India: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in India

The Indian overhead travelling crane market contracted markedly to $X in 2022, waning by -26.2% against the previous year. In general, consumption, however, saw a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Overhead Travelling Crane Production in India

In value terms, overhead travelling crane production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 87% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Overhead Travelling Crane Exports

Exports from India

In 2022, overhead travelling crane exports from India surged to X units, jumping by 70% compared with the previous year. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 101%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, overhead travelling crane exports surged to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +125.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 59% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Bangladesh (X units), Nepal (X units) and the United Arab Emirates (X units) were the main destinations of overhead travelling crane exports from India, together comprising 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nepal (with a CAGR of +69.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for overhead travelling crane exported from India were Bangladesh ($X), the United Arab Emirates ($X) and Nepal ($X), with a combined 43% share of total exports.

In terms of the main countries of destination, Nepal, with a CAGR of +53.4%, recorded the highest rates of growth with regard to 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 overhead travelling crane export price stood at $X per unit in 2022, shrinking by -12.9% against the previous year. In general, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 20% 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 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to Somalia ($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 Ghana (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Overhead Travelling Crane Imports

Imports into India

After three years of growth, overseas purchases of overhead travelling cranes on fixed support decreased by -32.3% to X units in 2022. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by 126%. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, overhead travelling crane imports skyrocketed to $X in 2022. Overall, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2019 when imports increased by 108%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X units), the UK (X units) and Finland (X units) were the main suppliers of overhead travelling crane imports to India, together comprising 78% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +65.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of overhead travelling cranes on fixed support to India, comprising 75% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by Finland, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+52.3% per year) and Finland (+33.3% per year).

Import Prices by Country

In 2022, the average overhead travelling crane import price amounted to $X per unit, rising by 194% against the previous year. Overall, the import price recorded a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :