The Indonesian lifting equipment market will shrink significantly to USD X in 2021, down -X% from the previous year. But overall, consumption shows a relatively flat trend pattern. 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, hoisting equipment production fell to an estimated $X at export prices in 2021. Overall, however, production continued to show strong expansion momentum. The fastest growth rate in 2016, an increase of X% year-on-year. During the period under review, production peaked at $X in 2020 before contracting the following year.
In 2021, overseas shipments of lifting equipment will increase by X% to X units, the fourth consecutive year of growth after two years of decline. Exports continued to grow significantly during the period under review. The most significant growth rate occurred in 2018, which was an X% increase compared to the previous year. Exports peaked in 2021 and are expected to keep growing in the short term.
Lifting equipment exports to rise rapidly to $X in 2021 in value terms. Overall, exports have grown strongly. The most significant growth rate occurred in 2018, when exports increased by X% over the previous year. During the period under review, exports peaked in 2021 and are expected to maintain growth in the short term.
Venezuela (X units) is the main destination for Indonesian lifting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Venezuela exceeded exports to the second largest destination, Bangladesh (X units) by more than ten times.
From 2012 to 2021, the average annual growth rate of shipments to Venezuela is +X%. Exports to other major destinations recorded the following average annual export growth rates: Bangladesh (X% per annum) and Malaysia (+X% per annum).
In terms of value, Venezuela (USD X) emerged as the main foreign market for Indonesian lifting equipment exports, accounting for X% of total exports. In second place is Bangladesh ($X) with X% of total exports.
From 2012 to 2021, the value to Venezuela will grow at an average annual rate of +X%. Exports to other major destinations recorded the following average annual export growth rates: Bangladesh (X% per annum) and Malaysia (+X% per annum).
In 2021, foreign supply of lifting equipment fell -X% to X units, the third consecutive year of decline after two consecutive years of growth. Overall, imports are on a sharp downward trend. The most significant growth rate occurred in 2015, which was an X% increase compared to the previous year. During the period under review, imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at low levels.
In value terms, hoisting equipment imports have shrunk significantly to $X in 2021. Imports fell sharply during the period under review. The fastest growth rate in 2018, with a year-on-year increase of X%. As a result, imports peaked at X dollars. Import growth momentum failed to recover from 2019 to 2021.
In 2021, China (X units) is Indonesia's largest supplier of lifting equipment, accounting for X% of total imports. In addition, imports of hoisting equipment from China were twice as high as the number recorded by the second largest supplier, Japan (X units). In third place is Germany (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of sales from China is -X%. The average annual growth rates of imports for the remaining supplier countries are as follows: Japan (-X% per annum) and Germany (-X% per annum).
By value, Indonesia's largest suppliers of lifting equipment are Japan ($X), China ($X) and Germany ($X), accounting for X% of total imports. This was followed by Italy, the United States, Singapore and Brazil, which were the major suppliers with the highest import value growth of X%, respectively, with a CAGR of +X%. During the review period, purchases by other leaders experienced a more modest rate of increase.
By value, Indonesia's largest suppliers of lifting equipment are Japan, China and Germany, which together account for 77% of total imports. Italy, the United States, Singapore and Brazil are slightly behind, with a combined share of 16%.
In terms of value, Venezuela emerged as the main foreign market for Indonesian lifting equipment exports, accounting for 86% of total exports. In second place is Bangladesh, which accounted for 8.6% of total exports.
The average export price of hoisting equipment in 2021 is US$1,675/unit, a year-on-year decrease of -34.4%.
The average import price of hoisting equipment in 2021 is $1,744 per unit, basically unchanged from the previous year.
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