Tuesday, 21 June 2022
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Sri Lanka’s Transport Cranes and Overhead Cranes Market Soars to $X in 2021, Up X% from the Previous Year. Consumption generally grew moderately. As a result, spending reached the highest level of X dollars. From 2020 to 2021, the market growth rate will remain at a low level.

By value, the production of transport cranes and overhead cranes is estimated to reach X USD in 2021 at export prices. However, production continued to show a relatively flat trend pattern during the period under review. The growth rate was most pronounced in 2013, with a year-on-year increase of X%. As a result, production reached a peak level of X dollars. From 2014 to 2021, production growth will remain at a low level.

Sri Lankan bridge crane and gantry crane export scale
In 2021, the number of transport cranes, gantry cranes and overhead cranes exported from Sri Lanka soared to X units, an increase of X% year-on-year. During the period under review, exports increased significantly. During the period under review, the export volume reached a maximum of X units in 2019; however, from 2020 to 2021, exports failed to regain momentum.

In value terms, 2021 haul cranes and overhead crane exports dropped significantly to $X. Overall, exports have grown strongly. The growth rate was most pronounced in 2020, with an X% year-on-year increase. As a result, exports peaked at X dollars and then fell sharply the following year.

India (X units) is the main destination for Sri Lanka’s transport and overhead crane exports, accounting for X% of total exports. In addition, the export of transport and overhead cranes to India is more than four times that to the second largest destination, China (X units). Singapore (X units) ranked third in total exports with a share of X%. From 2012 to 2021, the average annual growth rate of cargo traffic to India is +X%. Exports to other major destinations recorded the following average annual export growth rates: China (+X% per annum) and Singapore (+X% per annum).

In terms of value, India (USD X) emerged as the leading foreign market for Sri Lanka’s transport and overhead crane exports, accounting for X% of total exports. In second place is the Maldives ($X) with X% of total exports. It was followed by Singapore with an X% share. Average annual growth in value to India from 2012 to 2021 +X%. Exports to other major destinations recorded the following average annual export growth rates: Maldives (-X% per annum) and Singapore (+X% per annum).

Import Scale of Overhead Cranes and Gantry Cranes in Sri Lanka
In 2021, the number of transport cranes, gantry cranes and bridge cranes imported by Sri Lanka soared to X units, an increase of X% year-on-year. During the period under review, imports continued to grow significantly. The growth rate was most pronounced in 2019, when imports rose by X% year-on-year. As a result, imports peaked at X units. Import growth will remain low in 2020-2021.

Imports of transport cranes and overhead cranes soar to $X in 2021 by value. Overall, imports recorded a moderate expansion. 2019 saw the fastest growth, with imports up X% year-on-year. As a result, imports peaked at X dollars. Import growth will remain low in 2020-2021.

In 2021, China (X units) is Sri Lanka’s largest supplier of transport cranes and overhead cranes, accounting for X% of total imports. In addition, transport cranes and overhead cranes imported from China were more than ten times higher than the number recorded by the second largest supplier, Singapore (X units).

From 2012 to 2021, 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: Singapore (+X% per annum) and Austria (-X% per annum).

China (USD X) is the largest supplier of transport and overhead cranes to Sri Lanka by value, accounting for X% of total imports. In second place is Singapore ($X) with X% of total imports. From 2012 to 2021, the average annual growth rate of value from China is +X%. The average annual growth rates of imports for the remaining supplier countries are as follows: Singapore (+X% per annum) and Austria (+X% per annum).

Statistics of various crane suppliers in Sri Lanka
China is Sri Lanka’s largest supplier of transport and overhead cranes by value, accounting for 80% of total imports. In second place was Singapore, which accounted for 7.5% of total imports.

In terms of value, India emerged as the leading foreign market for Sri Lanka’s transport and overhead crane exports, accounting for 96% of total exports. In second place is the Maldives, which accounted for 2.1% of total exports. It was followed by Singapore with a share of 1.2%.

In 2021, the average export price of transport cranes and overhead cranes will be USD 5,355 per unit, a decrease of -96.1% from the previous year.

In 2021, the average import price of transport cranes and overhead cranes will be $12,268 per unit, an increase of 53% from the previous year.

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Sri Lanka Overhead Cranes and Gantry Cranes Market Study 2022
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