The import of transporter or bridge cranes to South Korea reached 56.162 million USD in 2023, reflecting a steady decline over the past decade. The value in 2023 decreased by 6.18% compared to the previous year, continuing the downward trend since 2019. Over the last two years, the average year-on-year variation was around -6.06%. Moving forward, a sustained decrease is forecasted, with the compound annual growth rate (CAGR) projected at -6.69% from 2024 to 2028, leading to a 29.28% decline by 2028.
Future trends to watch for include:
- Changes in domestic demand for construction and infrastructure projects.
- Technological advancements and automation in crane manufacturing.
- Government policies affecting imports and infrastructure investments.
