Hong Kong SAR, China: Market for Transporter Cranes, Gantry Cranes And Bridge Cranes 2024

Market Size for Transporter Cranes, Gantry Cranes And Bridge Cranes in Hong Kong SAR, China

In 2021, the Hong Kong transporter and bridge cranes market increased by 2.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Transporter Cranes, Gantry Cranes And Bridge Cranes in Hong Kong SAR, China

In value terms, transporter and bridge cranes production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 879%. Over the period under review, production hit record highs at $X in 2020, and then contracted dramatically in the following year.

Exports of Transporter Cranes, Gantry Cranes And Bridge Cranes

Exports from Hong Kong SAR, China

In 2021, the amount of transporter cranes, gantry cranes and bridge cranes exported from Hong Kong SAR surged to X units, jumping by 86% compared with the previous year. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 264%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, transporter and bridge cranes exports rose markedly to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 198% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for transporter and bridge cranes exports from Hong Kong SAR, accounting for a 57% share of total exports. Moreover, transporter and bridge cranes exports to China exceeded the volume sent to the second major destination, Singapore (X units), fourfold. The third position in this ranking was taken by Thailand (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-10.7% per year) and Thailand (+31.7% per year).

In value terms, China ($X) remains the key foreign market for transporter cranes, gantry cranes and bridge cranes exports from Hong Kong SAR, comprising 56% of total exports. The second position in the ranking was held by Singapore ($X), with an 18% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-13.1% per year) and Thailand (+32.4% per year).

Export Prices by Country

In 2021, the average transporter and bridge cranes export price amounted to $X per unit, with a decrease of -38.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 49%. As a result, the export price reached the peak level of $X per unit, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Belgium ($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 the Philippines (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Transporter Cranes, Gantry Cranes And Bridge Cranes

Imports into Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in supplies from abroad of transporter cranes, gantry cranes and bridge cranes, when their volume increased by 919% to X units. Overall, imports, however, showed a deep contraction. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, transporter and bridge cranes imports surged to $X in 2021. Over the period under review, imports, however, showed a perceptible curtailment. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of transporter and bridge cranes to Hong Kong SAR, with a 60% share of total imports. Moreover, transporter and bridge cranes imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. The third position in this ranking was held by Indonesia (X units), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.8% per year) and Indonesia (+77.0% per year).

In value terms, China ($X) constituted the largest supplier of transporter cranes, gantry cranes and bridge cranes to Hong Kong SAR, comprising 50% of total imports. The second position in the ranking was taken by Norway ($X), with a 19% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+40.8% per year) and Italy (+10.9% per year).

Import Prices by Country

The average transporter and bridge cranes import price stood at $X per unit in 2021, with an increase of 14% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+29.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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