In 2020, the Mexican crane market grew X% to X dollars, rising for the second year in a row after three consecutive years of declines. Overall, consumption continued to show significant growth. As a result, consumption has peaked and is likely to continue growing in the short term.
In value terms, the total production of cranes in 2020 is estimated at X USD at export prices. Overall, from 2007 to 2020, total production has grown significantly: its value has grown at an average annual rate of +X% over the past 13 years. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. According to 2020 data, production has increased by +X% compared to the 2016 index. The fastest growth rate in 2013, an increase of X% year-on-year. As a result, production reached a peak level of X dollars. From 2014 to 2020, the output growth rate remained at a low level.
In 2020, after three years of growth, overseas shipments of cranes, mobile hoisting frames declined significantly, and its sales fell -X% to X units. Overall, exports have shrunk significantly. In 2009, the growth rate was the fastest, and exports increased by X% year-on-year. During the period under review, exports peaked at X units in 2015; however, from 2016 to 2020, exports were slightly lower.
Crane exports surged significantly to $X in 2020 in value terms. During the period under review, there was a marked pullback in exports. The fastest growth rate in 2015, an increase of X% year-on-year. As a result, exports peaked at X dollars. Export growth failed to regain momentum between 2016 and 2020.
The United States (X units), Italy (X units) and El Salvador (X units) were the main destinations for Mexican crane exports, accounting for X% of total exports.
From 2007 to 2020, among the major destination countries, the growth rate of shipments was most pronounced in Italy, while exports from other countries grew at a more moderate rate.
In terms of value, the United States ($X) remains the main foreign market for Mexican crane exports, accounting for X% of total exports. In second place is Italy ($X) with X% of total exports.
From 2007 to 2020, the average annual growth rate of value to the U.S. was relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Italy (+X% per annum) and El Salvador (+X% per annum).
In 2020, overseas purchases of cranes, mobile cranes fell -X% to X units for the first time since 2017, ending a two-year upward trend. During the period under review, imports declined significantly. The growth rate was most pronounced in 2009, when imports rose by X% year-on-year. Imports peaked at X units in 2012; however, from 2013 to 2020, imports decreased slightly.
In 2020, crane imports dropped significantly to $X in value terms. Overall, imports have decreased significantly. In 2009, the growth rate was the fastest, with imports increasing by X% year-on-year. Imports peaked at $X in 2015; however, from 2016 to 2020, imports decreased slightly.
In 2020, the United States (X units) was the largest crane supplier to Mexico, accounting for X% of total imports. In addition, cranes imported from the US were five times higher than the number recorded by the second largest supplier, China (X units). In third place in this ranking is Sweden (X units) with an X% share.
From 2007 to 2020, the average annual growth rate from the United States was relatively modest. The average annual growth rates of imports for the remaining suppliers are as follows: China (-X% per annum) and Sweden (+X% per annum). The United States ($X), Spain ($X) and China ($X) are Mexico's largest crane suppliers by value, accounting for X% of total imports. In terms of major supplier countries, Spain experienced the highest growth in import value during the period under review, while other leaders saw a decline in purchases.
Mexico's largest crane suppliers by value are the United States, Spain and China, accounting for 56% of total imports.
In terms of value, the United States remains the main foreign market for Mexican crane exports, accounting for 94% of total exports. In second place was Italy, which accounted for 5.1% of total exports.
In 2020, the average export price of cranes was US$17,946 per unit, up 203% from the previous year.
The average price of crane imports in 2020 was $33,605 per unit, up 27% from the previous year.
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