (X units), Democratic People's Republic of Korea (X units) and Macao SAR (X units) followed a long way behind the leaders.

Taiwan (Chinese) was also the fastest-growing in terms of the overhead travelling cranes on fixed support imports, with a CAGR of +28.4% from 2012 to 2022. At the same time, Hong Kong SAR (+23.1%) and South Korea (+2.2%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Macao SAR (-7.0%), Democratic People's Republic of Korea (-8.3%) and China (-9.4%) illustrated a downward trend over the same period. Taiwan (Chinese) (+50 p.p.) and Hong Kong SAR (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Macao SAR, Democratic People's Republic of Korea and China saw its share reduced by -2%, -3.4% and -46.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 89% of total imports. Hong Kong SAR, Japan, Democratic People's Republic of Korea and Macao SAR lagged somewhat behind, together comprising a further 11%.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +33.3%, 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

In 2022, the import price in Eastern Asia amounted to $X per unit, growing by 6.9% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when the import price increased by 57% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Macao SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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