The Malaysian lifting equipment market fell to $X in 2021, down -X% from the previous year. During the period under review, consumption decreased slightly. During the period under review, the market peaked at $X in 2020 before falling the following year.
In value terms, hoisting equipment production fell to an estimated $X at export prices in 2021. Overall, production recorded a marked decline. The most significant growth rate occurred in 2018, with an increase of X%. During the period under review, production hit an all-time high of $X in 2012; however, from 2013 to 2021, production failed to regain momentum.
Malaysia's hoisting equipment exports fell to X units in 2021, down -X% compared to 2020 figures. Overall, exports continue to show a deep decline. The fastest growth in 2014 was X% over the previous year. As a result, exports peaked at X units. From 2015 to 2021, the export growth rate will remain at a low level.
In value terms, hoisting equipment exports fell to X dollars in 2021. Overall, exports fell sharply. The most significant growth rate occurred in 2014, with an increase of X%. As a result, exports peaked at X dollars. From 2015 to 2021, the export growth rate will remain at a low level.
Indonesia (X units) is the main destination for Malaysia's lifting equipment exports, accounting for X% of total exports. In addition, the export volume of lifting equipment to Indonesia is four times that to Singapore (X units), the second largest destination. In third place is South Korea (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of shipments to Indonesia is +X%. Exports to other major destinations recorded the following average annual export growth rates: Singapore (-X% per annum) and South Korea (+X% per annum).
By value, the largest markets for lifting equipment exports from Malaysia are Indonesia ($X), Singapore ($X), and the United Kingdom ($X), which together account for X% of total exports. Indonesia, with a CAGR of +X%, experienced the highest growth in export value among the top destination countries during the review period, while shipments from other leading countries declined.
In 2021, the number of hoisting equipment imported by Malaysia surged to X units, an increase of X% year-on-year. Overall, however, imports have fallen sharply. The fastest growth in 2019, an increase of X%. During the period under review, imports peaked at X units in 2012; however, from 2013 to 2021, imports have remained low.
In value terms, hoisting equipment imports fell sharply to $X in 2021. But overall, there has been a serious setback in imports. The growth rate was most pronounced in 2019, when imports rose by X%. During the period under review, imports reached a record $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.
In 2021, China (X units) is the largest lifting equipment supplier in Malaysia, accounting for X% of total imports. In addition, imports of lifting equipment from China were twice as high as the number recorded by the second largest supplier, Denmark (X units). Singapore (X units) ranks third in terms of total imports with an X% share.
From 2012 to 2021, the average annual growth rate of Chinese exports totals +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Denmark (+X% per annum) and Singapore (+X% per annum).
By value, Malaysia's largest suppliers of lifting equipment are China (USD X), Singapore (USD X) and Hong Kong SAR (USD X), which together account for X% of total imports. This was followed by Denmark and the United States, which had a +X% CAGR among the major suppliers during the period under review, with the highest growth in import value, while other leaders' purchases experienced more moderate growth rate.
By value, Malaysia's largest suppliers of lifting equipment are China, Singapore and Hong Kong SAR, which together account for 75% of total imports. Denmark and the United States are slightly behind, with a combined share of 17%.
The biggest markets for Malaysian lifting equipment exports by value are Indonesia, Singapore and the UK, which account for 84% of total exports.
The average export price of lifting equipment in 2021 is $5,874 per unit, the same as the previous year.
The average import price of hoisting equipment in 2021 is US$3,014/unit, a year-on-year decrease of -76.6%.
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