Pakistan: 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 Pakistan

The Pakistani market for buckets, shovels, grabs and grips for ships’ derricks and cranes rose sharply to $X in 2022, growing by 14% against the previous year. Over the period under review, consumption recorded mild growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, ship derrick buckets and shovels production rose markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a modest expansion. The growth pace was the most rapid in 2020 with an increase of 83% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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

Exports from Pakistan

In 2022, shipments abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -4.8% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 855%. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell modestly in the following year.

In value terms, ship derrick buckets and shovels exports reduced modestly to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 875%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Saudi Arabia (X units), Afghanistan (X units) and the United States (X units) were the main destinations of ship derrick buckets and shovels exports from Pakistan, together comprising 71% of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +228.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ship derrick buckets and shovels exported from Pakistan were the United States ($X), Saudi Arabia ($X) and Afghanistan ($X), together comprising 79% of total exports.

Saudi Arabia, with a CAGR of +122.3%, recorded 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 more modest paces of growth.

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, approximately equating the previous year. Over the period under review, export price indicated modest growth 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, ship derrick buckets and shovels export price increased by +27.0% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 47% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Oman ($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 Zimbabwe (+50.3%), 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 Pakistan

In 2022, imports of buckets, shovels, grabs and grips for ships’ derricks and cranes into Pakistan surged to X units, increasing by 83% on the previous year. Over the period under review, imports recorded a strong increase. The growth pace was the most rapid in 2020 with an increase of 302% against the previous year. As a result, imports reached the peak of X units. From 2021 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. Overall, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 312%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ship derrick buckets and shovels to Pakistan, with a 37% share of total imports. Moreover, ship derrick buckets and shovels imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. The third position in this ranking was held by the United States (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+12.5% per year) and the United States (+310.2% per year).

In value terms, China ($X) constituted the largest supplier of buckets, shovels, grabs and grips for ships’ derricks and cranes to Pakistan, comprising 32% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.5% per year) and the United States (+60.2% 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, reducing by -12% against the previous year. Overall, the import price showed a deep slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 92%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 Indonesia ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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