Latin America and the Caribbean: Crane Market 2024

Crane Market Size in Latin America and the Caribbean

The Latin American crane market amounted to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Crane Production in Latin America and the Caribbean

In value terms, crane production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Crane Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by X% to X units, falling for the third year in a row after two years of growth. In general, exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, crane exports reached $X in 2022. Over the period under review, exports saw a noticeable decrease. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil was the key exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Latin America and the Caribbean, with the volume of exports resulting at X units, which was approx. X% of total exports in 2022. Chile (X units) ranks second in terms of the total exports with a X% share, followed by Mexico (X%), Bahamas (X%) and the Dominican Republic (X%). Panama (X units), Peru (X units), Ecuador (X units), Costa Rica (X units), Venezuela (X units), Guatemala (X units) and Colombia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crane exports from Brazil stood at X%. At the same time, Peru (X%), Costa Rica (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Guatemala (X%), Bahamas (X%), Panama (X%), Chile (X%), Mexico (X%), Colombia (X%), the Dominican Republic (X%) and Venezuela (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Peru, Costa Rica and Ecuador increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest crane supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled X%. In the other countries, the average annual rates were as follows: Chile (X% per year) and Mexico (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced more modest paces of growth.

Crane Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported in Latin America and the Caribbean; surging by X% on 2021 figures. Overall, imports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports rose rapidly to $X in 2022. In general, imports, however, recorded a abrupt decline. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X units), Brazil (X units), Mexico (X units), Argentina (X units) and Peru (X units) was the major importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Latin America and the Caribbean, achieving X% of total import. The following importers - Ecuador (X units), Uruguay (X units), Colombia (X units), the Dominican Republic (X units), Panama (X units), Venezuela (X units) and Bahamas (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest crane importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Brazil ($X), with a combined X% share of total imports. Argentina, Peru, Ecuador, Colombia, the Dominican Republic, Uruguay, Bahamas, Venezuela and Panama lagged somewhat behind, together comprising a further X%.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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