Malaysia: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Malaysia

The Malaysian market for buckets, shovels, grabs and grips for ships’ derricks and cranes fell modestly to $X in 2022, which is down by -4.3% against the previous year. Overall, consumption, however, enjoyed a tangible increase. Ship derrick buckets and shovels consumption peaked at $X in 2021, and then shrank in the following year.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Malaysia

In value terms, ship derrick buckets and shovels production declined to $X in 2022 estimated in export price. Overall, production, however, showed a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 72%. Ship derrick buckets and shovels production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Malaysia

In 2022, the amount of buckets, shovels, grabs and grips for ships’ derricks and cranes exported from Malaysia dropped slightly to X units, which is down by -4.1% against the previous year's figure. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 126% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ship derrick buckets and shovels exports reduced to $X in 2022. Over the period under review, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 198% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X units) was the main destination for ship derrick buckets and shovels exports from Malaysia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +116.1%.

In value terms, Myanmar ($X) emerged as the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Malaysia.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar stood at +119.4%.

Export Prices by Country

The average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, standing approx. at the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship derrick buckets and shovels export price increased by +92.2% against 2014 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 32% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +10.3% per year.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Malaysia

In 2022, supplies from abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. In general, imports recorded notable growth. The growth pace was the most rapid in 2017 when imports increased by 341%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, ship derrick buckets and shovels imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2017 when imports increased by 234%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ship derrick buckets and shovels to Malaysia, accounting for a 50% share of total imports. Moreover, ship derrick buckets and shovels imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. Spain (X units) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+47.6% per year) and Spain (+11.2% per year).

In value terms, the largest ship derrick buckets and shovels suppliers to Malaysia were China ($X), the Netherlands ($X) and Spain ($X), with a combined 66% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +38.3%, recorded 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 import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, waning by -16% against the previous year. Overall, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 47% 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 stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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