In 2020, the Malaysian crane market grew X% to X USD, rising for the third consecutive year after two years of decline. Overall, however, consumption has shown a relatively flat trend pattern. During the period under review, the market peaked at $X in 2007; however, from 2008 to 2020, consumption has been at lower levels.
In value terms, the total production of cranes in 2020 is estimated at X USD at export prices. However, production continued to show a relatively flat trend pattern during the period under review. The fastest growth rate in 2015, an increase of X% year-on-year. During the period under review, production peaked at $X in 2013; however, from 2014 to 2020, production failed to regain momentum.
In 2020, approximately X cranes, mobile cranes were exported from Malaysia; -X% less than the previous year. Overall, exports fell slightly. The most significant growth rate occurred in 2013, with an X% year-on-year increase. As a result, exports peaked at X units. From 2014 to 2020, export growth remained low.
Crane exports fell sharply to $X in 2020 in value terms. Overall, exports have shrunk significantly. The growth rate was most pronounced in 2013, when exports increased by X% year-on-year. During the period under review, exports peaked at $X in 2015; however, from 2016 to 2020, exports were slightly lower.
Vietnam (X units) was the main destination for Malaysian crane exports, accounting for X% of total exports. In addition, the number of cranes exported to Vietnam exceeded three times the number exported to the second largest destination, Singapore (X units). Indonesia (X units) ranks third in terms of total exports with a share of X%.
From 2007 to 2020, the average annual growth rate of freight traffic to Vietnam reached +X%. Exports to other major destinations recorded the following average annual export growth rates: Singapore (+X% per annum) and Indonesia (-X% per annum).
The largest crane markets by value from Malaysia are Singapore (USD X), Russia (USD X) and Vietnam (USD X), accounting for X% of total exports. Among the major destination countries, Russia experienced the highest growth in export value during the period under review, while other leaders saw more modest growth in shipments.
In 2020, approximately X cranes, mobile cranes were imported into Malaysia; X% increase over the previous year. Overall, however, imports fell slightly. In 2011, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports reached a maximum of X units in 2013; however, from 2014 to 2020, imports decreased slightly.
In 2020 crane imports surged significantly to $X in value terms. However, imports grew significantly during the period under review. The most significant growth rate occurred in 2008, when imports increased by X% over the previous year. Imports peaked at $X in 2017; however, imports declined slightly from 2018 to 2020.
In 2020, China (X units) was the largest crane supplier in Malaysia, accounting for X% of total imports. In addition, the number of cranes imported from China exceeded the number recorded by the second largest supplier, South Korea (X units). Japan takes third place (X units) with an X% share.
From 2007 to 2020, the average annual growth rate of sales from China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: South Korea (+X% per annum) and Japan (-X% per annum). China ($X) is the largest crane supplier to Malaysia by value, accounting for X% of total imports. In second place is Japan ($X) with X% of total imports. It is followed by South Korea with an X% share.
From 2007 to 2020, the average annual growth rate of value from China reached +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Japan (-X% per annum) and South Korea (+X% per annum).
China is Malaysia's largest crane supplier by value, accounting for 71% of total imports. In second place is Japan, which accounts for 14% of total imports. It is followed by South Korea with a share of 2.8%.
The largest markets for Malaysian crane exports by value are Singapore, Russia and Vietnam, which together account for 48% of total exports.
The average export price of cranes in 2020 was US$7,994 per unit, an increase of 2.7% over the previous year.
The average price of crane imports in 2020 was $20,787 per unit, up 3.9% from the previous year.
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