Indonesia: Lifting Equipment Market 2024

Lifting Equipment Market Size in Indonesia

In 2021, the Indonesian lifting equipment market decreased by -4.4% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Lifting Equipment Production in Indonesia

In value terms, lifting equipment production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 57% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Lifting Equipment Exports

Exports from Indonesia

In 2021, lifting equipment exports from Indonesia surged to X units, rising by 119% compared with the previous year. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,510%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, lifting equipment exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 3,474%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Timor-Leste (X units), the United Arab Emirates (X units) and Venezuela (X units) were the main destinations of lifting equipment exports from Indonesia, together accounting for 84% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Timor-Leste (with a CAGR of +61.5%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) emerged as the key foreign market for lifting equipment exports from Indonesia, comprising 52% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Australia, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela amounted to +63.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+166.9% per year) and Australia (+62.8% per year).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, rising by 165% against the previous year. Overall, the export price posted a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Thailand ($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 Venezuela (+148.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Indonesia

In 2021, overseas purchases of lifting equipment decreased by -44.7% to X units, falling for the third consecutive year after four years of growth. In general, imports showed a slight slump. The pace of growth was the most pronounced in 2013 when imports increased by 71% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports contracted markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 42% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest lifting equipment supplier to Indonesia, accounting for a 37% share of total imports. Moreover, lifting equipment imports from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. Japan (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+114.8% per year) and Japan (+19.4% per year).

In value terms, Japan ($X), China ($X) and India ($X) were the largest lifting equipment suppliers to Indonesia, with a combined 68% share of total imports.

Among the main suppliers, India, with a CAGR of +77.8%, 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

The average lifting equipment import price stood at $X per unit in 2021, jumping by 46% against the previous year. In general, the import price, however, showed a deep setback. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 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 ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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