The Indian Lifting Equipment Market dipped marginally to $X in 2021, down -X% from the previous year. From 2012 to 2021, the market capitalization has grown at an average annual rate of +X%; the trend pattern indicates that some notable fluctuations were recorded throughout the analysis period. As a result, consumption reaches a peak level of X dollars. From 2019 to 2021, the market growth rate will remain at a low level.
In value terms, 2021 hoisting equipment production is estimated to fall to X USD at export prices. 2012-2021 Gross output averages +X% annual growth; trend patterns suggest some notable fluctuations in some years. The most significant growth rate occurred in 2018, when production increased by X%. As a result, production reached a peak level of X dollars. Production growth failed to regain momentum from 2019 to 2021.
In 2021, India's hoisting equipment exports fell sharply to X units, down -X% compared to 2020 figures. During the period under review, exports declined sharply. The fastest growth in 2020, with exports up X%. Exports peaked at X units in 2012; however, from 2013 to 2021, exports failed to regain momentum.
In value terms, hoisting equipment exports fell significantly to $X in 2021. Overall, exports suffered a severe setback. Growth was the fastest in 2020, up X%. Exports peaked at $X in 2012; however, from 2013 to 2021, export volumes were at lower levels.
The United Arab Emirates (X units) is the leading destination for Indian lifting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to the United Arab Emirates are twice as high as to Nigeria (X units), the second largest destination. In third place is Nepal (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of cargo traffic to the United Arab Emirates is -X%. Exports to other major destinations recorded the following average annual export growth rates: Nigeria (+X% per annum) and Nepal (+X% per annum).
By value, the largest markets for lifting equipment exports from India are the United Arab Emirates ($X), Vietnam ($X), and Malaysia ($X), which together account for X% of total exports. Nepal, Ethiopia, Nigeria, Germany, Sudan, Kenya and the United Kingdom are somewhat lagging behind, and together account for X, with a CAGR of +X%, with the highest growth rate in terms of export value, with the main Freight volumes in destination countries grew at a more modest pace.
In 2021, about X lifting equipment will be imported into India; this is a -X% decrease from the previous year's figure. Overall, imports fell slightly. The fastest growth in 2014 was X% over the previous year. During the period under review, imports peaked at X units in 2015; however, from 2016 to 2021, imports have remained low.
In value terms, hoisting equipment imports fell sharply to $X in 2021. Overall, imports fell sharply. 2014 saw the fastest growth, with imports increasing by X% year-on-year. Imports peaked at $X in 2015; however, imports declined slightly from 2016 to 2021.
China (X units), Turkey (X units) and Austria (X units) are the main suppliers of lifting equipment imports to India, accounting for X% of total imports. From 2012 to 2021, among the major suppliers, the most significant growth rate in sourcing is Austria (+X% CAGR), while other leaders have seen more modest growth in imports.
China (USD X) is the largest lifting equipment supplier to India by value, accounting for X% of total imports. In second place is Turkey ($X) with X% of total imports. It is followed by the UK with an X% share.
From 2012 to 2021, the average annual growth rate of China's output value is -X%. The average annual growth rates of imports for the remaining suppliers are as follows: Turkey (+X% per annum) and the United Kingdom (+X% per annum).
China is India's largest supplier of lifting equipment by value, accounting for 40% of total imports. In second place is Turkey, which accounts for 16% of total imports. It is followed by the UK with a share of 6.2%.
The largest markets for lifting equipment exports from India by value are the United Arab Emirates, Vietnam and Malaysia, which together account for 69% of total exports. Nepal, Ethiopia, Nigeria, Germany, Sudan, Kenya and the United Kingdom are slightly behind with a combined 18%.
The average export price of hoisting equipment in 2021 is $4,949 per unit, down -40.8% from the previous year.
The average import price of hoisting equipment in 2021 is US$7,017/unit, a year-on-year decrease of -21.9%.
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