Japan: Lifting Equipment Market 2024

Lifting Equipment Market Size in Japan

The Japanese lifting equipment market reached $X in 2021, growing by 6.7% against the previous year. Overall, consumption, however, recorded a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lifting Equipment Production in Japan

In value terms, lifting equipment production rose to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27%. Lifting equipment production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lifting Equipment Exports

Exports from Japan

In 2021, the amount of lifting equipment exported from Japan surged to X units, increasing by 24% on 2020 figures. Over the period under review, exports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2018 when exports increased by 69% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, lifting equipment exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2018 when exports increased by 37%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for lifting equipment exports from Japan, with a 66% share of total exports. Moreover, lifting equipment exports to China exceeded the volume sent to the second major destination, the Philippines (X units), fourfold. Vietnam (X units) ranked third in terms of total exports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-14.6% per year) and Vietnam (+39.9% per year).

In value terms, China ($X) remains the key foreign market for lifting equipment exports from Japan, comprising 47% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 13% share of total exports. It was followed by Vietnam, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-17.7% per year) and Vietnam (+32.8% per year).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, approximately equating the previous year. Over the period under review, the export price saw a mild shrinkage. The growth pace was the most rapid in 2019 an increase of 15% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Myanmar ($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 United States (-1.2%), while the prices for the other major destinations experienced a decline.

Lifting Equipment Imports

Imports into Japan

In 2021, lifting equipment imports into Japan soared to X units, increasing by 82% on the year before. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 115%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, lifting equipment imports skyrocketed to $X in 2021. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 153%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest lifting equipment supplier to Japan, accounting for a 55% share of total imports. Moreover, lifting equipment imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), twofold. Slovenia (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+166.8% per year) and Slovenia (+36.4% per year).

In value terms, China ($X) constituted the largest supplier of lifting equipment to Japan, comprising 81% of total imports. The second position in the ranking was taken by Slovenia ($X), with a 4.1% share of total imports. It was followed by Singapore, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+11.5% per year) and Singapore (+100.9% per year).

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, picking up by 9.9% against the previous year. In general, the import price enjoyed temperate growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 85% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

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 China ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :