Report Update Nov 1, 2024

Republic of Korea - Truck Cranes - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Truck Crane Market 2024

Truck Crane Market Size in Republic of Korea

The South Korean truck crane market surged to $X in 2021, increasing by 29% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Truck crane consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Truck Crane Production in Republic of Korea

In value terms, truck crane production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep slump. The growth pace was the most rapid in 2018 with an increase of 1,024%. Truck crane production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Truck Crane Exports

Exports from Republic of Korea

After two years of decline, shipments abroad of truck cranes increased by 45% to X units in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 63%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, truck crane exports soared to $X in 2021. In general, exports, however, recorded a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), Cambodia (X units) and Vietnam (X units) were the main destinations of truck crane exports from South Korea, together comprising 10% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +40.8%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the United Arab Emirates ($X) and Cambodia ($X) appeared to be the largest markets for truck crane exported from South Korea worldwide, with a combined 84% share of total exports.

Among the main countries of destination, Cambodia, with a CAGR of +27.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average truck crane export price stood at $X per unit in 2021, falling by -3.7% against the previous year. Overall, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 24%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, 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 Vietnam ($X per unit), while the average price for exports to Mongolia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+7.7%), while the prices for the other major destinations experienced a decline.

Truck Crane Imports

Imports into Republic of Korea

For the third year in a row, South Korea recorded growth in overseas purchases of truck cranes, which increased by 35% to X units in 2021. Over the period under review, imports, however, showed a mild reduction. The pace of growth was the most pronounced in 2019 when imports increased by 282% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, truck crane imports soared to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 262%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of truck crane to South Korea, accounting for a 18% share of total imports. It was followed by Italy (X units), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +1.0%.

In value terms, Germany ($X) constituted the largest supplier of truck cranes to South Korea, comprising 98% of total imports. The second position in the ranking was taken by Italy ($X), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +1.2%.

Import Prices by Country

In 2021, the average truck crane import price amounted to $X per unit, with an increase of 6.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2018 an increase of 44% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Germany totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+21.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for truck cranes in the world?

The countries with the highest volumes of in 2021 were China, Poland and the United States, with a combined 22% share of global consumption.

What are the largest producers of truck cranes in the world?

Germany remains the largest truck crane producing country worldwide, comprising approx. 42% of total volume. Moreover, truck crane production in Germany exceeded the figures recorded by the second-largest producer, China, threefold. The United States ranked third in terms of total production with a 7.4% share.

What are the leading suppliers of truck cranes to Republic of Korea?

In value terms, Germany constituted the largest supplier of truck crane to South Korea.

What are the leading importers of truck cranes from Republic of Korea?

In value terms, the largest markets for truck crane exported from South Korea were Vietnam, Cambodia and India, with a combined 60% share of total exports.

What is the average export price for truck cranes in Republic of Korea?

In 2021, the average truck crane export price amounted to $43,934 per unit, increasing by 90% against the previous year.

What is the average import price for truck cranes in Republic of Korea?

In 2021, the average truck crane import price amounted to $23,232 per unit, with an increase of 3.6% against the previous year.

This report provides an in-depth analysis of the truck crane market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29105100 - Crane lorries

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023