From January to June 2021, the trade volume between China and India was US$57.48 billion, a year-on-year increase of 62.7%. Among them, China's exports to India were US$42.76 billion, a year-on-year increase of 60.4%; imports from India were US$14.72 billion, a year-on-year increase of 69.6%.
From January to June 2021, the contract value of new projects signed by Chinese companies in India was US$830 million, a year-on-year decrease of 31.5%; the completed turnover was US$940 million, a year-on-year increase of 16.3%.
As neighbors, China and India have very close ties in their economic activities. It can be known from the data that the contracts of Chinese engineering companies in India will drive a series of related industries and jobs. As an indispensable part of engineering construction, lifting machinery has been brought into full play in India.
In the past year of 2021, Dongqi Crane, as a crane supplier providing crane services to the world, has reached more than 110 crane project cooperation with partners in India. This has helped us to open up the Indian crane market with better product and service quality. This article will analyze the possible changes in the Indian Overhead Cranes market in 2022 through the study of the Indian Overhead Cranes market data.
Before we start discussing the aerial crane market in India, we have a few small questions that need to be answered first. Let’s take a look
The Indian Overhead Crane Market fell to X dollars in 2020, down -X% from the previous year. Overall, however, consumption showed a marked contraction. The most significant growth rate occurred in 2014, with an X% year-over-year increase. As a result, consumption reaches a peak level of X dollars. From 2015 to 2020, the market growth rate remained at a low level.
In value terms, the production of overhead cranes in 2020 contracted sharply to $X (estimated at export prices). However, production continued to decline significantly during the period under review. The most significant growth rate occurred in 2014, with an X% year-over-year increase. As a result, production reached a peak level of X dollars. Production growth remained low from 2015 to 2020.
After four years of growth, overseas shipments of fixed-support overhead cranes fell -X% to X units in 2020. However, during the period under review, exports showed strong growth. The fastest growth in 2018, with exports up X% year-on-year. Exports peaked at X units in 2019 before falling sharply the following year.
In value terms, 2020 overhead crane exports dropped significantly to $X. Overall, however, exports showed modest growth. The most significant growth rate occurred in 2011, when exports increased by X% year-on-year. Exports peaked at $X in 2014; however, from 2015 to 2020, exports failed to regain momentum.
Nepal (X units) is the main destination for Indian overhead crane exports, accounting for X% of total exports. In addition, twice as many overhead cranes were exported to Nepal as to the second major destination, the United Arab Emirates (X units). In third place in this ranking is Kenya (X units) with an X% share.
From 2007 to 2020, the average annual growth rate of freight traffic to Nepal reached +X%. Exports to other major destinations recorded the following average annual export growth rates: United Arab Emirates (+X% per annum) and Kenya (+X% per annum).
In value terms, Nepal ($X), Saudi Arabia ($X) and Bangladesh ($X) are the largest markets for India's global exports of overhead cranes, together accounting for X% of total exports. This was followed by Nigeria, Myanmar, the United Arab Emirates, Kenya, Bhutan, Uganda, Oman, Kuwait and Tanzania, which further increased their export value growth rates among the top destination countries. During the period under review, other The leader's shipment growth rate was more modest.
In 2020, overseas purchases of fixed-support overhead cranes increased by X% to X units for the first time since 2017, ending a two-year downward trend. Overall, imports continue to show moderate expansion. The most significant growth rate occurred in 2008, when imports increased by X% year-on-year. Imports peaked at X units in 2009; however, from 2010 to 2020, import figures were slightly lower. In value terms, bridge crane imports surged significantly to $X in 2020. Overall, imports continued to show a relatively stable trend pattern. The most significant growth rate occurred in 2009, when imports increased by X% year-on-year. As a result, imports peaked at X dollars. Import growth failed to regain momentum between 2010 and 2020.
Germany (X units), China (X units) and Italy (X units) were the main suppliers of overhead cranes to India, together accounting for X% of total imports.
From 2007 to 2020, the largest increase was in China, while other leaders saw more modest growth in purchases. China (USD X) is the largest supplier of overhead cranes to India by value, accounting for X% of total imports. In second place is Germany ($X) with X% of total imports. It is followed by Italy with an X% share.
From 2007 to 2020, the average annual growth rate of value from China totaled +X%. The average annual growth rates of imports in the remaining supplier countries are as follows: Germany (+X% per annum) and Italy (-X% per annum).
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