The East Asian crane market declined slightly to $X in 2020, shrinking by -X% from the previous year. Overall, consumption continued to show a slight downward trend. The fastest growth in 2009, an increase of X% over the previous year. As a result, spending reached the highest level of X dollars. From 2010 to 2020, the market growth rate remained at a low level.
In value terms, 2020 crane production is estimated to contract to $X at export prices. During the period under review, however, production declined slightly. In 2008, the growth rate was the fastest, and the output increased by X% over the previous year. During the period under review, production peaked at $X in 2009; however, from 2010 to 2020, production remained low.
The country with the largest crane production is China (X units), accounting for X% of the total. In addition, China's crane output exceeded the number recorded by the second largest producer, South Korea (X units) by more than ten times. Japan takes third place (X units) with an X% share.
From 2007 to 2020, average annual sales growth in China was relatively modest. The average annual production growth rates for the remaining producing countries are as follows: South Korea (-X% per year) and Japan (+X% per year).
As a Chinese crane supplier, Dongqi Crane has few orders in the crane market in Japan and South Korea, which have strong manufacturing industries. In China's domestic market, Dongqi Crane is located in Changyuan County, Henan Province, the hometown of cranes in China, providing customers with various types of crane products, including overhead cranes, gantry cranes, jib cranes, and winches. Rich experience in crane application and design in complex environments
China is the main exporter, exporting about X units, accounting for X% of the total export volume. Japan (X units) accounted for X% of total exports (in tons), ranking second, followed by South Korea (X%). China is also the fastest growing exporter of cranes with a CAGR of +X% from 2007 to 2020. Japan (-X%) and South Korea (-X%) showed a downward trend over the same period. China (+X pp) has significantly strengthened its position in total exports, while the shares of South Korea and Japan have declined by -X% and -X%, respectively, from 2007 to 2020.
China ($X) remains the largest crane supplier in East Asia by value, accounting for X% of total exports. In second place is Japan ($X) with X% of total exports. In China, crane exports remained relatively stable during 2007-2020. The average annual export growth rates for the remaining exporting countries are as follows: Japan (-X% per year) and South Korea (-X% per year).
In 2020, the export price of East Asia cranes is X dollars per unit, which is -X% lower than the previous year. During the period under review, export prices fell sharply. In 2008, the growth rate was the fastest, with an increase of X% year-on-year. As a result, export prices peaked at X dollars per unit. From 2009 to 2020, the increase in export prices remained at a low level. There are significant differences in average prices between major exporting countries. In 2020, the country with the highest price is Japan ($X per unit), while China ($X per unit) is the lowest. From 2007 to 2020, South Korea achieved the most significant price growth, while other leaders saw declines in export price figures
Cranes purchased abroad decreased -X% to X units in 2020, the fifth consecutive year of decline after three years of growth. In general, imports fell significantly. In 2014, the growth rate was the fastest, with an increase of X% year-on-year. Imports peaked at X units in 2015; however, from 2016 to 2020, imports failed to regain momentum.
In 2020, crane imports fell sharply to $X in value terms. Overall, there was a marked decline in imports. The fastest growth in 2008, an increase of X% over the previous year. During the period under review, imports peaked at $X in 2015; however, from 2016 to 2020, import volumes have remained low.
In 2020, South Korea (unit X), Japan (unit X), China (unit X), the Democratic People's Republic of Korea (unit X), and Hong Kong SAR (unit X) followed as the top importers of cranes combined X% of total imports. Macau SAR (Unit X) is far behind the leader.
From 2007 to 2020, the Democratic People's Republic of Korea saw the largest increase in purchases, while other leaders saw import declines.
The largest crane import markets in East Asia by value are South Korea ($X), Japan ($X) and China ($X), which together account for X% of total imports. In terms of major importing countries, Japan recorded the highest growth rate in import value during the period under review, while purchases from other countries showed different trends in import data.
China ($2.6B) remains the largest crane supplier in East Asia by value, accounting for 74% of total exports. In second place was Japan ($718 million), which accounted for 21% of total exports.
The largest crane import markets in East Asia by value were South Korea ($206 million), Japan ($151 million) and China ($122 million), which together accounted for 83% of total imports.
The export price of East Asian cranes in 2020 was USD 44,863 per unit, a decrease of -25.8% from the previous year.
In 2020, the import price of cranes in East Asia was US$83,687 per unit, a year-on-year increase of 2.1%.
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