In 2021, the Hong Kong haulage and overhead crane market will grow by X% to $X for the first time since 2017, ending a three-year downward trend. Overall, consumption has grown significantly. During the period under review, the market peaked at $X in 2017; however, from 2018 to 2021, consumption was at a lower level.

Export Scale of Overhead Cranes and Gantry Cranes from Hong Kong SAR, China
In 2021, foreign shipments of transport cranes, gantry cranes and overhead cranes finally rose to X units after four years of decline. Overall, however, exports faced a sharp decline. During the period under review, exports hit a record high of X units in 2016; however, from 2017 to 2021, exports failed to regain momentum.

Exports of haulage and overhead cranes soar to $X in 2021 in value terms. During the review period, however, exports fell sharply. During the period under review, exports hit an all-time high of $X in 2012; however, from 2013 to 2021, exports remain at lower levels.

Nigeria (X units) was the leading destination for Hong Kong SAR exports of transport cranes and overhead cranes, accounting for X% of total exports. In addition, transport cranes and overhead cranes were exported to Nigeria three times as much as the second major destination, Indonesia (X units).

From 2012 to 2021, the average annual growth rate of exports to Nigeria totals -X%.

Indonesia ($X) and Nigeria ($X) are the world’s largest haulage and overhead crane markets by value exported from Hong Kong SAR. During the period under review, in terms of major destination countries, Nigeria recorded the highest growth rate in export value with a CAGR of -X%.

Import Scale of Overhead Cranes and Gantry Cranes in Hong Kong SAR, China
In 2021, overseas purchases of transport cranes, gantry cranes and overhead cranes increased by X% to X units for the first time since 2017, ending a three-year downward trend. Overall, imports have grown substantially. During the period under review, the import volume in 2017 hit a record high of X units; however, from 2018 to 2021, the import failed to regain momentum.

Imports of transport cranes and overhead cranes soar to $X by value in 2021. During the period under review, there was a marked decline in imports. During the period under review, imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In 2021, Indonesia (X units) is the largest supplier of transport cranes and overhead cranes in Hong Kong SAR, accounting for X% of total imports. In addition, transport cranes and overhead cranes imported from Indonesia were four times higher than the numbers recorded by the second largest supplier, Thailand (X units). Third in this ranking is Spain (X units) with an X% share.

From 2012 to 2021, Indonesia will have an average annual growth rate of +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Thailand (+X% per annum) and Spain (+X% per annum).

Mainland China ($X) is the largest supplier of transport cranes and overhead cranes in Hong Kong SAR by value, accounting for X% of total imports. In second place is Spain ($X) with X% of total imports. It was followed by Indonesia with an X% share.

From 2012 to 2021, the average annual growth rate of value from mainland China is -X%. The average annual growth rates of imports for the remaining suppliers are as follows: Spain (-X% per annum) and Indonesia (+X% per annum).

Statistics of various crane suppliers in Hong Kong SAR, China
Mainland China is the largest supplier of transport cranes and overhead cranes to Hong Kong SAR by value, accounting for 74% of total imports. In second place was Spain, which accounted for 3.6% of total imports. It is followed by Indonesia with a share of 1.8%.

By value, the largest markets for transport and overhead cranes exported from Hong Kong SAR were Indonesia (US$716) and Nigeria (US$384).

In 2021, the average export price of transport cranes and overhead cranes will be USD 6,688 each, a decrease of -44.2% from the previous year.

The average import price of transport and overhead cranes in 2021 is $3,521 per unit, an increase of 1.8% over the previous year

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Hong Kong SAR, China Market Study on Overhead Cranes and Gantry Cranes in 2022