Pakistan: Crane Market 2024

Crane Market Size in Pakistan

The Pakistani crane market soared to $X in 2022, increasing by 38% 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 enjoyed a strong expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Crane Exports

Exports from Pakistan

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exported from Pakistan contracted to X units, which is down by -8.5% on the previous year. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 402%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, crane exports contracted to $X in 2022. Over the period under review, exports saw a sharp slump. The pace of growth was the most pronounced in 2017 with an increase of 537%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X units), Qatar (X units) and Singapore (X units) were the main destinations of crane exports from Pakistan, with a combined 85% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +19.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Bangladesh ($X) and Singapore ($X) constituted the largest markets for crane exported from Pakistan worldwide, with a combined 83% share of total exports. Qatar, Kenya, Botswana and the United Arab Emirates lagged somewhat behind, together comprising a further 13%.

Kenya, with a CAGR of +42.7%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, surging by 6.3% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 an increase of 62% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Qatar ($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 Botswana (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Crane Imports

Imports into Pakistan

In 2022, overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 2.3% to X units, rising for the third consecutive year after two years of decline. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 929%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, crane imports surged to $X in 2022. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2015 when imports increased by 849%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of crane to Pakistan, with a 65% share of total imports. Moreover, crane imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sevenfold. Japan (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+62.5% per year) and Japan (+25.2% per year).

In value terms, China ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Pakistan, comprising 63% of total imports. The second position in the ranking was taken by Ireland ($X), with a 6.6% share of total imports. It was followed by Denmark, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+47.0% per year) and Denmark (+69.1% per year).

Import Prices by Country

The average crane import price stood at $X per unit in 2022, growing by 61% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The import price peaked at $X per unit in 2020; however, from 2021 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 Denmark ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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