As one of the global economic hotspots, the Asia-Pacific region has enough reasons to be valued by every crane manufacturer. The Asia-Pacific region, especially the China region, has maintained a global leadership in economic growth every year. Even under the influence of COVID-19, it will reach 2.2% in 2020. China's industry has shouldered the important task of "stabilizing growth". In 2020 and 2021, The contribution rate of GDP growth has remained above 36.5%, a significant increase of 9.6 points compared with 2019, which has become an important support for promoting the stable recovery of the economy. With the development of the industrial manufacturing industry, the scale of the crane market has also shown a steady growth trend. In this article, we will examine how the Asia Pacific overhead crane market will evolve in 2022.
In 2020, the Asia Pacific Overhead Crane Market expanded modestly to $X, an increase of X% compared to the previous year. In general, however, consumption continues to show a relatively flat trend pattern. Growth in 2009 appears to be the fastest, with an X% increase compared to the previous year. As a result, consumption reaches a peak level of X dollars. From 2010 to 2020, the growth of the market remained at a low level.
China (X units) is the country with the largest production of overhead cranes, accounting for X% of the total production. In addition, China's overhead crane production is three times that of India (X units), the second largest producer. Jepang (X units) ranks third in terms of total production with an X% share.
In China, from 2007 to 2020, the production of overhead cranes has grown at an average annual rate of +X%. The average annual production growth rates for the remaining producing countries are as follows: India (+X% per year) and Japan (-X% per year).
China is the largest exporter of fixed-support overhead cranes in the Asia-Pacific region, and the export volume has reached X units, which will be close to X% of the total export volume in 2020. India (X units) came second with an X% share, followed by South Korea (X%). Malaysia (X satuan) dan Singapura (X units) are far behind the leaders.
From 2007 to 2020, the average annual growth rate of China's bridge crane exports is +X%. Meanwhile, India (+X%) showed a positive growth rate. Additionally, India emerged as the fastest growing exporter in the Asia Pacific region with a CAGR of +X% from 2007-2020. In contrast, South Korea (-X%), Malaysia (-X%) and Singapore (-X%) showed a downward trend over the same period. During 2007-2020, India (+X pp) and China (+X pp) have significantly increased their share of total exports, while Singapore (-X pp), Malaysia (-X pp) and South Korea (-X pp) share show negative growth.
In terms of value, China ($X) remains the largest supplier of overhead cranes in the Asia-Pacific region, accounting for X% of total exports. In second place is India ($X) with X% of total exports. It is closely followed by Malaysia with a market share of X%. In China, from 2007 to 2020, the average annual growth rate of bridge crane exports is +X%. The average annual export growth rates for the remaining exporting countries are as follows: India (+X% per annum) and Malaysia (+X% per annum).
In 2020, the export price of overhead cranes in Asia Pacific was X USD per unit, an increase of X% compared to the previous year. In general, however, export prices showed a marked decline. The most significant growth rate occurred in 2009, when export prices increased by X% year-on-year. As a result, export prices peaked at X dollars per unit.
From 2010 to 2020, growth in export prices failed to regain momentum. Prices vary significantly by country of origin; the highest priced country is Malaysia ($X per unit), while India ($X per unit) is one of the lowest. From 2007 to 2020, Malaysia achieved the most significant price growth, while other leaders saw a decline in export price figures.
Imports from Asia Pacific Foreign supply of fixed-support overhead cranes fell -X% to X units in 2020, the second year of decline after three consecutive years of growth. From 2007 to 2020, total imports showed a moderate expansion: over the past 13 years, imports have grown at an average annual growth rate of +X%. However, the trend pattern shows that some notable fluctuations were recorded throughout the analysis period. Based on 2020 data, imports fell by -X% compared to the 2018 index. The most significant growth rate occurred in 2014, with an X% increase compared to the previous year. In 2018, imports peaked at X units; however, from 2019 to 2020, the import figures were slightly lower.
In value terms, bridge crane imports fell significantly to $X in 2020. In general, however, imports continue to show a relatively flat trend pattern. In 2009, the growth rate was the fastest, with an increase of X% year-on-year. Therefore, imports peaked at X dollars. Import growth failed to regain momentum between 2010 and 2020.
In 2020, Indonesia (platform x), Bangladesh (platform x), Pakistan (platform x), Malaysia (platform x), Filipina (platform x), India (platform x), Thailand (platform x), Singapore (platform x), Australia (platform x), Nepal (platform x), South Korea (platform x) and China (platform x) are the major importers of fixed support bridge cranes in the Asia Pacific region, Accounting for X% of total imports.
From 2007 to 2020, the Philippines had the largest increase in procurement, while other leaders had a smaller increase in procurement. In terms of value, the largest bridge crane import markets in the Asia Pacific region are Indonesia (US $x), Pakistan (US $x) and India (US $x), accounting for X% of the total import.
Singapore, Bangladesh, China, Thailand, Australia, South Korea, Nepal, the Philippines and Malaysia lagged slightly, with the combined growth rate of imports among the major importing countries being the highest during the reporting period, while the procurement growth rate of other leaders was more moderate.
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