The Sri Lanka crane market contracted significantly to $X in 2020, down -X% compared to the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). During the period under review, consumption continued to show a relatively flat trend pattern. The rate of growth was most pronounced in 2008, when market capitalization increased by X% year-over-year. During the period under review, the market peaked at $X in 2015; however, from 2016 to 2020, consumption was at a lower level.

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Sri Lankan crane export scale
In 2020, the number of cranes and mobile cranes exported from Sri Lanka soared to X units, an increase of X% over the previous year. Overall, exports continued to expand significantly. As a result, exports peaked and may continue to grow in the short term.

In terms of value, crane exports surged to $X in 2020. During the period under review, exports showed significant growth. As a result, exports peaked and may continue to grow in the short term.

India (X units) was the main destination for Sri Lankan crane exports, accounting for X% of total exports. In addition, crane exports to India exceeded five times that to the second largest destination, Maldives (X units). Timor-Leste (X units) ranks third in total exports with a share of X%.

From 2007 to 2020, the average annual growth rate of cargo traffic to India totaled +X%. Exports to other major destinations recorded the following average annual export growth rates: Maldives (-X% per annum) and Timor-Leste (X% per annum).

The largest markets for Sri Lankan crane exports by value are India ($X), Timor-Leste ($X) and Maldives ($X), accounting for X% of total exports. India (+X% per annum) had the highest export value growth among the major destination countries during the review period, while the other leaders saw more modest growth in shipments.

Sri Lankan crane import scale
In 2020, the number of cranes, mobile cranes imported by Sri Lanka dropped significantly to X units, a -X% decrease compared to 2019. Slight reduction. The growth rate was most pronounced in 2015, with an X% increase over the previous year. As a result, imports peaked at X units. Import growth failed to regain momentum between 2016 and 2020.

In value terms, crane imports fell sharply to $X in 2020. During the period under review, imports recorded significant growth. Growth appears to be the fastest in 2008, when imports increased by X% over the previous year. Imports peaked at $X in 2014; however, from 2015 to 2020, import volumes have remained low.

In 2020, Japan (X units) was the largest crane supplier to Sri Lanka, accounting for X% of total imports. In addition, the number of cranes imported from Japan was more than double the number recorded by the second largest supplier, China (X units). India (X units) occupies third place in the ranking with an X% share.

From 2007 to 2020, sales in Japan have grown at an average annual rate of +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and India (+X% per annum).

China (USD X) is the largest crane supplier to Sri Lanka by value, accounting for X% of total imports. In second place is Germany ($X) with X% of total imports. It is followed by India with an X% share.

From 2007 to 2020, the average annual growth rate of value from China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Germany (+X% per annum) and India (+X% per annum).

Statistics of various crane suppliers in Sri Lanka
China ($27 million) is Sri Lanka’s largest crane supplier by value, accounting for 62% of total imports. In second place was Germany ($6 million), which accounted for 14% of total imports. It is followed by India with a 13% share.

The largest markets for Sri Lankan crane exports by value were India ($3.5 million), Timor-Leste ($1.9 million) and the Maldives ($764,000), which together accounted for 94% of total exports.

In 2020, the average export price of cranes was US$391,507 per unit, an increase of 24% over the previous year.

In 2020, the average price of crane imports was US$107,873 per unit, up 6.1% from the previous year.

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