Southern Asia: Crane Market 2025

Crane Market Size in Southern Asia

The South Asian crane market soared to $X in 2022, with an increase of 28% against the previous year. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.2% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Crane Production in Southern Asia

In value terms, crane production contracted to $X in 2022 estimated in export price. In general, production recorded a abrupt decline. The pace of growth was the most pronounced in 2021 when the production volume increased by 3.6%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Crane Exports

Exports in Southern Asia

In 2022, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 31% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 41% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, crane exports expanded sharply to $X in 2022. Overall, exports, however, recorded a slight curtailment. The growth pace was the most rapid in 2015 with an increase of 62% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

India prevails in exports structure, accounting for X units, which was near 94% of total exports in 2022. Sri Lanka (X units) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane. Sri Lanka experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest crane supplier in Southern Asia, comprising 94% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 3.9% share of total exports.

In India, crane exports contracted by an average annual rate of -1.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, reducing by -14.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by 15%. The level of export peaked at $X per unit in 2021, and then shrank in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while India totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.6%).

Crane Imports

Imports in Southern Asia

Crane imports soared to X units in 2022, with an increase of 41% compared with 2021. In general, imports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of 47%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, crane imports soared to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, India (X units) was the largest importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, generating 70% of total imports. Bangladesh (X units) held the second position in the ranking, distantly followed by Pakistan (X units). All these countries together took approx. 25% share of total imports. Sri Lanka (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crane imports into India stood at +4.5%. At the same time, Bangladesh (+14.9%), Pakistan (+5.9%) and Sri Lanka (+2.3%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.9% from 2012-2022. From 2012 to 2022, the share of Bangladesh increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Southern Asia, comprising 73% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total imports. It was followed by Pakistan, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value in India totaled +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+9.1% per year) and Pakistan (+8.5% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, which is down by -1.6% against the previous year. In general, the import price showed a noticeable contraction. The pace of growth was the most pronounced in 2020 an increase of 8.4% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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