In 2021, after three years of growth, the Bangladesh lifting equipment market has experienced a significant decline, with its value falling by -X% to X dollars. However, during the period under review, consumption growth was strong. As a result, consumption peaks at X dollars before shrinking the following year.
In value terms, hoisting equipment production fell to an estimated $X at export prices in 2021. Overall, however, production recorded strong growth. The fastest growth in 2019, with an X% increase in production. Lifting equipment production peaked at $X in 2020 before declining the following year.
In 2021, about X lifting equipment will be exported from Bangladesh; -X% decrease compared to the previous year. Overall, exports contracted sharply. Growth appears to be the fastest in 2020, when exports increased by X% over the previous year. Exports peaked at X units in 2012; however, from 2013 to 2021, exports remain low.
In terms of value, lifting equipment exports plummeted to $X in 2021. Overall, exports continue to show sharp declines. The most significant growth rate occurred in 2020, when exports increased by X% over the previous year. During the period under review, exports peaked at $X in 2012; however, from 2013 to 2021, exports were at lower levels.
India (X units) is the main destination for Bangladeshi hoisting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to India are six times larger than to Indonesia (X units), the second largest destination.
From 2012 to 2021, the average annual growth rate of cargo traffic to India has been relatively modest.
In value terms, India ($X) remains the leading foreign market for Bangladeshi hoisting equipment exports, accounting for X% of total exports. In second place is Indonesia ($X) with X% of total exports.
Average annual growth in value to India from 2012 to 2021 is +X%.
In 2021, overseas purchases of lifting equipment will increase by X% to X units, the second consecutive year of growth after two years of decline. Overall, imports recorded significant growth. The most significant growth rate occurred in 2017, when imports increased by X% over the previous year. Imports peaked in 2021 and may gradually increase in the short term.
Lifting equipment imports shrink to $X in 2021 in value terms. Overall, imports recorded strong growth. The most significant growth rate occurred in 2017, when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.
Germany (X units), Indonesia (X units) and the Netherlands (X units) are the main suppliers of lifting equipment imports to Bangladesh, accounting for X% of total imports. This is followed by China, Singapore, Italy and Slovenia, which together account for X-fold from 2012 to 2021, with the largest increase in Singapore (+X% CAGR), while other leaders’ purchases The pace is more moderate growth.
China (USD X) is the largest supplier of lifting equipment to Bangladesh by value, accounting for X% of total imports. In second place is Singapore ($X) with X% of total imports. It is followed by Germany with an X% share.
From 2012 to 2021, 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: Singapore (+X% per annum) and Germany (+X% per annum).
China is Bangladesh's largest supplier of lifting equipment by value, accounting for 41% of total imports. In second place is Singapore, which accounts for 10% of total imports. It is followed by Germany with a 10% share.
In value terms, India remains the main foreign market for Bangladeshi hoisting equipment exports, accounting for 97% of total exports. In second place is Indonesia ($1), which accounts for 0% of total exports.
The average export price of hoisting equipment in 2021 is US$6,726 per unit, a year-on-year decrease of -4.6%.
The average import price of hoisting equipment in 2021 is $7,436 per unit, down -8.8% from the previous year.
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