The Colombian crane market shrank significantly to $X in 2020, down -X% compared to the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). During the period under review, however, consumption showed a marked decline. The most significant growth rate occurred in 2008, when the market value increased by X% year-on-year. During the period under review, the market peaked at $X in 2013; however, from 2014 to 2020, consumption has remained low.
In 2020, overseas shipments of cranes and mobile cranes increased by X% to X units, the third consecutive year of growth after two years of decline. Overall, exports showed strong growth. The most significant growth rate occurred in 2011, which was an X% increase compared to the previous year. Exports peaked in 2020 and are expected to keep growing in the near future.
Crane exports shrank sharply to $X in 2020 in value terms. Overall, there was a sudden contraction in exports. The fastest growth in 2011 was X% over the previous year. During the period under review, exports peaked at $X in 2015; however, from 2016 to 2020, exports were slightly lower.
Portugal (X units) was the main destination for Colombian crane exports, accounting for X% of total exports. In addition, the number of cranes exported to Portugal exceeded nine times the number exported to the second largest destination, Uruguay (X units). Peru (X units) ranks third in total exports with a share of X%.
From 2007 to 2020, the average annual growth rate of shipments to Portugal was relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Uruguay (+X% per annum) and Peru (-X% per annum).
By value, Peru ($X), the United States ($X) and Portugal ($X) appear to be the largest markets for Colombian global crane exports, together accounting for X% of total exports. In terms of major destination countries, the U.S. experienced the highest growth rate in export value during the period under review, while shipments from other major destination countries showed a mixed trend.
In 2020, Colombian crane imports contracted sharply to X units, a -X% drop from 2019 figures. Overall, however, imports recorded significant growth. The fastest growth in 2008, an increase of X% over the previous year. Imports peaked at X units in 2013; however, from 2014 to 2020, imports have remained low.
In 2020, crane imports dropped significantly to $X in value terms. Overall, however, there has been a marked decline in imports. The most significant growth rate occurred in 2011, with an X% year-on-year increase. Imports peaked at $X in 2013; however, from 2014 to 2020, imports failed to regain momentum.
China (X units), Spain (X units) and Germany (X units) are the main suppliers of cranes imported to Colombia, together accounting for X% of total imports. Italy, the UK, Australia, the US and Austria are slightly behind, collectively accounting for a further increase from 2007 to 2020. Other leaders experienced a more modest pace of growth.
Colombia's largest crane suppliers by value are Germany ($X), Spain ($X) and Italy ($X), which together account for X% of total imports. This was followed by the United States, Austria, Australia, China and the United Kingdom, which recorded the highest growth in import value by major suppliers during the period under review, while purchasing as other leaders experienced a more moderate pace of growth.
Germany ($6.1 million), Spain ($3.2 million) and Italy ($2.5 million) were Colombia's largest crane suppliers by value, together accounting for 60% of total imports. This is followed by the US, Austria, Australia, China and the UK, which together account for 33%.
In value terms, Peru ($111,000), the United States ($76,000) and Portugal ($61,000) were the largest markets for Colombian cranes exported globally, together accounting for 82% of total exports.
In 2020, the average import price of cranes was US$35,884 per unit, an increase of 49% over the previous year.
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