Loading Machinery Market

The global market for lifting, handling, loading or unloading machinery is expected to see continued growth from 2022 to 2030, with a forecasted increase in market volume and value. The United States leads in both consumption and production, with China as the key exporting country. Import and export prices have experienced fluctuations over the years, with notable growth trends seen in certain countries. Overall, the market is forecasted to see steady growth in the near future.

Market Forecast

Driven by increasing demand for lifting, handling, loading or unloading machinery worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market volume to 26M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.9% for the period from 2022 to 2030, which is projected to bring the market value to $68.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lifting, Handling, Loading Or Unloading Machinery

In 2022, global consumption of lifting, handling, loading or unloading machinery rose notably to 20M units, with an increase of 6.8% compared with the year before. The total consumption volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to continue growth in the near future.

The global loading machinery market revenue reduced to $40B in 2022, waning by -5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $46.7B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The United States (8.2M units) constituted the country with the largest volume of loading machinery consumption, accounting for 42% of total volume. Moreover, loading machinery consumption in the United States exceeded the figures recorded by the second-largest consumer, China (1.8M units), fivefold. The third position in this ranking was taken by Australia (892K units), with a 4.6% share.

In the United States, loading machinery consumption increased at an average annual rate of +5.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+4.5% per year) and Australia (+8.8% per year).

In value terms, the largest loading machinery markets worldwide were Russia ($5.6B), the United States ($3B) and Italy ($2.7B), together comprising 28% of the global market.

Italy, with a CAGR of +14.5%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of loading machinery per capita consumption in 2022 were Hungary (61 units per 1000 persons), Australia (34 units per 1000 persons) and the United States (24 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +16.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Lifting, Handling, Loading Or Unloading Machinery

In 2022, the amount of lifting, handling, loading or unloading machinery produced worldwide shrank to 12M units, remaining relatively unchanged against 2021. The total output volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. Over the period under review, global production reached the peak volume at 12M units in 2021, and then reduced slightly in the following year.

In value terms, loading machinery production dropped to $38.9B in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 15% against the previous year. Global production peaked at $46.9B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of loading machinery production was China (4.9M units), comprising approx. 40% of total volume. Moreover, loading machinery production in China exceeded the figures recorded by the second-largest producer, India (845K units), sixfold. Italy (615K units) ranked third in terms of total production with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +6.4%. In the other countries, the average annual rates were as follows: India (+5.0% per year) and Italy (+19.9% per year).

Imports

World Imports of Lifting, Handling, Loading Or Unloading Machinery

In 2022, purchases abroad of lifting, handling, loading or unloading machinery increased by 17% to 15M units, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 22% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, loading machinery imports amounted to $15.5B in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 19%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports By Country

The United States prevails in imports structure, reaching 9.2M units, which was near 60% of total imports in 2022. It was distantly followed by Australia (940K units), making up a 6.2% share of total imports. The following importers - Canada (548K units), Thailand (360K units), China (324K units), Brazil (303K units), Singapore (297K units), Mexico (289K units) and the Netherlands (269K units) - together made up 16% of total imports.

Imports into the United States increased at an average annual rate of +6.1% from 2012 to 2022. At the same time, Singapore (+32.1%), Thailand (+17.1%), the Netherlands (+15.2%), Mexico (+12.0%), Canada (+8.9%), Australia (+8.4%), China (+8.0%) and Brazil (+6.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +32.1% from 2012-2022. Singapore (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while the United States saw its share reduced by -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3.4B) constitutes the largest market for imported lifting, handling, loading or unloading machinery worldwide, comprising 22% of global imports. The second position in the ranking was taken by China ($940M), with a 6.1% share of global imports. It was followed by the Netherlands, with a 5.1% share.

In the United States, loading machinery imports increased at an average annual rate of +6.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-1.3% per year) and the Netherlands (+8.1% per year).

Import Prices By Country

In 2022, the average loading machinery import price amounted to $1,018 per unit, which is down by -12.7% against the previous year. In general, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 11%. Over the period under review, average import prices attained the maximum at $1,257 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($2,949 per unit), while the United States ($371 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Lifting, Handling, Loading Or Unloading Machinery

In 2022, global loading machinery exports reached 8M units, surging by 13% compared with 2021 figures. Overall, exports showed prominent growth. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, loading machinery exports expanded slightly to $14B in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 22% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China was the key exporting country with an export of about 3.5M units, which recorded 44% of total exports. The United States (1,067K units) held the second position in the ranking, followed by Germany (548K units) and Taiwan (Chinese) (506K units). All these countries together held near 27% share of total exports. The Netherlands (251K units), Canada (246K units), France (214K units), Italy (194K units), India (182K units), Thailand (178K units) and South Korea (135K units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Thailand (+57.9%), France (+33.2%), the Netherlands (+31.6%), Italy (+31.3%), Germany (+25.2%), the United States (+20.2%), India (+19.3%), Canada (+16.9%), South Korea (+13.4%) and Taiwan (Chinese) (+6.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +57.9% from 2012-2022. The United States (+7.8 p.p.), Germany (+4.9 p.p.), the Netherlands (+2.6 p.p.), France (+2.3 p.p.), Thailand (+2.2 p.p.) and Italy (+2 p.p.) significantly strengthened its position in terms of the global exports, while Taiwan (Chinese) and China saw its share reduced by -2.3% and -11.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($2.8B), China ($1.7B) and the Netherlands ($971M) constituted the countries with the highest levels of exports in 2022, with a combined 39% share of global exports. Italy, the United States, France, Canada, South Korea, Taiwan (Chinese), India and Thailand lagged somewhat behind, together accounting for a further 28%.

India, with a CAGR of +14.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average loading machinery export price stood at $1,748 per unit in 2022, dropping by -8.9% against the previous year. Overall, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 6.2% against the previous year. The global export price peaked at $2,736 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($5,091 per unit), while Thailand ($187 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform