The Australian lifting equipment market has contracted significantly to $X in 2021, a -X% decrease from the previous 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, there has been a marked decline in consumption. During the period under review, the market topped out at $X in 2020 before falling rapidly the following year.
After four years of decline, overseas shipments of lifting equipment increased by X% to X units in 2021. Overall, exports recorded moderate growth. The fastest growth was recorded in 2013, with an increase of X%. Exports peaked at X units in 2016; however, from 2017 to 2021, exports failed to regain momentum.
In value terms, hoisting equipment exports fell sharply to $X in 2021. Overall, exports have grown strongly. 2013 saw the fastest growth, with exports increasing by X% over the previous year. During the period under review, exports hit an all-time high of $X in 2016; however, from 2017 to 2021, exports have been at lower levels.
Saudi Arabia (X units) is the leading destination for Australian lifting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Saudi Arabia exceeded exports to New Zealand (X units), the second largest destination, by a factor of ten.
From 2012 to 2021, the average annual growth rate of exports to Saudi Arabia totals +X%. Exports to other major destinations recorded the following average annual export growth rates: New Zealand (-X% per annum) and Indonesia (-X% per annum).
New Zealand ($X) remains the leading foreign market for Australian lifting equipment exports by value, accounting for X% of total exports. In second place is Saudi Arabia ($X) with X% of total exports.
Average annual growth in value to New Zealand from 2012 to 2021 +X%. Exports to other major destinations recorded the following average annual export growth rates: Saudi Arabia (+X% per annum) and Indonesia (+X% per annum).
By 2021, Australia's imports of hoisting equipment were significantly reduced to X units, a -X% year-on-year decrease. Overall, however, imports saw strong growth. The fastest growth was recorded in 2018, with imports increasing by X% year-on-year. Imports peaked at X units in 2020 before falling sharply the following year.
In value terms, hoisting equipment imports fell slightly to $X in 2021. But overall, imports show elastic expansion. The growth rate was most pronounced in 2018, with an X% increase. Imports peaked at $X in 2020 and then declined the following year.
The United States (X units), China (X units) and Germany (X units) are the main suppliers of lifting equipment imports to Australia, accounting for X% of total imports.
From 2012 to 2021, among the major suppliers, Germany recorded the most significant growth in purchases (+X% CAGR), while the other leaders saw more modest growth in imports.
By value, Australia's largest suppliers of lifting equipment are China ($X), Germany ($X) and France ($X), accounting for X% of total imports. Among the major suppliers, Germany, with a CAGR of +X%, recorded the highest import value growth rate during the period under review, while procurement growth from other leading suppliers was more moderate.
Australia's largest suppliers of lifting equipment by value are China, Germany and France, accounting for 52% of total imports.
New Zealand remains the leading foreign market for Australian lifting equipment exports by value, accounting for 66% of total exports. In second place is Saudi Arabia, which accounts for 20% of total exports.
The average export price of hoisting equipment in 2021 is US$2,900/unit, a year-on-year decrease of -66.4%.
The average import price of lifting equipment in 2021 is US$721 per unit, an increase of 88% year-on-year.
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