Japan: Crane Market 2024

Crane Market Size in Japan

In 2022, the Japanese crane market decreased by -22.4% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption showed a perceptible decrease. Crane consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Crane Production in Japan

In value terms, crane production stood at $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Crane production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crane Exports

Exports from Japan

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exported from Japan rose rapidly to X units, surging by 8.9% against 2021 figures. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 29%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, crane exports shrank slightly to $X in 2022. In general, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Vietnam (X units) and the United Arab Emirates (X units) were the main destinations of crane exports from Japan, together comprising 40% of total exports. South Korea, Malaysia, Taiwan (Chinese), Thailand, the Philippines, Indonesia, Australia, Singapore, Bangladesh and Saudi Arabia lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +38.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports from Japan, comprising 32% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.5% share of total exports. It was followed by Vietnam, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+2.2% per year) and Vietnam (+24.9% per year).

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, with a decrease of -9.4% against the previous year. Over the period under review, the export price continues to indicate a pronounced reduction. The growth pace was the most rapid in 2019 an increase of 5%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Bangladesh ($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 the United States (+1.7%), while the prices for the other major destinations experienced a decline.

Crane Imports

Imports into Japan

In 2022, purchases abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by -35.6% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports, however, showed pronounced growth. The pace of growth appeared the most rapid in 2014 when imports increased by 132% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports dropped sharply to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 114%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), China (X units) and Poland (X units) were the main suppliers of crane imports to Japan, together comprising 89% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +43.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Japan, comprising 46% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.3% per year) and Poland (+40.2% per year).

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, surging by 8.7% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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