Chile: Lifting Equipment Market 2024

Lifting Equipment Market Size in Chile

For the fifth consecutive year, the Chilean lifting equipment market recorded growth in sales value, which increased by 22% to $X in 2021. In general, consumption, however, continues to indicate a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lifting Equipment Exports

Exports from Chile

In 2021, lifting equipment exports from Chile surged to X units, rising by 44% compared with the previous year's figure. In general, exports posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of 1,007%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lifting equipment exports shrank dramatically to $X in 2021. Over the period under review, exports, however, saw a dramatic contraction. The growth pace was the most rapid in 2019 when exports increased by 532% 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

Spain (X units) was the main destination for lifting equipment exports from Chile, with a 61% share of total exports. Moreover, lifting equipment exports to Spain exceeded the volume sent to the second major destination, Germany (X units), fivefold. The third position in this ranking was held by Peru (X units), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +69.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.0% per year) and Peru (-14.3% per year).

In value terms, Peru ($X), Spain ($X) and Canada ($X) appeared to be the largest markets for lifting equipment exported from Chile worldwide, together comprising 74% of total exports. These countries were followed by Germany, Uruguay and Denmark, which together accounted for a further 26%.

Among the main countries of destination, Uruguay, with a CAGR of +86.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, falling by -92.3% against the previous year. Over the period under review, the export price faced a dramatic decline. The most prominent rate of growth was recorded in 2019 an increase of 184% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Spain ($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 Uruguay (+72.3%), while the prices for the other major destinations experienced mixed trend patterns.

Lifting Equipment Imports

Imports into Chile

In 2021, approx. X units of lifting equipment were imported into Chile; with an increase of 15% on the previous year's figure. In general, imports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 181% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of lifting equipment to Chile, accounting for a 41% share of total imports. Moreover, lifting equipment imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), twofold. The third position in this ranking was held by Denmark (X units), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-0.3% per year) and Denmark (+2.4% per year).

In value terms, Canada ($X), Germany ($X) and the United States ($X) constituted the largest lifting equipment suppliers to Chile, with a combined 36% share of total imports.

Canada, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, surging by 44% against the previous year. Overall, the import price saw perceptible growth. The pace of growth appeared the most rapid in 2013 an increase of 172% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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