The Vietnamese crane market surged to $X in 2020, up X% year-on-year. Overall, however, there has been a modest expansion in consumption. The fastest growth rate in 2012, an increase of X% year-on-year. During the period under review, the market peaked at $X in 2018; however, from 2019 to 2020, consumption was at lower levels.
In 2020 crane production soared to X dollars by value (estimated at export prices). However, during the period under review, production continued to grow significantly. The most significant growth rate was recorded in 2017, with a year-on-year increase of X%. Crane production peaked at $X in 2018; however, production has remained low from 2019 to 2020.
Vietnam Crane Export Scale
After two years of growth, overseas shipments of cranes, mobile cranes fell -X% to X units in 2020. But overall, exports recorded modest growth. 2011 saw the fastest growth, with an X% increase over the previous year. As a result, exports peaked at X units. From 2012 to 2020, the export growth rate remained at a low level.
In value terms, crane exports fell significantly to X dollars in 2020. However, during the period under review, exports showed resilient growth. The most significant growth rate occurred in 2010, when exports increased by X% over the previous year. Exports peaked at $X in 2011; however, from 2012 to 2020, exports have remained low.
Singapore (X units) is the main destination for Vietnam’s crane exports, accounting for X% of total exports. In addition, crane exports to Singapore exceeded three times that to the second largest destination, Taiwan (China) (X units). India (X units) ranked third with X% of total exports. From 2007 to 2020, the average annual growth rate of cargo traffic in Singapore totaled +X%. Exports to other major destinations recorded the following average annual export growth rates: Taiwan (China) (+X% per annum) and India (-X% per annum).
By value, the largest markets for Vietnamese crane exports are Singapore (USD X), Cambodia (USD X) and Taiwan (China) (USD X), which together account for X% of total exports. This is followed by China, the US, South Africa, India, the United Arab Emirates, Italy, Russia, Germany, Sri Lanka and South Korea, which together account for another X major destination countries, with Italy (+X %/year) in The highest growth rate was seen in terms of export value during the period under review, while the other leaders experienced more modest growth in shipments.
Vietnam Crane Import Scale
After four years of decline, the supply of cranes, mobile crane frames from abroad increased by X% to X units in 2020. Overall, however, imports fell sharply. The most significant growth rate occurred in 2014, with an X% year-over-year increase. Imports peaked at X units in 2015; however, from 2016 to 2020, imports have remained low.
In 2020, crane imports dropped significantly to $X in value terms. During the period under review, however, there was a marked drop in imports. In 2014, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports peaked at $X in 2015; however, from 2016 to 2020, imports have been at lower levels.
In 2020, Japan (X units) was the largest crane supplier to Vietnam, accounting for X% of total imports. In addition, the number of cranes imported from Japan is three times that of the second largest supplier, China (X units). Germany (X units) ranks third in terms of total imports with an X% share. From 2007 to 2020, the average annual growth rate of sales in Japan totaled -X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (-X% per annum) and Germany (-X% per annum).
By value, the largest crane suppliers in Vietnam are China (USD X), Japan (USD X) and Germany (USD X), which together account for X% of total imports. This was followed by Malaysia and Sweden, which saw the highest growth in import value among the major suppliers during the period under review, while other leaders saw more modest increases in the pace of purchases.
Statistics of various crane suppliers in Vietnam
Vietnam’s largest crane suppliers by value are China, Japan and Germany, which together account for 84% of total imports. Malaysia and Sweden were slightly behind, with a combined share of 5.1%.
In value terms, Singapore, Cambodia and Taiwan are the largest markets for Vietnamese cranes exported globally, accounting for 50% of total exports. This is followed by China, the United States, South Africa, India, the United Arab Emirates, Italy, Russia, Germany, Sri Lanka and South Korea, which together account for 35 percent.
The average export price of cranes in 2020 was US$8,916 per unit, an increase of 40% over the previous year.
In 2020, the average import price of cranes was USD 10,832 per unit, a decrease of -19.8% from the previous year.
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