Eastern Asia: Truck Crane Market 2024

Truck Crane Market Size in Eastern Asia

The East Asian truck crane market skyrocketed to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption showed a tangible expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Truck Crane Production in Eastern Asia

In value terms, truck crane production shrank to $X in 2023 estimated in export price. Overall, production continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Truck Crane Exports

Exports in Eastern Asia

In 2023, after two years of growth, there was significant decline in overseas shipments of truck cranes, when their volume decreased by X% to X units. In general, exports showed a abrupt descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2022, and then plummeted in the following year.

In value terms, truck crane exports soared to $X in 2023. Overall, exports, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

Exports by Country

In 2023, China (X units) was the major exporter of truck cranes, creating X% of total exports. It was distantly followed by South Korea (X units), mixing up a X% share of total exports. Japan (X units) took a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to truck crane exports from China stood at X%. South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while China and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, China ($X) remains the largest truck crane supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

In China, truck crane exports increased at 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: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price recorded a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Truck Crane Imports

Imports in Eastern Asia

In 2023, supplies from abroad of truck cranes decreased by X% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by X%. The volume of import peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, truck crane imports reached $X in 2023. Overall, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X units) and Taiwan (Chinese) (X units) prevails in imports structure, together mixing up X% of total imports. It was distantly followed by Hong Kong SAR (X units), achieving a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, South Korea ($X) constitutes the largest market for imported truck cranes in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in South Korea was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2023, jumping 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.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform