Report Update Nov 1, 2024

Sri Lanka - Lifting Equipment - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Lifting Equipment Market 2024

Lifting Equipment Market Size in Sri Lanka

In 2021, the Sri Lankan lifting equipment market decreased by -60.7% to $X, falling for the third consecutive year after three years of growth. In general, consumption continues to indicate a significant decline. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Lifting Equipment Exports

Exports from Sri Lanka

After two years of growth, overseas shipments of lifting equipment decreased by -33.3% to X units in 2021. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 350% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lifting equipment exports dropped rapidly to $X in 2021. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 633%. The exports peaked at $X in 2020, and then declined remarkably in the following year.

Exports by Country

India (X units) was the main destination for lifting equipment exports from Sri Lanka, accounting for a 83% share of total exports. Moreover, lifting equipment exports to India exceeded the volume sent to the second major destination, Maldives (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to India stood at +19.6%.

In value terms, India ($X) remains the key foreign market for lifting equipment exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was taken by Maldives ($X), with a 1.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +22.3%.

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, dropping by -17.5% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 200%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Maldives stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (-4.5%), while the prices for the other major destinations experienced a decline.

Lifting Equipment Imports

Imports into Sri Lanka

In 2021, imports of lifting equipment into Sri Lanka reduced dramatically to X units, with a decrease of -54.3% compared with 2020 figures. Overall, imports saw a sharp setback. The pace of growth was the most pronounced in 2016 with an increase of 119% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports contracted dramatically to $X in 2021. In general, imports recorded a significant decrease. The pace of growth appeared the most rapid in 2018 with an increase of 184%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), Japan (X units) and Vietnam (X units) were the main suppliers of lifting equipment imports to Sri Lanka, with a combined 81% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +27.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of lifting equipment to Sri Lanka, comprising 50% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 18% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-3.7% per year) and Japan (-19.4% per year).

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, reducing by -9.9% against the previous year. In general, the import price, however, recorded a remarkable increase. The growth pace was the most rapid in 2017 when the average import price increased by 81%. The import price peaked at $X per unit in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+69.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lifting equipment in the world?

The countries with the highest volumes of lifting equipment consumption in 2020 were China, the United States and India, with a combined 35% share of global consumption. These countries were followed by Italy, Japan, Germany, Brazil, Russia, Pakistan, Bangladesh, Indonesia, France and Ethiopia, which together accounted for a further 33%.

What are the largest producers of lifting equipment in the world?

China constituted the country with the largest volume of lifting equipment production, accounting for 21% of total volume. Moreover, lifting equipment production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 7.1% share.

What are the leading suppliers of lifting equipment to Sri Lanka?

In value terms, Japan constituted the largest supplier of lifting equipment to Sri Lanka, comprising 87% of total imports. The second position in the ranking was occupied by South Korea, with a 6.4% share of total imports.

What are the leading importers of lifting equipment from Sri Lanka?

In value terms, India remains the key foreign market for lifting equipment exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was occupied by Singapore, with a 1% share of total exports.

What is the average export price for lifting equipment in Sri Lanka?

The average lifting equipment export price stood at $17,049 per unit in 2020, rising by 22% against the previous year.

What is the average import price for lifting equipment in Sri Lanka?

In 2020, the average lifting equipment import price amounted to $1,547 per unit, declining by -78.9% against the previous year.

This report provides an in-depth analysis of the lifting equipment market in Sri Lanka. 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 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
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