After four years of decline, the Indian haulage and overhead crane market is expected to grow by X% to $X in 2021. During the period under review, consumption recorded a significant increase. During the period under review, the market hit an all-time high of $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.
Exports of transport cranes, gantry cranes and overhead cranes from India surged to X units in 2021, an increase of X% over 2020 figures. Overall, exports recorded significant growth. The growth rate was most pronounced in 2015, with a year-on-year increase of X%. During the period under review, exports hit an all-time high in 2021 and are expected to keep growing in the years ahead.
Exports of haulage and overhead cranes soar to $X in 2021 in value terms. Overall, exports recorded moderate growth. 2015 saw the fastest growth, with exports increasing by X% over the previous year. As a result, exports peaked at X dollars. From 2016 to 2021, the export growth rate will remain at a low level.
Bangladesh (units X), the United States (units X) and Nepal (units X) were the main destinations for India's haul truck and overhead crane exports, together accounting for X% of total exports. Uganda, Saudi Arabia, Gabon, Nigeria, Kenya, Tanzania, Libya, Ethiopia and Kuwait are somewhat lagging behind and together account for X further from 2012 to 2021, with the largest increase in Libya (+X%), while other leaders’ shipments volume experienced a more moderate pace of growth.
In terms of value, Bangladesh ($X) emerged as the leading foreign market for India's haulage and overhead crane exports, accounting for X% of total exports. In second place is Nepal ($X) with X% of total exports. It is followed by the United States with an X% share.
Average annual growth in value to Bangladesh from 2012 to 2021 is +X%. Exports to other major destinations recorded the following average annual export growth rates: Nepal (+X% per annum) and the United States (+X% per annum).
Overseas purchases of transport cranes, gantry cranes and overhead cranes increased by X% to X units in 2021, the second consecutive year of growth after two years of decline. Overall, imports recorded strong growth. The growth rate was most pronounced in 2016, with an X% increase over the previous year. Imports peaked in 2021 and may continue to grow in the near future.
Imports of transporters and overhead cranes soar to $X by value in 2021. Overall, imports fell slightly. 2016 saw the fastest growth, with imports increasing by X% year-on-year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remain low.
In 2021, China (X units) is the largest supplier of transport cranes and overhead cranes in India, accounting for X% of total imports. In addition, transport cranes and overhead cranes imported from China were nine times higher than the figures recorded by the second largest supplier, Kuwait (X units).
From 2012 to 2021, the average annual growth rate of sales from China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Kuwait (X% per annum) and South Korea (+X% per annum). China (USD X) is the largest supplier of transport and overhead cranes to India by value, accounting for X% of total imports. In second place is South Korea ($X) with X% of total imports.
From 2012 to 2021, the average annual growth rate of value from China reaches +X%. The average annual growth rates of imports for the remaining suppliers are as follows: South Korea (+X% per annum) and Kuwait (X% per annum).
China is India's largest supplier of transport and overhead cranes by value, accounting for 85% of total imports. In second place was South Korea, which accounted for 7.9% of total imports.
In terms of value, Bangladesh emerged as the leading foreign market for Indian transport aircraft and overhead crane exports, accounting for 48% of total exports. In second place is Nepal, which accounted for 8.2% of total exports. It is followed by the United States with a share of 6.4%.
The average export price for transporters and overhead cranes in 2021 is $3,625 per unit, unchanged from the previous year.
In 2021, the average import price of transporters and overhead cranes will be $17,147 per unit, up 9.7% from the previous year.
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