From January to June 2021, the trade volume between China and Malaysia was US$81.79 billion, a year-on-year increase of 43.9%. Among them, China's exports to Malaysia were US$33.95 billion, a year-on-year increase of 48.5%; imports from Malaysia were US$47.84 billion, a year-on-year increase of 40.2%.
From January to June 2021, the value of newly signed engineering contracts by Chinese companies in Malaysia was US$5.16 billion, a year-on-year increase of 46.7%; the completed turnover was US$2.19 billion, a year-on-year increase of 0.1%.
Regarding the development trend of Malaysia's economy and industry, Dongqi Lifting expressed optimism for Malaysia's economy in 2022. Southeast Asia is close to China, and it is very convenient and quick to communicate in terms of economy and culture. As a Chinese crane service provider, Dongqi Crane is very happy to be able to participate in the national construction of Malaysia. In the past 2021, Dongqi Crane has reached a total of 37 crane project orders with its partners in Malaysia. Dongqi Crane has a clear understanding of how to provide better crane products and crane services. If you want to open a larger market, you need to understand the crane market structure in Malaysia. This article will infer how the Malaysian crane market will develop in 2022 based on the market size and sales data of overhead cranes in Malaysia
Before we start discussing the aerial crane market in Malaysian, we have a few small questions that need to be answered first. Let’s take a look
The Malaysian overhead crane market has finally risen to $X in 2020 after two years of decline. Overall, however, there was a moderate increase in consumption. In 2011, the growth rate was the fastest, with an increase of X% year-on-year. Overhead crane consumption peaked at $X in 2012; however, from 2013 to 2020, consumption failed to regain momentum.
By value, the production of overhead cranes soared to X dollars in 2020, estimated at export prices. Gross output grew at an average annual rate of +X% from 2007-2020; however, the trend pattern suggests that some notable fluctuations were recorded throughout the analysis period. The most significant growth rate occurred in 2018, when production increased by X% over the previous year. As a result, production peaked at X dollars. Production growth failed to regain momentum in 2019-20.
Malaysia's overhead crane exports surged to X units in 2020, an increase of X% compared to 2019 figures. During the period under review, however, there was a marked decline in exports. In 2014, the growth rate was the fastest, with an increase of X% year-on-year. Exports peaked at X units in 2008; however, from 2009 to 2020, exports failed to regain momentum.
Overhead crane exports surged to $X in 2020 by value. But overall, exports continued to show measurable growth. The most significant growth rate occurred in 2016, when exports increased by X% year-on-year. During the period under review, exports peaked at $X in 2017; however, from 2018 to 2020, exports failed to regain momentum.
Singapore (X units) is the main destination for Malaysia's overhead crane exports, accounting for X% of total exports. In addition, exports of overhead cranes to Singapore are four times higher than exports to the second largest destination, Russia (X units). Indonesia (X units) ranks third in terms of total exports with a share of X%. From 2007 to 2020, the average annual growth rate of cargo traffic to Singapore was +X%. Exports to other major destinations recorded the following average annual export growth rates: Russia (+X% per annum) and Indonesia (+X% per annum).
In value terms, Russia ($X) emerged as the leading foreign market for Malaysia's overhead crane exports, accounting for X% of total exports. In second place is Singapore ($X) with X% of total exports. It was followed by Indonesia with an X% share. From 2007 to 2020, the average annual growth rate of the value to Russia reached +X%. Exports to other major destinations recorded the following average annual export growth rates: Singapore (+X% per annum) and Indonesia (+X% per annum).
In 2020, overseas purchases of fixed-support overhead cranes finally picked up, reaching X units for the first time since 2017, ending a two-year downward trend. Overall, imports increased significantly. The most significant growth rate occurred in 2014, with an X% year-over-year increase. Imports peaked at X units in 2012; however, from 2013 to 2020, imports decreased slightly.
In value terms, 2020 Overhead Crane Imports Dropped Rapidly to $X. Overall, import growth was strong. The growth rate was most notable in 2014, when imports increased by X% over the previous year. During the period under review, imports reached a record $X in 2012; however, from 2013 to 2020, imports failed to regain momentum.
In 2020, China (X units) was the main supplier of overhead cranes in Malaysia, accounting for about X% of total imports. From 2007 to 2020, the average annual growth rate of sales from China reached +X%.
China (USD X) is the largest supplier of overhead cranes in Malaysia by value. From 2007 to 2020, the average annual growth rate of value from China is +X%.
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