South-Eastern Asia: Lifting Equipment Market 2024

Lifting Equipment Market Size in South-Eastern Asia

The Southeast Asian lifting equipment market expanded sharply to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Lifting Equipment Production in South-Eastern Asia

In value terms, lifting equipment production rose significantly to $X in 2023 estimated in export price. The total production indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Lifting Equipment Exports

Exports in South-Eastern Asia

In 2023, after two years of growth, there was significant decline in shipments abroad of lifting equipment, when their volume decreased by X% to X units. In general, exports showed a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, lifting equipment exports soared to $X in 2023. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Singapore represented the main exporter of lifting equipment in South-Eastern Asia, with the volume of exports reaching X units, which was approx. X% of total exports in 2023. It was distantly followed by Vietnam (X units), constituting a X% share of total exports. Malaysia (X units), Thailand (X units) and Indonesia (X units) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to lifting equipment exports from Singapore stood at X%. At the same time, Indonesia (X%), Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Thailand (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Malaysia saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Singapore ($X) remains the largest lifting equipment supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

In Singapore, lifting equipment exports decreased by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per unit, growing by X% against the previous year. In general, the export price posted measured growth. 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 Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

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

Lifting Equipment Imports

Imports in South-Eastern Asia

In 2023, purchases abroad of lifting equipment decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports showed a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, lifting equipment imports shrank significantly to $X in 2023. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Singapore represented the main importer of lifting equipment in South-Eastern Asia, with the volume of imports amounting to X units, which was near X% of total imports in 2023. Indonesia (X units) held the second position in the ranking, distantly followed by Vietnam (X units), Myanmar (X units) and Thailand (X units). All these countries together took approx. X% share of total imports. The Philippines (X units) and Malaysia (X units) held a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

In terms of the main importing countries, Vietnam, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform