Thailand’s
lifting equipment market soars to $X in 2021, growing by X% year-on-year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). Overall, consumption showed a strong growth trend. Lifting equipment consumption peaked at $X in 2015; however, consumption is at a lower level from 2016 to 2021.
Thailand’s lifting equipment export scale
In 2021, Thailand’s hoisting equipment exports will soar to X units, a year-on-year increase of X%. Overall, exports showed strong growth. Exports peaked at X units in 2016; however, exports have remained low from 2017 to 2021.
Lifting equipment exports soar to $X in 2021 by value. During the period under review, there was a significant increase in exports. The most significant growth rate occurred in 2015, which was an X% increase compared to the previous year. As a result, exports peaked at X dollars. From 2016 to 2021, the export growth rate will remain at a low level.
Japan (X units) was the main destination for Thailand’s hoisting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Japan were four times higher than to Burkina Faso, the second largest destination (X units). The Lao People’s Democratic Republic (X units) ranked third with an X% share of total exports.
From 2012 to 2021, the average annual growth rate of shipments to Japan is +X%. Exports to other major destinations recorded the following average annual export growth rates: Burkina Faso (X% per annum) and Lao People’s Democratic Republic (+X% per annum).
The largest markets for hoisting equipment exports from Thailand by value are the Lao People’s Democratic Republic (USD X), Japan (USD X), and Cambodia (USD X), which together account for X% of total exports.
Among the major destination countries, Japan, with a CAGR of +X%, had the highest export value growth rate during the period under review, while the other leading countries recorded a more moderate growth rate in shipments.
Import scale of lifting equipment in Thailand
In 2021, Thailand’s imports of lifting equipment surged to X units, an increase of X% over 2020. During the period under review, there was a resilient growth in import volume. In 2014, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports reached a maximum of X units in 2015; however, from 2016 to 2021, imports have remained low.
Lifting equipment imports surged to $X in 2021 by value. Overall, imports have grown significantly. During the period under review, imports reached an all-time high of $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.
In 2021,
Malaysia (X units) is the largest lifting equipment supplier in Thailand, accounting for X% of total imports. In addition, imports of lifting equipment from Malaysia were more than ten times higher than the number recorded by the second largest supplier, China (X units). Japan ranks third (X units) with an X% share.
From 2012 to 2021, the average annual growth rate from Malaysia is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (-X% per annum) and Japan (-X% per annum). Malaysia (USD X) is the largest lifting equipment supplier to Thailand by value, accounting for X% of total imports. In second place is China ($X) with X% of total imports. It is followed by Spain with an X% share.
From 2012 to 2021, the average annual value growth in Malaysia is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (-X% per annum) and Spain (+X% per annum).
Statistics of various crane suppliers in Thailand
Malaysia is Thailand’s largest supplier of lifting equipment by value, accounting for 84% of total imports. In second place is China, which accounts for 3.6% of total imports. It is followed by Spain with a share of 3.3%.
The largest markets for Thailand’s lifting equipment exports by value are the Lao People’s Democratic Republic, Japan and Cambodia, which together account for 60% of total exports.
The average export price of hoisting equipment in 2021 will be US$2,938/unit, a year-on-year decrease of -31.5%.
The average import price of lifting equipment in 2021 is $3,795 per unit, up 37% from the previous year.
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Analysis of the lifting equipment market in Thailand in 2022
