In 2021, the New Zealand lifting equipment market fell -X% to $X for the first time since 2018, ending a two-year uptrend. Overall, however, consumption continued to show moderate growth. As a result, consumption peaked at X dollars before falling significantly the following year.
In 2021, overseas shipments of lifting equipment finally picked up, reaching X units for the first time since 2017, ending a three-year downward trend. Overall, however, exports continued to show a sharp decline. The fastest growth in 2016 was X%. During the period under review, exports reached a maximum of X units in 2017; however, from 2018 to 2021, exports have been at a lower level.
In terms of value, hoisting equipment exports surged to $X in 2021. But overall, exports continued to decline significantly. The most significant growth rate occurred in 2016, with an increase of X%. As a result, exports peaked at X dollars. From 2017 to 2021, the growth rate of exports will remain at a low level.
The UAE (unit X), Australia (unit X) and Germany (unit X) are the main destinations for New Zealand's hoisting equipment exports.
From 2012 to 2021, the largest increase was in Australia (+X% CAGR), while the other leaders showed a mixed trend in shipments. Australia ($X) remains New Zealand's leading foreign market for lifting equipment exports by value, accounting for X% of total exports. In second place is the United Arab Emirates ($X) with X% of total exports.
Average annual growth in value to Australia from 2012 to 2021 totals +X%. The average annual export growth rates for exports to other major destinations are as follows: United Arab Emirates (+X% per annum) and Germany (-X% per annum).
In 2021, approximately X lifting equipment will be imported into New Zealand; -X% less than the previous year. However, imports showed strong growth during the period under review. The most significant growth rate occurred in 2020, with an increase of X%. During the period under review, imports reached a maximum of X units in 2016; however, from 2017 to 2021, imports remained at a low level.
Imports of hoisting equipment contract sharply to $X in 2021 in value terms. But overall, imports rose slightly. The most significant growth rate occurred in 2020, when imports increased by X%. During the period under review, 2017 imports reached a maximum value of X dollars; however, from 2018 to 2021, imports failed to regain momentum.
In 2021, China (X units) is New Zealand's largest supplier of lifting equipment, accounting for X% of total imports. In addition, imports of lifting equipment from China were five times higher than the number recorded by the second largest supplier, Australia (X units). Spain (X units) ranks third in terms of total imports with a share of X%.
From 2012 to 2021, the average annual growth rate of Chinese exports totals +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Australia (+X% per annum) and Spain (+X% per annum).
By value, New Zealand's largest suppliers of lifting equipment are China ($X), Italy ($X) and Australia ($X), accounting for X% of total imports. Italy, with a CAGR of +X%, had the highest import value growth rate over the period under review in terms of major suppliers, while other leaders saw more modest growth in purchases.
New Zealand's largest suppliers of lifting equipment by value are China, Italy and Australia, which together account for 76% of total imports.
Australia remains New Zealand's leading foreign market for lifting equipment exports by value, accounting for 90% of total exports. In second place is the United Arab Emirates, which accounted for 8.1% of total exports.
The average export price of hoisting equipment in 2021 will be US$21,156 per unit, a year-on-year increase of 147%.
The average import price of hoisting equipment in 2021 is US$1,190/unit, a year-on-year decrease of -28.4%.
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