Sri Lanka lifting equipment market shrinks to X USD in 2021, down -X% compared to the previous year. Overall, from 2012 to 2021, total consumption has shown measurable growth: 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. According to 2021 data, consumption has increased by +X% compared to the 2019 index. As a result, consumption peaks at X dollars and then decreases the following year.
In value terms, hoisting equipment production in 2021 is estimated to have dropped significantly to $X at export prices. During the period under review, total production has grown significantly 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. According to 2021 data, production has increased by +X% compared to the 2016 index. The most significant growth rate occurred in 2020, when production increased by X%. As a result, production peaked at $X before falling sharply the following year.
Sri Lanka’s lifting equipment export scale
Overseas shipments of lifting equipment in 2021 fell -X% to X units for the first time since 2016, ending a four-year upward trend. Overall, however, exports continued to show strong growth. The most significant growth rate occurred in 2018, when exports increased by X%. Exports peaked at X units in 2020, before falling sharply the following year.
In value terms, hoisting equipment exports fell rapidly to $X in 2021. But overall, exports continued to show strong growth. The fastest growth rate in 2018, with a year-on-year increase of X%. Exports peaked at $X in 2020 and then declined significantly the following year.
India (X units) is the main destination for Sri Lankan lifting equipment exports, accounting for about X% of total exports.
From 2012 to 2021, the average annual growth rate of cargo traffic to India is +X%. In terms of value, India ($X) remains the main foreign market for Sri Lankan lifting equipment exports.
Average annual growth in value to India from 2012 to 2021 +X%.
Import Scale of Lifting Equipment in Sri Lanka
In 2021, approximately X lifting equipment will be imported into Sri Lanka; an increase of X% over the previous year. However, imports continued to show sharp declines during the period under review. 2016 saw the fastest growth, with imports increasing by X% year-on-year. Imports peaked at X units in 2018; however, imports remain low from 2019 to 2021.
Lifting equipment imports fell to X dollars in value in 2021. But overall, imports continued to show a sharp decline. The most significant growth rate occurred in 2017, when imports increased by X% over the previous year. During the period under review, imports hit an all-time high of $X in 2018; however, from 2019 to 2021, imports remain low.
In 2021, Japan (Unit X) is the main lifting equipment supplier in Sri Lanka, approx. X% of total imports.
From 2012 to 2021, the average annual growth rate of sales in Japan totals +X%.
Japan ($X) is the largest lifting equipment supplier to Sri Lanka by value.
From 2012 to 2021, the average annual growth rate of value from Japan is +X%.
Statistics of various crane suppliers in Sri Lanka
Japan is Sri Lanka’s largest supplier of lifting equipment by value.
In terms of value, India remains the main foreign market for Sri Lanka’s lifting equipment exports.
The average export price of hoisting equipment in 2021 is US$868/unit, which remains relatively stable compared with the previous year.
The average import price of hoisting equipment in 2021 will be US$2,166 per unit, a year-on-year decrease of -55.6%.
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