Asia: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Asia

In 2023, the Asian overhead travelling crane market decreased by X% to $X, falling for the fourth year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Overhead Travelling Crane Production in Asia

In value terms, overhead travelling crane production declined slightly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Overhead Travelling Crane Exports

Exports in Asia

In 2023, shipments abroad of overhead travelling cranes on fixed support increased by X% to X units, rising for the third year in a row after two years of decline. Overall, exports recorded a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, overhead travelling crane exports skyrocketed to $X in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. X% of total exports in 2023. It was distantly followed by Turkey (X units), comprising a X% share of total exports. India (X units) and Malaysia (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the overhead travelling cranes on fixed support exports, with a CAGR of X% from 2012 to 2023. At the same time, India (X%), Malaysia (X%) and Turkey (X%) displayed positive paces of growth. China (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest overhead travelling crane supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, waning by X% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Overhead Travelling Crane Imports

Imports in Asia

In 2023, imports of overhead travelling cranes on fixed support in Asia dropped to X units, reducing by X% against the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, overhead travelling crane imports rose slightly to $X in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of overhead travelling cranes on fixed support, namely Indonesia, India and Thailand, represented more than third of total import. China (X units) ranks next in terms of the total imports with a X% share, followed by Bangladesh (X%) and Uzbekistan (X%). Kazakhstan (X units), Qatar (X units), Singapore (X units), Iran (X units), the United Arab Emirates (X units), South Korea (X units) and Iraq (X units) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest overhead travelling crane importing markets in Asia were India ($X), Indonesia ($X) and Uzbekistan ($X), together comprising X% of total imports.

In terms of the main importing countries, Uzbekistan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform