South-Eastern Asia: Truck Crane Market 2025

Truck Crane Market Size in South-Eastern Asia

The Southeast Asian truck crane market rose significantly to $X in 2021, growing by 9.7% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Truck Crane Production in South-Eastern Asia

In value terms, truck crane production reduced to $X in 2021 estimated in export price. Overall, production showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of 275%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Truck Crane Exports

Exports in South-Eastern Asia

Truck crane exports skyrocketed to X units in 2021, with an increase of 252% on the previous year. Overall, exports, however, recorded a abrupt decline. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, truck crane exports soared to $X in 2021. In general, exports, however, saw a noticeable curtailment. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the main exporter of truck cranes in South-Eastern Asia, with the volume of exports accounting for X units, which was near 63% of total exports in 2021. It was distantly followed by Thailand (X units) and the Philippines (X units), together committing a 25% share of total exports. Malaysia (X units), Indonesia (X units) and Vietnam (X units) held a little share of total exports.

Exports from Singapore decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, Vietnam (+35.8%), the Philippines (+20.1%), Thailand (+7.1%) and Indonesia (+1.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +35.8% from 2012-2021. By contrast, Malaysia (-7.7%) illustrated a downward trend over the same period. While the share of Thailand (+12 p.p.), the Philippines (+7.5 p.p.), Vietnam (+2.9 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-24.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest truck crane supplying countries in South-Eastern Asia were Thailand ($X), Singapore ($X) and Malaysia ($X), together accounting for 94% of total exports. Indonesia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 4.7%.

Vietnam, with a CAGR of +34.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, growing by 130% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+20.0%), while the other leaders experienced more modest paces of growth.

Truck Crane Imports

Imports in South-Eastern Asia

In 2021, approx. X units of truck cranes were imported in South-Eastern Asia; with an increase of 23% on 2020 figures. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 38% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, truck crane imports soared to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Myanmar (X units), Indonesia (X units) and Vietnam (X units) was the largest importer of truck cranes in South-Eastern Asia, constituting 76% of total import. Thailand (X units) took a 6% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (4.8%). The following importers - the Philippines (X units), Cambodia (X units) and Lao People's Democratic Republic (X units) - together made up 10% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +41.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 67% share of total imports. These countries were followed by Vietnam, Singapore, the Philippines, Lao People's Democratic Republic and Cambodia, which together accounted for a further 30%.

Vietnam, with a CAGR of +39.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, which is down by -6.1% against the previous year. In general, the import price showed a mild decrease. The pace of growth appeared the most rapid in 2020 when the import price increased by 23% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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