The Japanese lifting equipment market will grow X% to X dollars in 2021, rising for the second year in a row after three consecutive years of declines. From 2012 to 2021, market capitalization has grown at an average annual rate of +X%; however, the trend pattern indicates that some notable fluctuations were recorded throughout the analysis period. During the period under review, the market hit an all-time high in 2021 and is likely to see steady growth in the near future.
In value terms, hoisting equipment production fell to an estimated $X at export prices in 2021. Overall, production continued to show moderate declines. The fastest growth was in 2015, with an X% increase in production. During the period under review, production hit an all-time high of $X in 2016; however, from 2017 to 2021, production has remained low.
Japan’s lifting equipment export scale
In 2021, after two years of growth, overseas shipments of lifting equipment dropped significantly, with shipments down -X% to X units. Overall, exports continued to show a sharp decline. The rate of growth was most pronounced in 2019, with an X% increase over the previous year. During the period under review, exports reached a maximum of X units in 2012; however, from 2013 to 2021, exports remained at a low level.
Lifting equipment exports soar to $X in 2021 by value. During the period under review, exports suffered serious setbacks. 2015 saw the fastest growth, with exports increasing by X% year-on-year. During the period under review, exports peaked at $X in 2012; however, from 2013 to 2021, exports were at lower levels.
Morocco (X units) is the main destination for Japanese lifting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Morocco exceeded five times that to the second largest destination, Taiwan (China) (X units). In third place is China (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of cargo traffic to Morocco has been relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Taiwan (China) (-X% per annum) and China (+X% per annum).
By value, the largest markets for hoisting equipment exports from Japan are China ($X), Morocco ($X), and the Philippines ($X), which together account for X% of total exports. Morocco, with a CAGR of +X%, had the highest growth rate in terms of export value among the major destination countries during the period under review, while other leaders saw more modest growth in shipments.
Import scale of hoisting equipment in Japan
In 2021, overseas purchases of lifting equipment increased by X% to X units for the first time since 2018, ending a two-year downward trend. Imports continued to show strong growth during the period under review. Therefore, imports have peaked and may continue to grow in the short term.
Lifting equipment imports surge to $X by value in 2021. Overall, imports have grown significantly. Therefore, imports have peaked and may continue to grow in the short term.
In 2021, China (X units) is Japan’s largest supplier of lifting equipment, accounting for X% of total imports. In addition, lifting equipment imported from China was more than ten times higher than the number recorded by the second largest supplier, South Korea (X units).
From 2012 to 2021, the average annual growth rate of Chinese exports is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: South Korea (+X% per annum) and Singapore (+X% per annum).
China (USD X) is Japan’s largest supplier of lifting equipment by value, accounting for X% of total imports. In second place is South Korea ($X) with X% of total imports.
From 2012 to 2021, the average annual growth rate of value from China reaches +X%. The average annual growth rates of imports by the remaining suppliers are as follows: South Korea (+X% per annum) and Singapore (+X% per annum)
Statistics of various crane suppliers in Japan
China is Japan’s largest supplier of lifting equipment by value, accounting for 81% of total imports. In second place was South Korea, which accounted for 6.1% of total imports.
The biggest markets for Japanese lifting equipment exports by value are China, Morocco and the Philippines, which together account for 91% of total exports.
The average export price of hoisting equipment in 2021 will be US$10,859 per unit, a year-on-year increase of 111%.
The average import price of lifting equipment in 2021 is $2,632 per unit, up 19% from the previous year.
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