Cranes can be categorized based on their use and function, including tower cranes, crawler cranes, truck cranes, and port cranes. Their application scenarios are extensive, covering almost all industries requiring the lifting and transporting of heavy objects. Major downstream users of cranes include construction companies, port operators, manufacturing enterprises, and mining companies. These entities have significant demand for cranes, particularly in large infrastructure projects, manufacturing production lines, and port handling operations.
According to the publisher, the leading crane exporters in the Asia-Pacific region and globally include China, Japan, Germany, and the United States. Prominent crane manufacturers from these countries, such as Zoomlion, Sany, Tadano, and Terex, hold significant positions in the global market.
In Vietnam, with rapid economic development and advancing infrastructure construction, the demand for cranes has been increasing. The publisher reports that the main downstream users of cranes in Vietnam include the construction industry, the logistics industry, manufacturing sectors, etc. The Vietnamese crane market relies heavily on imported products. In recent years, Chinese brands have gained a substantial share in Vietnam's crane market due to their high cost-performance ratio and well-established after-sales service networks.
Cranes, as crucial engineering machinery, have extensive applications and market demand worldwide. As Vietnam's economy continues to grow and infrastructure construction progresses, the demand for cranes in Vietnam is expected to increase in the coming years. The publisher data shows that in 2023, Vietnam's crane import value reached US$ 250 million. From January to May 2024, the import value of cranes in Vietnam was already close to US$ 160 million, reflecting the growing market demand.
The publisher analyzes that from 2021 to 2024, the main sources of Vietnam's crane imports include China, Japan, and Hong Kong. Key companies exporting cranes to Vietnam are SANY International Development Ltd, WISDRI Engineering and Research Inc., and Mitsui E&S Machinery Co., Ltd. Both manufacturers and import-export traders are heavily involved.
In Vietnam, the primary importers of cranes are companies in the construction, shipbuilding, and related industries, as well as distributors. The publisher analyzes that these importers include both local and foreign-invested enterprises, such as Hung Han, JSC, Hoa Phat Dung Quat Steel JSC, and Hyundai Vietnam Shipbuilding.
Overall, with population growth, urbanization, and the development of the construction, manufacturing, and logistics industries, the market size for cranes in Vietnam is expected to continue growing in the coming years. The publisher predicts that due to limited domestic production capacity, Vietnam will continue to rely heavily on imported cranes, driving the increase in crane import value.
Topics covered:
- The Import and Export of Crane in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Crane in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Crane in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Crane in Vietnam (January-May 2024)
- Total Import Value and Percentage Change of Crane in Vietnam (January-May 2024)
- Average Import Price of Crane in Vietnam (2021-2024)
- Top 10 Sources of Crane Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Crane in Vietnam and Their Supply Volume
- Top 10 Importers of Crane in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Crane in Vietnam
- How Foreign Enterprises Enter the Crane Market of Vietnam
- Forecast for the Import of Crane in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- SANY INTERNATIONAL DEVELOPMENT LTD
- WISDRI ENGINEERING AND RESEARCH INC.
- Mitsui E&S Machinery Co. LTD
- HUNG HAN
- JSC
- Hoa Phat Dung Quat Steel JSC
- Hyundai Vietnam Shipbuilding
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 350 Million |
| Forecasted Market Value ( USD | $ 688.08 Million |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 7 |
