United Kingdom: Lifting Equipment Market 2024

Lifting Equipment Market Size in the UK

In 2021, the UK lifting equipment market decreased by -37.8% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lifting Equipment Production in the UK

In value terms, lifting equipment production expanded to $X in 2021 estimated in export price. Overall, production, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Lifting equipment production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Lifting Equipment Exports

Exports from the UK

In 2021, overseas shipments of lifting equipment increased by 158% to X units, rising for the fifth year in a row after three years of decline. Over the period under review, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lifting equipment exports soared to $X in 2021. Overall, exports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2013 when exports increased by 108%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for lifting equipment exports from the UK, accounting for a 66% share of total exports. Moreover, lifting equipment exports to Venezuela exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. The third position in this ranking was taken by Romania (X units), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume to Venezuela stood at +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+80.3% per year) and Romania (+68.1% per year).

In value terms, Venezuela ($X) remains the key foreign market for lifting equipment exports from the UK, comprising 50% of total exports. The second position in the ranking was taken by the United States ($X), with a 5.7% share of total exports. It was followed by Indonesia, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to Venezuela stood at +48.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.2% per year) and Indonesia (+55.4% per year).

Export Prices by Country

In 2021, the average lifting equipment export price amounted to $X per unit, shrinking by -28.4% against the previous year. Over the period under review, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to Romania ($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 Slovakia (+31.4%), while the prices for the other major destinations experienced a decline.

Lifting Equipment Imports

Imports into the UK

In 2021, supplies from abroad of lifting equipment decreased by -12.2% to X units for the first time since 2017, thus ending a three-year rising trend. In general, imports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2020 with an increase of 173%. As a result, imports reached the peak of X units, and then fell in the following year.

In value terms, lifting equipment imports soared to $X in 2021. Overall, imports, however, recorded a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X units), the United States (X units) and Spain (X units) were the main suppliers of lifting equipment imports to the UK, with a combined 52% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +98.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of lifting equipment to the UK, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 6% share of total imports. It was followed by Spain, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to +66.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.0% per year) and Spain (+2.6% per year).

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2021, jumping by 295% against the previous year. Overall, the import price saw notable growth. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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