Asia: Vehicle-Mounted Lifting Equipment Market 2024

Vehicle-Mounted Lifting Equipment Market Size in Asia

The Asian vehicle-mounted lifting equipment market expanded to $X in 2023, increasing by X% against the previous year. In general, consumption posted resilient growth. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Vehicle-Mounted Lifting Equipment Production in Asia

In value terms, vehicle-mounted lifting equipment production expanded notably to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a prominent increase. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Vehicle-Mounted Lifting Equipment Exports

Exports in Asia

In 2023, overseas shipments of lifting equipment designed for mounting on road vehicles increased by X% to X units, rising for the seventh year in a row after three years of decline. In general, exports showed slight growth. The pace of growth was the most pronounced in 2022 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in years to come.

In value terms, vehicle-mounted lifting equipment exports rose slightly to $X in 2023. Total exports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.

Exports by Country

South Korea (X units) and China (X units) represented roughly X% of total exports in 2023. Japan (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%) and Turkey (X%). Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Japan ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

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

Vehicle-Mounted Lifting Equipment Imports

Imports in Asia

In 2023, approx. X units of lifting equipment designed for mounting on road vehicles were imported in Asia; growing by X% on 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by X%. As a result, imports reached the peak of X units. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, vehicle-mounted lifting equipment imports reached $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Thailand (X units), distantly followed by Israel (X units), Georgia (X units), the United Arab Emirates (X units), Japan (X units) and Malaysia (X units) represented the key importers of lifting equipment designed for mounting on road vehicles, together mixing up X% of total imports. Taiwan (Chinese) (X units), the Philippines (X units), Turkey (X units), Singapore (X units), Hong Kong SAR (X units), Indonesia (X units) and India (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Georgia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vehicle-mounted lifting equipment importing markets in Asia were Israel ($X), Thailand ($X) and Japan ($X), together accounting for X% of total imports. The United Arab Emirates, Turkey, Taiwan (Chinese), Hong Kong SAR, Indonesia, Malaysia, Singapore, the Philippines, India and Georgia lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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 Hong Kong SAR ($X per unit), while Georgia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform