Myanmar: 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 Myanmar

The Myanmar's market for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X in 2022, picking up by 13% against the previous year. In general, consumption posted a buoyant increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

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

In value terms, ship derrick buckets and shovels production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 99% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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

Exports from Myanmar

In 2022, overseas shipments of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 31% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2017 when exports increased by 4,767%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, ship derrick buckets and shovels exports fell dramatically to $X in 2022. Overall, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 4,365% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X units) and Malaysia (X units) were the main destinations of ship derrick buckets and shovels exports from Myanmar.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of 0.0%).

In value terms, Thailand ($X) emerged as the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Myanmar, comprising 80% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand amounted to +9.1%.

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, declining by -74.6% against the previous year. In general, the export price recorded a noticeable reduction. The growth pace was the most rapid in 2016 when the average export price increased by 92%. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Malaysia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+124.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Myanmar

In 2022, overseas purchases of buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -14.4% to X units, falling for the fourth year in a row after seven years of growth. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 446% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ship derrick buckets and shovels imports soared to $X in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 263% against the previous year. 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

China (X units), the United States (X units) and Japan (X units) were the main suppliers of ship derrick buckets and shovels imports to Myanmar, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +83.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of buckets, shovels, grabs and grips for ships’ derricks and cranes to Myanmar, comprising 75% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by South Korea, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +94.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+46.1% per year) and South Korea (+8.0% per year).

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, rising by 182% against the previous year. Over the period under review, the import price saw a noticeable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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