The Vietnamese
lifting equipment market shrinks to X USD in 2021, down -X% from the previous year. Overall, consumption has fallen sharply. Lifting equipment consumption peaked at $X in 2012; however, consumption is at a lower level from 2013 to 2021.
In value terms, hoisting equipment production fell to an estimated $X at export prices in 2021. Overall, production saw a severe decline. The most significant growth rate occurred in 2018, when production increased by X%. Lifting equipment production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.
Vietnam’s hoisting equipment export scale
After two years of growth, overseas shipments of lifting equipment fell -X% to X units in 2021. During the period under review, there was a marked decline in exports. The most significant growth rate occurred in 2019, with an X% increase compared to the previous year. Exports peaked at X units in 2013; however, exports have remained low from 2014 to 2021.
Lifting equipment exports contracted to X USD in 2021 in value terms. Overall, exports fell slightly. Growth was the fastest in 2019, up X%. During the period under review, exports peaked at $X in 2020 before shrinking the following year.
India (X units), the United States (X units) and South Africa (X units) were the main destinations for
Vietnam’s hoisting equipment exports, accounting for X% of total exports. Italy, Russia,
Germany, Netherlands, Cambodia, Turkey and Norway are a little behind, adding a further X between 2012 and 2021, with the largest increase being Norway (+X% CAGR), while the other leaders’ Shipments experienced a more modest growth rate.
In value terms, India ($X), the United States ($X) and South Africa ($X) appear to be the largest markets for Vietnam’s hoisting equipment exports globally, together accounting for X% of total exports. This is followed by Russia, Italy, the Netherlands, Germany, Cambodia, Turkey and Norway, with a CAGR of +X% and the highest growth rate in terms of export value, among the main destination countries during the review period , other leaders saw more modest growth in shipments.
Import Scale of Hoisting Equipment in Vietnam
In 2021, foreign supply of lifting equipment increased by X% to X units for the first time since 2017, ending a three-year downward trend. Overall, imports increased significantly. 2017 saw the fastest growth with an X% increase. As a result, imports peaked at X units. Import growth will remain low between 2018 and 2021.
Lifting equipment imports rose sharply to $X in 2021 in value terms. Overall, imports continued to increase significantly. The growth rate was most pronounced in 2014, with an X% increase. During the period under review, imports reached a maximum value of X dollars in 2017; however, imports decreased slightly from 2018 to 2021.
China (X units), Thailand (X units) and Japan (X units) are the main suppliers of lifting equipment imports to Vietnam, accounting for X% of total imports. Germany, South Korea, Italy and Spain lag behind, with Spain seeing the largest increase in purchases between 2012 and 2021 (+X% CAGR), while other leaders have seen more modest growth in imports.
By value, Vietnam’s largest suppliers of lifting equipment are China (USD X), Thailand (USD X) and Japan (USD X), which together account for X% of total imports. This is followed by Germany, South Korea, Italy and Spain, which together account for another X major supplier countries, with Spain registering a CAGR of +X% and the highest growth rate in terms of import value, surpassing that during the review period. , procurement by other leaders experienced a more modest pace of growth.
Statistics of various crane suppliers in Vietnam
By value, Vietnam’s largest suppliers of lifting equipment are China, Thailand and Japan, which together account for 51% of total imports. It is followed by Germany, South Korea, Italy and Spain, which together account for 45%.
By value, the largest markets for Vietnam’s hoisting equipment exports are India, the United States and South Africa, which together account for 39 percent of total exports. This is followed by Russia, Italy, the Netherlands, Germany, Cambodia, Turkey and Norway, which together account for 48%.
The average export price of lifting equipment in 2021 is $4,233 per unit, unchanged from the previous year.
The average import price of hoisting equipment in 2021 will be US$3,092 per unit, an increase of 1.8% over the previous year.
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Analysis of the lifting equipment market in Vietnam in 2022