South-Eastern Asia: Mounting Lifting Equipment Market 2025

Mounting Lifting Equipment Market Size in South-Eastern Asia

The Southeast Asian mounting lifting equipment market skyrocketed to $X in 2021, surging by 17% against the previous year. Over the period under review, consumption posted a strong expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Mounting Lifting Equipment Production in South-Eastern Asia

In value terms, mounting lifting equipment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 110%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Mounting Lifting Equipment Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of lifting equipment designed for mounting on road vehicles was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 149% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, mounting lifting equipment exports surged to $X in 2021. In general, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 182% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand dominates exports structure, resulting at X units, which was approx. 88% of total exports in 2021. It was distantly followed by Singapore (X units), constituting an 8.6% share of total exports. Malaysia (X units) took a minor share of total exports.

Thailand was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles exports, with a CAGR of +19.8% from 2012 to 2021. At the same time, Malaysia (+19.6%) displayed positive paces of growth. By contrast, Singapore (-11.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Malaysia increased by +48 and +1.5 percentage points, respectively.

In value terms, Thailand ($X) remains the largest mounting lifting equipment supplier in South-Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Singapore ($X), with a 7.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +17.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-12.5% per year) and Malaysia (+10.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, increasing by 3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 29%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.2%), while the other leaders experienced a decline in the export price figures.

Mounting Lifting Equipment Imports

Imports in South-Eastern Asia

In 2021, the amount of lifting equipment designed for mounting on road vehicles imported in South-Eastern Asia contracted to X units, declining by -13.3% on the year before. Overall, imports saw a mild contraction. The growth pace was the most rapid in 2019 when imports increased by 64% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, mounting lifting equipment imports contracted to $X in 2021. In general, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 36%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Thailand was the major importer of lifting equipment designed for mounting on road vehicles in South-Eastern Asia, with the volume of imports accounting for X units, which was near 49% of total imports in 2021. Singapore (X units) ranks second in terms of the total imports with a 21% share, followed by Malaysia (11%), the Philippines (6.6%) and Indonesia (5.9%). The following importers - Myanmar (X units) and Vietnam (X units) - each amounted to a 4% share of total imports.

Imports into Thailand increased at an average annual rate of +7.4% from 2012 to 2021. At the same time, the Philippines (+27.3%) and Myanmar (+14.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +27.3% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, Malaysia (-3.6%), Indonesia (-8.6%) and Singapore (-9.1%) illustrated a downward trend over the same period. Thailand (+26 p.p.), the Philippines (+5.9 p.p.) and Myanmar (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Indonesia and Singapore saw its share reduced by -3.2%, -6.2% and -24.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest mounting lifting equipment importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and Malaysia ($X), together accounting for 81% of total imports. Indonesia, the Philippines, Vietnam and Myanmar lagged somewhat behind, together accounting for a further 17%.

The Philippines, with a CAGR of +19.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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, rising by 7.5% against the previous year. Overall, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2013 when the import price increased by 15%. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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