The Indian Crane Market has declined significantly to $X in 2020, down -X% compared to the previous year. Overall, consumption continued to decline significantly. The most significant growth rate occurred in 2019, when the market cap increased by X% year-over-year. Crane consumption peaked at $X in 2009; however, from 2010 to 2020, consumption failed to regain momentum.

In value terms, crane production in 2020 fell to an estimated $X at export prices. During the period under review, however, there was a significant drop in production. The most significant growth rate occurred in 2012, when production increased by X% over the previous year. During the period under review, production peaked at $X in 2007; however, from 2008 to 2020, production has been at lower levels.

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Indian crane export scale
In 2020, overseas shipments of cranes, mobile cranes fell -X% to X units for the first time since 2017, ending a two-year upward trend. Overall, however, exports continued to show strong growth momentum. The growth rate was most pronounced in 2012, with an X% increase over the previous year. Exports peaked at X units in 2019 before falling rapidly the following year.

Crane exports contracted rapidly to $X in 2020 in value terms. However, during the period under review, there was a significant increase in exports. The most significant growth rate occurred in 2012, when exports increased by X% year-on-year. Exports peaked at $X in 2016; however, from 2017 to 2020, exports were slightly lower.

Spain (X units), Iran (X units) and the United States (X units) were the main destinations for Indian crane exports, together accounting for X% of total exports. This is followed by Nepal, Nigeria, Belgium, Thailand, Ethiopia, Taiwan (China), Saudi Arabia, Kenya, Uganda and Vietnam, which have seen the most significant growth in shipments from 2007 to 2020. Among destination countries, Nepal achieved (+X% per annum), while exports from other countries experienced a more moderate pace of growth.

Iran ($X), Spain ($X) and Nigeria ($X) make up the largest crane market from India globally by value, accounting for X% of total exports. This is followed by Nepal, USA, Thailand, Belgium, Saudi Arabia, Kenya, Uganda, Vietnam, Ethiopia and Taiwan (China), which together account for the highest growth rate of X (+X% per annum) in terms of exports value, in terms of major destination countries during the review period, while other leaders saw more modest growth in shipments.

Import scale of cranes in India
In 2020, India’s crane imports decreased to X units, -X% less than the previous year. During the period under review, however, there was a significant increase in imports. The fastest growth in 2008, an increase of X% over the previous year. During the period under review, imports reached an all-time high of X units in 2009; however, from 2010 to 2020, imports were slightly lower.

Crane imports fell sharply to $X in 2020 by value. But overall, imports have fallen markedly. The most significant growth rate occurred in 2008, with an X% year-on-year increase. Imports peaked at $X in 2011; however, from 2012 to 2020, imports failed to regain momentum.

China (X units), the United States (X units) and Italy (X units) were the main suppliers of crane imports to India, together accounting for X% of total imports. From 2007 to 2020, the largest increase was in Italy, while other leaders saw more modest growth in purchases.

China ($X) is India’s largest crane supplier by value, accounting for X% of total imports. In second place is the United States ($X) with X% of total imports. It is followed by Germany 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 supplier countries are as follows: the United States (-X% per year) and Germany (-X% per year).

Statistics of various crane suppliers in India
China is India’s largest crane supplier by value, accounting for 51% of total imports. In second place is the United States, which accounts for 10% of total imports. It is followed by Germany with a share of 9.8%.

The largest markets for Indian crane exports by value are Iran, Spain and Nigeria, which together account for 27% of total exports. Nepal, the United States, Thailand, Belgium, Saudi Arabia, Kenya, Uganda, Vietnam, Ethiopia and Taiwan) were slightly behind, with a combined 31 percent.

In 2020, the average export price of cranes was US$10,982 per unit, an increase of 27% over the previous year.

The average import price of cranes in 2020 was USD 30,071 per unit, down -19.5% from the previous year.

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