In the past 2021, the economies of Asian countries have experienced a certain degree of recovery, and China's GDP growth rate in the first half of the year was as high as 12%. This is a welcome news for us who need to keep an eye on the Asian crane market. In the past year, Dongqi has provided more than 1,000 various crane project services to more than 40 countries and regions around the world. This article will do some analysis on the market size and future trends of overhead cranes in Asia in 2022 based on some historical data and perceptions.
The Asian Overhead Crane Market has edged up to $X in 2020, surging X% from the previous year. Overall, however, consumption showed a relatively flat trend pattern. The most significant growth rate occurred in 2009, when the market value increased by X% year-on-year. As a result, spending reached the highest level of X dollars. From 2010 to 2020, the market growth rate remained at a low level.
China (X units) remains the largest producer of overhead cranes in Asia, with about X% of the total volume. In addition, China's overhead crane production is more than three times the number recorded by the second largest producer, Ấn độ (X units). Nhật bản (X units) ranked third with X% of total production. In China, between 2007 and 2020, the production of overhead cranes has grown at an average annual rate of +X%. Average production growth rates for the remaining producers are as follows: India (+X% per annum) and Japan (-X% per annum).
In 2020, after two years of growth, overseas shipments of fixed-support overhead cranes fell significantly, with sales falling -X% to X units. Overall, however, exports recorded significant growth. The most significant growth rate occurred in 2008, with an X% year-on-year increase. Exports peaked at X units in 2019, before falling sharply the following year. In terms of value, 2020 overhead crane exports fell sharply to $X.
From 2007 to 2020, the total export volume has grown significantly: its value has grown at an average annual rate of +X% over the past 13 years. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. According to the 2020 data, exports decreased by -X% compared to the 2018 index. The most significant growth rate occurred in 2008, when exports increased by X% over the previous year. During the period under review, exports peaked at $X in 2012; however, from 2013 to 2020, exports failed to regain momentum
In 2020, China (X units) was the leading exporter of fixed support overhead cranes, accounting for X% of total exports. India (X units) accounted for X% of total exports (in tonnes), ranking second, followed by Thổ nhĩ kỳ (X%), South Korea (X%) and the Các Tiểu Vương Quốc Ả Rập Thống Nhất (X%). Malaysia (X đơn vị) và Singapore (X units) are far behind the leaders.
From 2007 to 2020, China's exports grew at an average annual rate of +X%. Meanwhile, the United Arab Emirates (+X%), India (+X%) and Turkey (+X%) grew. In addition, the United Arab Emirates emerged as the fastest growing exporter in Asia with a CAGR of +X% from 2007-2020. In contrast, South Korea (-X%), Malaysia (-X%) and Singapore (-X%) showed a downward trend over the same period. While the shares of India (+X pp), China (+X pp) and the United Arab Emirates (+X pp) increased significantly in total exports in 2007-2020, the share of Singapore (-X pp), Malaysia ( -X pp) and Korea (-X pp) exhibit negative dynamics. The share of other countries remained relatively stable throughout the analysis period.
China ($X) remains the largest supplier of overhead cranes in Asia by value, accounting for X% of total exports. In second place is the United Arab Emirates ($X) with X% of total exports. It is followed by Turkey with an X% share. From 2007 to 2020, the average annual value growth in China is +X%. The average annual growth rates of exports for the remaining exporting countries are as follows: United Arab Emirates (+X% per annum) and Turkey (+X% per annum).
In 2020, the export price of bridge cranes in Asia was X USD/unit, an increase of X% year-on-year. But overall, export prices fell slightly. The growth rate was most pronounced in 2009, with a year-on-year increase of X%. As a result, export prices peaked at X dollars per unit.
From 2010 to 2020, export price growth failed to regain momentum. There are significant differences in average prices between major exporting countries. In 2020, the country with the highest prices is Malaysia ($X per unit), while India ($X per unit) is one of the lowest.
From 2007 to 2020, Malaysia saw the most significant price growth, while export price data from other leaders showed a mixed trend.
Overseas purchases of fixed-support overhead cranes decreased -X% to X units in 2020, falling for the second consecutive year after two years of growth. From 2007 to 2020, total imports have grown significantly: over the past 13 years, its imports have grown at an average annual rate of +X%. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. Based on 2020 data, imports are down -X% compared to the 2018 index. The rate of growth was most pronounced in 2008, when imports increased by X% year-on-year.
During the period under review, imports reached a maximum of X units in 2018; however, from 2019 to 2020, imports decreased slightly. In 2020, the import volume of overhead cranes decreased significantly to USD X by value. But overall, imports showed a relatively stable trend pattern. In 2008, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports reached a record $X in 2009; however, from 2010 to 2020, imports failed to regain momentum.
In 2020, Turkey (Taiwan X), Indonesia (Taiwan X), Bangladesh (Taiwan X), Pakistan (Taiwan X), Malaysia (Taiwan X), United Arab Emirates (Taiwan X), Philippines (Taiwan X), India (Taiwan X) X units), Thái lan (X units), Singapore (X units), Oman (X đơn vị) và Kazakhstan (X units) are the major importers of fixed-support overhead cranes in Asia, accounting for X% of total imports. Azerbaijan (X units) accounted for a small fraction of total imports.
From 2007 to 2020, among the major importing countries, Azerbaijan experienced the most significant growth in purchases, while other leaders saw more modest growth in imports.
By value, Indonesia ($X), Turkey ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2020, together accounting for X% of total imports. During the period under review, Turkey had the highest growth in import value among major importing countries, while other leaders saw more modest growth in purchases.
From the perspective of the import and export structure of cranes, China's crane industry is generally export-oriented, with a large trade surplus, especially in Asia, which has a very broad market. Although there is a certain gap in technology with competitors in Europe and the Hoa Kỳ, this does not affect China becoming a major crane manufacturer. In the low-end market, China has more market share due to its price advantage. Compared with European and American competitors, Chinese crane manufacturers still have a gap in technology, and they also have certain disadvantages in terms of industrial chain and product structure, but this is not out of reach. More importantly, China has never given up independent research and development in this field, and already has a considerable industrial scale, creating several world-renowned brands.
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