Ghana: Crane Market 2025

Crane Market Size in Ghana

The Ghanian crane market fell rapidly to $X in 2022, which is down by -33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Crane Exports

Exports from Ghana

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were exported from Ghana; picking up by 6.9% against 2021 figures. In general, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,629%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crane exports contracted to $X in 2022. Overall, exports posted a strong increase. The growth pace was the most rapid in 2019 with an increase of 1,581%. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Benin (X units), the Netherlands (X units) and Belgium (X units) were the main destinations of crane exports from Ghana, together comprising 77% of total exports. Cote d'Ivoire, Nigeria, the United States, South Africa, Togo and Burkina Faso lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +68.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crane exported from Ghana were Benin ($X), Belgium ($X) and Cote d'Ivoire ($X), with a combined 78% share of total exports. South Africa, the Netherlands, the United States, Burkina Faso, Nigeria and Togo lagged somewhat behind, together accounting for a further 17%.

Among the main countries of destination, South Africa, with a CAGR of +85.3%, saw the highest growth rate of 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

The average crane export price stood at $X per unit in 2022, declining by -13.4% against the previous year. Overall, the export price, however, recorded a mild increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 58% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to the Netherlands ($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 Burkina Faso (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Ghana

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Ghana; which is down by -26.7% against the year before. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when imports increased by 100% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, crane imports declined significantly to $X in 2022. In general, imports showed a pronounced decrease. The growth pace was the most rapid in 2021 when imports increased by 153% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), China (X units) and Jordan (X units) were the main suppliers of crane imports to Ghana, with a combined 47% share of total imports. Belgium, the United Arab Emirates, India, Benin, Italy, Spain, Brazil, Austria, the Netherlands and Togo lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Togo (with a CAGR of +32.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Ghana, comprising 41% of total imports. The second position in the ranking was taken by Jordan ($X), with an 8.9% share of total imports. It was followed by India, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+20.1% per year) and India (+16.7% per year).

Import Prices by Country

The average crane import price stood at $X per unit in 2022, declining by -4.9% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crane import price increased by +59.1% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of 26%. As a result, import price reached the peak level of $X per unit, and then declined slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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