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In 2021, the Myanmar lifting equipment market will grow X% to X US dollars, rising for the second consecutive year after two years of decline. Consumption continued to show marked growth during the period under review. Lifting equipment consumption peaked at $X in 2015; however, consumption is at a lower level from 2016 to 2021.

Myanmar lifting equipment export scale

In 2021, about X cranes were exported from Myanmar; the same as the previous year. Overall, exports face a sudden contraction. During the period under review, exports in 2012 reached a record high of X units; however, from 2013 to 2021, exports were at a lower level.

Lifting equipment exports in 2021 are worth X dollars in value. During the period under review, exports fell sharply. Exports peaked at $X in 2012; however, from 2013 to 2021, exports failed to regain momentum.

China (X units) is the main destination for Myanmar’s hoisting equipment exports, accounting for about X% of total exports.

From 2012 to 2021, the average annual growth rate of exports to China has been relatively modest.

Average annual growth in value to China from 2012 to 2021 is relatively modest.

Import scale of lifting equipment in Myanmar

In 2021, overseas purchases of lifting equipment will increase by X% to X units, the second consecutive year of growth after two years of decline. During the period under review, imports showed elastic growth. During the period under review, the import volume reached a maximum of X units in 2015; however, from 2016 to 2021, the import volume has been at a low level.

In terms of value, lifting equipment imports surged to $X in 2021. But overall, imports continued to show a marked decline. During the period under review, imports reached an all-time high of $X in 2015; however, from 2016 to 2021, imports decreased slightly.

Thailand (X units) and Japan (X units) are the main suppliers of lifting equipment imports from Myanmar.

From 2012 to 2021, the largest growth is in Thailand (CAGR +X value, Thailand ($X) is Myanmar’s largest supplier of lifting equipment, accounting for X% of total imports. Ranked 2nd position It is Japan ($X) with X% of total imports.

From 2012 to 2021, Thailand’s value has grown at an average annual rate of +X%.

Statistics of various crane suppliers in Myanmar

Thailand is Myanmar’s largest supplier of lifting equipment by value, accounting for 78% of total imports. In second place is Japan, which accounts for 21% of total imports.

The average export price of hoisting equipment in 2021 is $5,949 per unit, the same as the previous year.

The average import price of hoisting equipment in 2021 will be US$1,537/unit, a year-on-year decrease of -52.6%.

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Analysis of the lifting equipment market in Myanmar in 2022