In 2020, after two years of growth, the Latin American crane market saw a significant decline, with its value falling by -X% to $X. Overall, consumption has shown a relatively flat trend pattern. In 2008, the growth rate was the fastest, and the market value increased by X% year-on-year. During the period under review, the market hit an all-time high of $X in 2010; however, from 2011 to 2020, consumption has remained low.
In value terms, 2020 crane production is estimated to fall to X dollars at export prices. Overall, production declined slightly. In 2008, the growth rate was the fastest, with an increase of X% year-on-year. Production levels peaked at $X in 2014; however, from 2015 to 2020, production has been at lower levels.
The countries with the highest crane production in 2020 are Venezuela (X units), Brazil (X units) and Mexico (X units), which together account for X% of total production.
From 2007 to 2020, among the major producing countries, the most significant increase in crane production was in Mexico, while crane production in other leading countries increased at a more moderate rate.
After two years of growth, overseas shipments of cranes fell -X% to X units in 2020. But overall, exports continued to show strong growth. The fastest growth was recorded in 2019, with a year-on-year increase of X%. As a result, exports peaked at X units and then decreased in the following year.
Crane exports fell to X dollars in 2020 by value. But overall, exports have grown moderately. The fastest growth in 2014 was X% over the previous year. Export levels peaked at $X in 2015; however, from 2016 to 2020, export volumes were slightly lower.
Venezuela (unit X) and Brazil (unit X) were the largest exporters of derricks, cranes, mobile derricks, straddle carriers and crane-equipped work trucks in Latin America and the Caribbean in 2020, with a combined share of total exports X% . Mexico (X units) is second in the ranking, followed by Chile (X units) and the Dominican Republic (X units). All of these countries together account for X% of total exports. Colombia (X units) and Jamaica (X units) accounted for relatively small shares of total exports.
From 2007 to 2020, Venezuela saw the largest increase in shipments, while other leaders saw more modest growth in shipments.
Brazil ($X) remains the largest crane supplier in Latin America and the Caribbean by value, accounting for X% of total exports. In second place is Mexico ($X) with X% of total exports. It was followed by Chile with an X% share.
From 2007 to 2020, Brazil has experienced an average annual value growth of +X%. In other countries, the average annual growth rates are as follows: Mexico (-X% per year) and Chile (+X% per year).
In 2020, the supply of cranes from abroad fell -X% to X units for the first time since 2017, ending a two-year upward trend. Overall, there was a marked decline in imports. In 2008, the growth rate was the fastest, with imports increasing by X% year-on-year. Imports peaked at X units in 2013; however, from 2014 to 2020, imports declined slightly.
In 2020, crane imports fell sharply to $X in value terms. Overall, imports continued to show a relatively flat trend pattern. The most significant growth rate occurred in 2008, with an X% year-on-year increase. During the period under review, imports reached a record $X in 2013; however, from 2014 to 2020, import volumes have remained low.
The countries with the highest import volume of cranes in 2020 are the Dominican Republic (X units), Brazil (X units), Mexico (X units), Costa Rica (X units), Chile (X units) and Argentina (X units), which together account for total imports of X%. Uruguay (unit X), Bahamas (unit X), Peru (unit X), Cuba (unit X), Colombia (unit X), Ecuador (unit X) and Bolivia (unit X) accounted for a small portion of total imports.
From 2007 to 2020, among the major importing countries, the Dominican Republic saw the most significant growth in purchases, while other leaders saw more modest growth in imports.
By value, Costa Rica ($X), Brazil ($X), and Chile ($X) appear to be the top importers in 2020, together accounting for X% of total imports. This is followed by Mexico, the Dominican Republic, Argentina, Cuba, Ecuador, Peru, the Bahamas, Colombia, Uruguay and Bolivia, which together are the X leading importers, with the Dominican Republic having the highest growth rate in imports during the period under review , compared to the value of imports, while purchases by other leaders experienced a more modest pace of growth.
Brazil ($36 million) remains the largest crane supplier in Latin America and the Caribbean by value, accounting for 43% of total exports. In second place is Mexico ($10 million) with 12% of total exports. It is followed by Chile with a share of 11%.
In value terms, Costa Rica ($168 million), Brazil ($122 million) and Chile ($102 million) made up the countries with the highest levels of imports in 2020, together accounting for 53% of total imports. Mexico, the Dominican Republic, Argentina, Cuba, Ecuador, Peru, the Bahamas, Colombia, Uruguay and Bolivia are slightly behind with a combined 43 percent.
In 2020, the export price of cranes in Latin America and the Caribbean was USD 14,865 per unit, a decrease of -2.4% from the previous year.
In 2020, the import price of cranes in Latin America and the Caribbean was US$33,319 per unit, a year-on-year increase of 20%.
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