Monday, 23 May 2022
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In 2020, the crane market in Thailand grew X% to X dollars, rising for the third consecutive year after two years of decline. But overall, consumption shows a relatively flat trend pattern. The most significant growth rate was recorded in 2019, with a year-on-year increase of X%. During the period under review, the market peaked at $X in 2015; however, from 2016 to 2020, consumption was at a lower level.

In 2020 crane production soared to X dollars by value (estimated at export prices). Overall, however, production continued to show a relatively flat trend pattern. 2015 saw the fastest growth, with production up X% over the previous year. Crane production peaked at $X in 2007; however, production remained low from 2008 to 2020.

Thailand’s crane export scale
In 2020, approximately X cranes, mobile cranes were exported from Thailand; -X% decrease compared to 2019 figures. Overall, there was a marked decline in exports. The growth rate was most pronounced in 2016, with an X% increase over the previous year. Exports peaked at X units in 2013; however, from 2014 to 2020, exports failed to regain momentum.

Crane exports in 2020 are worth X dollars by value. During the period under review, there was a significant increase in exports. The most significant growth rate occurred in 2016, when exports increased by X% year-on-year. Exports peaked at $X in 2018; however, from 2019 to 2020, export figures were slightly lower.

Mexico (X units), the United Kingdom (X units) and the United States (X units) were the main destinations for Thailand’s crane exports, together accounting for X% of total exports. This was followed by Russia, Turkey, Hong Kong SAR, Cambodia, Taiwan (China), Morocco and Myanmar, which saw further growth in shipments from 2007 to 2020, the most notable growth among the major countries rate Turkey reached its destination (+X% per annum), while exports from other leaders experienced a more modest pace of growth.

In terms of value, the United States ($X) emerged as the main foreign market for Thai crane exports, accounting for X% of total exports. In second place is Mexico ($X) with X% of total exports. It is followed by the UK with an X% share.

From 2007 to 2020, the value to the U.S. has grown at an average annual rate of +X%. Exports to other major destinations recorded the following average annual export growth rates: Mexico (+X% per annum) and the United Kingdom (+X% per annum).

Import scale of cranes in Thailand
In 2020, overseas purchases of cranes, mobile cranes fell -X% to X units, the second consecutive year of decline after three consecutive years of growth. During the review period, imports fell significantly. 2017 saw the fastest growth, with imports increasing by X% year-on-year. During the period under review, imports peaked at X units in 2018; however, from 2019 to 2020, imports declined slightly.

Crane imports contracted rapidly to $X in 2020 in value terms. Overall, imports fell slightly. The most significant growth rate occurred in 2018, when imports increased by X% year-on-year. Imports peaked at $X in 2013; however, from 2014 to 2020, imports decreased slightly.

China (X units), Japan (X units) and Germany (X units) were the main suppliers of crane imports to Thailand, accounting for X% of total imports. This is followed by the United States, Italy and Finland, which have seen further increases in purchases from 2007 to 2020, with Finland achieving the most significant growth in purchases among major suppliers, while other countries lead in imports experienced a mixed trend pattern.

China ($X), Japan ($X) and the United States ($X) are Thailand’s largest crane suppliers by value, together accounting for X% of total imports. Italy, Germany and Finland lagged slightly, with the other X recording the highest growth rates in terms of import value among the major suppliers during the period under review, while other leaders saw more modest increases in the pace of purchases.

Statistics of various crane suppliers in Thailand
China, Japan and the US appear to be Thailand’s largest crane suppliers by value, together accounting for 76% of total imports. It is followed by Italy, Germany and Finland, which together account for 14%.

In terms of value, the US emerged as the main foreign market for Thai crane exports, accounting for 33% of total exports. In second place is Mexico with 11% of total exports. It is followed by the UK with a 10% share.

The average export price of cranes in 2020 was US$16,016 per unit, an increase of 49% over the previous year.

The average price of crane imports in 2020 was US$4,839 per unit, an increase of 6.2% over the previous year.

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Thailand Crane Market Study 2022
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