In 2021, the Russian lifting equipment market finally rose to X dollars after two years of decline. Overall, total consumption showed moderate growth from 2012 to 2021: its value has grown at an average annual rate of +X% over the past nine years. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. As a result, consumption reaches a peak level of X dollars. From 2019 to 2021, the market growth rate will remain at a low level.
In value terms, hoisting equipment production in 2021 increased significantly to $X estimated at export prices. Overall, production showed a relatively stable trend pattern. The most significant growth rate occurred in 2018, when production increased by X%. As a result, production peaked at X dollars. Production growth failed to regain momentum from 2019 to 2021.
In 2021, Russia's hoisting equipment exports will soar to X units, a year-on-year increase of X%. Overall, exports continued to expand significantly. As a result, exports peaked and may continue to grow in the short term.
In value terms, exports of lifting equipment fell to X dollars in 2021. Overall, exports have grown strongly. The most significant growth rate occurred in 2019, when exports increased by X%. Exports peaked at $X in 2020, then declined the following year.
Bangladesh (X units) is the main destination for Russian hoisting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Bangladesh exceeded exports to the second largest destination, Algeria (X units) by more than ten times. Belarus (X units) ranks third with X% of total exports.
From 2012 to 2021, the average annual growth rate of shipments to Bangladesh is +X%. Exports to other major destinations recorded the following average annual export growth rates: Algeria (X% per annum) and Belarus (+ X% per annum).
Bangladesh ($X) remains the leading foreign market for Russian lifting equipment exports in value terms, accounting for X% of total exports. In second place is Algeria ($X) with X% of total exports. Next is Georgia with an X% share.
Average annual growth in value to Bangladesh from 2012 to 2021 is +X%. Exports to other major destinations recorded the following average annual export growth rates: Algeria (X% per annum) and Georgia (+X% per annum).
In 2021, the import volume of Russian hoisting equipment will soar to X units, an increase of X% year-on-year. Overall, imports continued to grow significantly. As a result, imports peaked and may continue to grow in the short term.
Lifting equipment imports surge to $X by value in 2021. During the period under review, imports increased significantly. Therefore, imports have peaked and may continue to grow in the short term.
In 2021, China (X units) is Russia's largest supplier of lifting equipment, accounting for X% of total imports. In addition, imports of lifting equipment from China were three times higher than the figures recorded by the second largest supplier, the Netherlands (X units). Belarus (X units) occupies the third position in the ranking with an X% share.
From 2012 to 2021, the average annual growth rate of sales from China totals +X%. The average annual growth rates of imports in the remaining supplier countries are as follows: Netherlands (+X% per annum) and Belarus (+X% per annum).
The Netherlands ($X) is the largest lifting equipment supplier to Russia by value, accounting for X% of total imports. In second place is China ($X) with X% of total imports. It is followed by Italy with an X% share.
Average annual value growth in the Netherlands from 2012 to 2021 is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and Italy (+X% per annum).
The Netherlands is Russia's largest supplier of lifting equipment by value, accounting for 55% of total imports. In second place is China, which accounts for 9.6% of total imports. It was followed by Italy with a share of 1.8%.
Bangladesh remains the main foreign market for Russian lifting equipment exports in value terms, accounting for 82% of total exports. In second place was Algeria, which accounted for 6.5% of total exports. It was followed by Georgia with 4.9%.
The average export price of hoisting equipment in 2021 is US$1,029/unit, a year-on-year decrease of -75.6%.
The average import price of lifting equipment in 2021 is $3,080 per unit, an increase of 38% over the previous year.
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