Malaysia: Market for Lifts, Elevators, Moving Stairways and Draglines 2025

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Malaysia

The Malaysian market for lifts, elevators, moving stairways and draglines stood at $X in 2022, picking up by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a temperate expansion. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Malaysia

In 2022, the amount of lifts, elevators, moving stairways and draglines exported from Malaysia declined significantly to X units, dropping by -69.6% compared with the previous year. In general, exports saw a sharp curtailment. The growth pace was the most rapid in 2015 with an increase of 131% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lift, elevator, stairway and dragline exports dropped dramatically to $X in 2022. Over the period under review, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2015 with an increase of 66%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Vietnam (X units) and Poland (X units) were the main destinations of lift, elevator, stairway and dragline exports from Malaysia, together comprising 34% of total exports. The Philippines, Singapore, Thailand, India, Indonesia, Taiwan (Chinese), Australia, Hong Kong SAR, Mexico and Belgium lagged somewhat behind, together accounting for a further 57%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +24.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lift, elevator, stairway and dragline exported from Malaysia were India ($X), Poland ($X) and China ($X), together comprising 63% of total exports. Indonesia, the Philippines, Singapore, Thailand, Vietnam, Mexico, Taiwan (Chinese), Australia, Hong Kong SAR and Belgium lagged somewhat behind, together accounting for a further 29%.

Taiwan (Chinese), with a CAGR of +38.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for lifts, elevators, moving stairways and draglines amounted to $X per unit, shrinking by -11% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lift, elevator, stairway and dragline export price decreased by -39.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 72% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Hong Kong SAR ($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 Taiwan (Chinese) (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Malaysia

In 2022, overseas purchases of lifts, elevators, moving stairways and draglines were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a perceptible expansion. The pace of growth appeared the most rapid in 2014 with an increase of 68% against the previous year. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, lift, elevator, stairway and dragline imports shrank sharply to $X in 2022. Overall, imports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 38%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lift, elevator, stairway and dragline to Malaysia, with a 73% share of total imports. Moreover, lift, elevator, stairway and dragline imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was taken by Thailand (X units), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and Thailand (+14.5% per year).

In value terms, China ($X) constituted the largest supplier of lifts, elevators, moving stairways and draglines to Malaysia, comprising 71% of total imports. The second position in the ranking was held by Thailand ($X), with a 13% share of total imports. It was followed by South Korea, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.7% per year) and South Korea (-5.1% per year).

Import Prices by Country

The average import price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, with a decrease of -44% against the previous year. Over the period under review, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then reduced dramatically in the following year.

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 Thailand ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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