Report Update: May 1, 2024

Sri Lanka - Derricks, Cranes, Mobile Lifting Frames, Straddle Carriers And Work Trucks Fitted With A Crane - Market Analysis, Forecast, Size, Trends and Insights

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Crane Price in Sri Lanka - 2021

Crane Price in Sri Lanka (CIF) - 2022

In 2022, the average crane import price amounted to $15,187 per unit, increasing by 42% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($16,839 per unit) and the Netherlands ($15,549 per unit), while the price for Singapore ($14,048 per unit) and China ($15,158 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Crane Price in Sri Lanka (FOB) - 2022

In 2022, the average crane export price amounted to $14,989 per unit, with an increase of 53% against the previous year. In general, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crane export price decreased by -12.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 54%. The export price peaked at $17,102 per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Maldives ($18,876 per unit) and the United Arab Emirates ($15,876 per unit), while the average price for exports to Singapore ($13,992 per unit) and India ($15,200 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports in Sri Lanka

In 2022, after two years of decline, there was significant growth in purchases abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, when their volume increased by 90% to 2.5K units. Over the period under review, imports, however, faced a abrupt contraction. Imports peaked at 4.7K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports skyrocketed to $38M in 2022. In general, imports, however, saw a deep slump. Imports peaked at $53M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Crane in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	39.7	25.0	6.2	33.1	-5.9%
Japan	4.5	3.2	1.0	2.2	-21.2%
Netherlands	N/A	0.1	0.2	1.1	231.7%
India	5.0	5.1	0.7	0.4	-56.9%
Germany	0.9	5.5	3.7	0.1	-51.9%
Others	2.7	2.9	2.1	0.6	-39.4%
Total	52.7	41.8	13.9	37.5	-10.7%

Top Suppliers of Crane to Sri Lanka in 2022:

China (2185.0 units)
Japan (131.0 units)
Netherlands (70.0 units)
India (37.0 units)
Germany (6.0 units)

Crane Exports in Sri Lanka

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exported from Sri Lanka surged to 248 units, picking up by 428% compared with the year before. In general, exports posted resilient growth. The exports peaked at 388 units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crane exports soared to $3.7M in 2022. Overall, exports saw a resilient expansion. Over the period under review, the exports reached the peak figure at $6.6M in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Export of Crane in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	76.4	3,086	131	2,546	221.8%
Singapore	65.7	332	21.3	909	140.1%
United Arab Emirates	3.1	323	88.1	170	279.9%
Maldives	6.9	669	9.4	97.6	141.8%
Kuwait	278	327	131	N/A	-31.4%
Indonesia	161	172	62.5	N/A	-37.7%
Netherlands	885	N/A	N/A	N/A	0%
Others	785	1,724	22.5	N/A	-83.1%
Total	2,261	6,632	466	3,723	18.1%

Top Export Markets for Crane from Sri Lanka in 2022:

India (167.0 units)
Singapore (65.0 units)
United Arab Emirates (11.0 units)
Maldives (5.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crane market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28221420 - Overhead travelling cranes on fixed support
Prodcom 28221433 - Mobile lifting frames on tyres and straddle carriers
Prodcom 28221435 - Transporter cranes, gantry cranes and bridge cranes
Prodcom 28221440 - Tower cranes and portal or pedestal jib cranes
Prodcom 28221450 - Self-propelled lifting equipment, of a kind mounted to run on rails in servicing building sites, quarries and the like
Prodcom 28221460 - Lifting equipment designed for mounting on road vehicles
Prodcom 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023