U.S.: Truck Crane Market 2023

Truck Crane Market Size in the U.S.

The U.S. truck crane market expanded notably to $X in 2021, surging by 11% 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). Overall, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.8% against 2019 indices. Truck crane consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Truck Crane Exports

Exports from the U.S.

In 2021, overseas shipments of truck cranes decreased by -31.1% to X units, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 284%. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, truck crane exports dropped to $X in 2021. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 122% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for truck crane exports from the United States, with a 7.1% share of total exports. Moreover, truck crane exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.6% per year) and the United Arab Emirates (-14.6% per year).

In value terms, Canada ($X) remains the key foreign market for truck cranes exports from the United States, comprising 61% of total exports. The second position in the ranking was taken by Mexico ($X), with a 14% share of total exports. It was followed by Kuwait, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.2% per year) and Kuwait (+22.8% per year).

Export Prices by Country

In 2021, the average truck crane export price amounted to $X per unit, surging by 24% against the previous year. Over the period under review, the export price posted a strong increase. The pace of growth was the most pronounced in 2016 an increase of 277%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Crane Imports

Imports into the U.S.

In 2021, supplies from abroad of truck cranes decreased by -0.3% to X units, falling for the second year in a row after three years of growth. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, truck crane imports totaled $X in 2021. Over the period under review, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 48% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest truck crane supplier to the United States, with a 0.8% share of total imports. Moreover, truck crane imports from Germany exceeded the figures recorded by the second-largest supplier, Canada (X units), more than tenfold. The third position in this ranking was held by China (X units), with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-9.6% per year) and China (-16.7% per year).

In value terms, Germany ($X) constituted the largest supplier of truck cranes to the United States, comprising 97% of total imports. The second position in the ranking was held by China ($X), with a 0.8% share of total imports. It was followed by Canada, with a 0.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.1% per year) and Canada (-12.3% per year).

Import Prices by Country

In 2021, the average truck crane import price amounted to $X per unit, surging by 2.1% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+84.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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