The Asia Pacific crane market shrank to $X in 2020, down -X% compared to the previous year. During the period under review, consumption showed a moderate contraction. The growth rate was most pronounced in 2008, when the market value increased by X% year-on-year. Consumption levels peaked at $X in 2009; however, from 2010 to 2020, consumption has remained low.

In value terms, 2020 crane production is estimated to fall to X dollars at export prices. Overall, however, production declined slightly. The most significant growth rate occurred in 2008, with an X% year-on-year increase. Production levels peaked at $X in 2009; however, from 2010 to 2020, production remained low.

China (X units) remains the largest crane producer in Asia Pacific with about X% of the total volume. In addition, China’s crane production exceeded the figure recorded by Pakistan (X units), the second largest producer, by six times. South Korea (X units) ranked third with X% of total production.

In China, crane production remained relatively stable between 2007 and 2020. Average annual production growth rates for the remaining producing countries are as follows: Pakistan (+X% per annum) and South Korea (-X% per annum).

LD Single girder overhead crane main girder
10 ton LD Single girder overhead crane main girder

Asia-Pacific crane export scale
In 2020, overseas shipments of cranes increased by X% to X units, the fourth consecutive year of growth after two years of decline. From 2007 to 2020, the total value of exports has grown significantly: in the past 13 years, the export volume has grown at an average annual rate of +X%. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. According to 2020 data, exports increased by +X% compared to the 2016 index. The most significant growth rate occurred in 2012, with an X% year-on-year increase. Export volumes peaked in 2020 and are expected to keep growing in the coming years.

In value terms, crane exports fell significantly to X dollars in 2020. Overall, exports contracted modestly. The growth rate was most pronounced in 2008, with a year-on-year increase of X%. As a result, exports peaked at X dollars. From 2009 to 2020, the growth rate of exports remained at a low level.

China is the largest exporter, exporting about X units, accounting for X% of total exports. This is followed by Japan (X units), India (X units) and Australia (X units), which together account for X% of total exports. The following exporting countries – South Korea (X units), Singapore (X units) and Pakistan (X units) – together accounted for X% of total exports.

From 2007 to 2020, the average annual growth rate of Chinese crane exports is +X%. Meanwhile, Pakistan (+X%), India (+X%) and Australia (+X%) all recorded positive growth. In addition, Pakistan became the fastest growing exporter in Asia Pacific with a CAGR of +X% from 2007-2020. Singapore experienced a relatively flat trend pattern. In contrast, Japan (-X%) and South Korea (-X%) showed a downward trend over the same period. While the shares of China (+X pp), India (+X pp) and Pakistan (+X pp) increased significantly in total exports 2007-2020, Singapore (-X pp), South Korea (-X pp) and Japan (-X pp) show negative dynamics. The share of other countries remained relatively stable throughout the analysis period.

China ($X) remains the largest crane supplier in Asia Pacific by value, accounting for X% of total exports. In second place is Japan ($X) with X% of total exports. It is followed by South Korea with an X% share. From 2007 to 2020, the average annual value growth rate in China was relatively modest. The average annual growth rate of exports for the remaining exporting countries is as follows: Japan (-X% per annum) and South Korea (-X% per annum)

Asia-Pacific Crane Import Scale
In 2020, Australia (unit X), India (unit X), Singapore (unit X), the Philippines (unit X), Indonesia (unit X) and Malaysia (unit X) were the major importers of cranes, together accounting for X%. Vietnam (X units), South Korea (X units), Pakistan (X units), Japan (X units), Nauru (X units), Thailand (X units) and China (X units) have a higher share of total imports little.

From 2007 to 2020, Australia’s imports have grown at an average annual rate of +X%. Meanwhile, the Philippines (+X%), Nauru (+X%), Pakistan (+X%), India (+X%), Malaysia (+X%) and Indonesia (+X%) showed positive increase. In addition, the Philippines became the fastest growing importer in Asia Pacific with a CAGR of +X% from 2007-2020. Vietnam experienced a relatively flat trend pattern. In contrast, South Korea (-X%), Thailand (-X%), Japan (-X%), Singapore (-X%) and China (-X%) showed a downward trend over the same period.

From 2007 to 2020, Australia, the Philippines and India increased their shares by +X%, +X% and +X% percentage points respectively, while Japan (-X pp), China (-X pp) and Singapore (-X pp) ) saw their share decrease. By value, Indonesia ($X), Singapore ($X) and India ($X) were the countries with the highest levels of imports in 2020, together accounting for X% of total imports.

Among the major importing countries, Indonesia recorded the highest growth in import value during the review period, while other leaders saw more modest growth in purchases.

Statistics of various crane suppliers in Asia-Pacific
China ($2.6B) remains the largest crane supplier in Asia Pacific by value, accounting for 67% of total exports. In second place was Japan ($718 million), which accounted for 19% of total exports. It is followed by South Korea with a share of 4.7%.

By value, Indonesia ($317 million), Singapore ($289 million) and India ($280 million) were the countries with the highest levels of imports in 2020, together accounting for 34% of total imports.

In 2020, the export price of cranes in the Asia-Pacific region was US$38,919 per unit, a year-on-year decrease of -22.3%.

In 2020, the import price of cranes in the Asia-Pacific region was US$33,753/unit, a year-on-year decrease of -1.5%.

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