Lithuania: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Lithuania

The Lithuanian overhead travelling crane market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption recorded a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Overhead Travelling Crane Production in Lithuania

In value terms, overhead travelling crane production reduced to $X in 2022 estimated in export price. In general, production saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 157%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Overhead Travelling Crane Exports

Exports from Lithuania

Overhead travelling crane exports from Lithuania surged to X units in 2022, growing by 45% compared with 2021 figures. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 151%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, overhead travelling crane exports stood at $X in 2022. Over the period under review, exports, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 134%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X units) was the main destination for overhead travelling crane exports from Lithuania, accounting for a 59% share of total exports. Moreover, overhead travelling crane exports to Denmark exceeded the volume sent to the second major destination, Latvia (X units), fourfold. Kazakhstan (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark amounted to +88.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+28.9% per year) and Kazakhstan (+54.8% per year).

In value terms, the largest markets for overhead travelling crane exported from Lithuania were Denmark ($X), Latvia ($X) and Estonia ($X), with a combined 58% share of total exports.

Denmark, with a CAGR of +84.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average overhead travelling crane export price amounted to $X per unit, declining by -29.2% against the previous year. Overall, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2019 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to Finland ($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 Denmark (+0.2%), while the prices for the other major destinations experienced a decline.

Overhead Travelling Crane Imports

Imports into Lithuania

In 2022, purchases abroad of overhead travelling cranes on fixed support decreased by -24% to X units, falling for the third year in a row after two years of growth. In general, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 3,606% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, overhead travelling crane imports totaled $X in 2022. Overall, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2015 when imports increased by 2,394%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X units), Finland (X units) and Italy (X units) were the main suppliers of overhead travelling crane imports to Lithuania, with a combined 86% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +41.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) constituted the largest supplier of overhead travelling cranes on fixed support to Lithuania, comprising 55% of total imports. The second position in the ranking was taken by Italy ($X), with a 20% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-11.2% per year) and Spain (+32.6% per year).

Import Prices by Country

In 2022, the average overhead travelling crane import price amounted to $X per unit, picking up by 32% against the previous year. In general, the import price, however, showed a abrupt descent. The growth pace was the most rapid in 2020 when the average import price increased by 60%. 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+13.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform