Lifts and skip hoists market in Denmark

Earlier Report Observations

The market for lifts and skip hoists in Denmark showed considerable volatility from 2018 to 2024. After an initial drop to 31 646 thousand USD in 2019, the market size jumped to 38 340 thousand USD in 2020. This increase aligned with a global shift toward technological innovations and automation in construction, aimed at improving efficiency and safety, which likely stimulated demand for newer lifts and hoists.

The following years saw a marked contraction, with the market falling to 27 554 thousand USD in 2021 and 23 604 thousand USD in 2022. The continued challenges from the COVID-19 pandemic disrupted construction activity and delayed projects, contributing to the decline. A modest recovery to 24 123 thousand USD occurred in 2023, supported by the growing integration of IoT and digital monitoring solutions in lifting equipment.

In 2024, the market size decreased again to 22 032 thousand USD. Regulatory changes in key export markets, such as the repeated amendments to the UK's Lifts Regulations, along with the industry-wide push for energy-efficient designs featuring regenerative drives and LED lighting, shaped product specifications and market expectations throughout the period.

Production lifts and skip hoists in Denmark

In value, 2018-2021, K $ US

In 2021, Denmark's production of lifts and skip hoists was valued at 23 601 thousand US dollars, representing a 17.1% decrease compared to 2020. Over the period from 2018 to 2021, production declined by 17.8%, with a compound annual growth rate of 6.3%. The largest increase occurred in 2020, at 3.2%.

Annual dynamics of production in Denmark in value, 2018-2021, K $ US

In kind, 2018-2021, unit

Denmark's production of lifts and skip hoists declined for the third consecutive year. In 2021, 1 298 units were produced, down by 74.6% compared to 2020. From 2018 to 2021, production decreased by 81.9%, with a compound annual growth rate of 43.4%.

Annual dynamics of production in Denmark in kind, 2018-2021, unit

Exports lifts and skip hoists from Denmark

Exports in kind, unit

After a two-year decline, Denmark's export volume of lifts and skip hoists increased. In 2021, exports reached 1 643 units, marking a sharp gain of 54.7% compared to the previous year. Between 2018 and 2021, exports grew by 37.8%, equating to an annualized rate of 11.3%. The lowest volume was recorded in 2020 at 1 062 units, with the largest decline that year at 9.8%.

Annual dynamics of product's exports from Denmark in kind, 2018-2021, unit

From 2018 to 2021, the United Kingdom, China, and Germany were significant buyers of lifts and skip hoists from Denmark, accounting for 15.9%, 13.7%, and 13.6% of exports in kind, respectively. However, their combined share was only 43.3% of total exports, with the remaining 56.7% distributed among numerous other partners.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Denmark in kind, 2018-2021

Exports in value, K $ US

Following a two-year decrease, Denmark's export value of lifts and skip hoists rose. In 2021, exports totaled 28 259 thousand US dollars, reflecting a gain of 65.8% over the previous year. Between 2018 and 2021, exports increased by 36.6%, with an annualized rate of 11.0%. The minimum value was recorded in 2020 at 17 044 thousand US dollars, and the largest decline that year was 16.9%.

Annual dynamics of product's exports from Denmark in value, 2018-2021, K $ US

Throughout 2018 to 2021, Denmark's exports of lifts and skip hoists in value terms were not heavily concentrated on a few key markets. The United Kingdom, Germany, and China accounted for 16.2%, 13.6%, and 13.4% of exports in value terms, respectively, jointly representing only 43.3% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Denmark in value, 2018-2021

Imports lifts and skip hoists to Denmark

Imports in kind, unit

Denmark's import volume of lifts and skip hoists increased for the third consecutive year. In 2021, imports amounted to 1 607 units, showing a strong advance of 10.4% compared to 2020. Over the period from 2018 to 2021, imports grew by 23%, with a compound annual growth rate of 7.1%.

Annual dynamics of product's imports to Denmark in kind, 2018-2021, unit

From 2018 to 2021, Germany, Poland, and Sweden formed the core group of markets for Denmark's imports in kind, with shares of 24.4%, 23.2%, and 9.6%, respectively. Together, they represented 57.2% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Denmark in kind, 2018-2021

Imports in value, K $ US

Denmark's import value of lifts and skip hoists increased for the second consecutive year. In 2021, imports reached 32 213 thousand US dollars, reflecting a solid rise of 19.6% compared to 2020. Between 2018 and 2021, imports grew by 25.2%, equating to an annualized rate of 7.8%. The lowest value was recorded in 2019 at 24 587 thousand US dollars, with the largest decline that year at 4.5%.

Annual dynamics of product's imports to Denmark in value, 2018-2021, K $ US

Over 2018 to 2021, Germany, Poland, and Sweden were the primary suppliers of lifts and skip hoists to Denmark in value terms, accounting for 24.4%, 23.3%, and 9.6% of imports, respectively. Jointly, they made up 57.2% of total imports in value terms.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Denmark in value, 2018-2021