Lithuania: Crane Market 2024

Crane Market Size in Lithuania

The Lithuanian crane market skyrocketed to $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, recorded a noticeable downturn. Crane consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Crane Production in Lithuania

In value terms, crane production rose significantly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a modest expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Crane Exports

Exports from Lithuania

In 2023, after two years of decline, there was significant growth in shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, when their volume increased by X% to X units. Overall, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, crane exports contracted to $X in 2023. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X units) was the main destination for crane exports from Lithuania, accounting for a X% share of total exports. Moreover, crane exports to Turkey exceeded the volume sent to the second major destination, Sweden (X units), twofold. The third position in this ranking was taken by Norway (X units), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Turkey stood at X.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Norway (X% per year).

In value terms, Latvia ($X), Norway ($X) and Sweden ($X) constituted the largest markets for crane exported from Lithuania worldwide, together comprising X% of total exports. Turkey, Estonia, Kazakhstan, Kyrgyzstan, Poland, the Netherlands, Spain, Ukraine and Russia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Turkey, with a CAGR of X.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average crane export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Lithuania

Crane imports into Lithuania rose remarkably to X units in 2023, surging by X% on the previous year. Overall, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, crane imports surged to $X in 2023. Over the period under review, imports saw a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Germany (X units) constituted the largest crane supplier to Lithuania, accounting for a X% share of total imports. Moreover, crane imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X units), fourfold. The third position in this ranking was taken by Sweden (X units), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and Sweden (X% per year).

In value terms, the largest crane suppliers to Lithuania were Germany ($X), Austria ($X) and Hungary ($X), together accounting for X% of total imports. Poland, Finland, Sweden, the Netherlands, Italy, Latvia, France, Spain, Belgium and the UK lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average crane import price amounted to $X per unit, growing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform