Costa Rica: Lift And Hoist Market 2024

Lift And Hoist Market Size in Costa Rica

After two years of decline, the Costa Rican lift and hoist market increased by 35% to $X in 2022. Overall, consumption, however, recorded a perceptible decrease. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Lift And Hoist Exports

Exports from Costa Rica

After two years of decline, overseas shipments of lifts and hoists decreased by 0% to X units in 2022. In general, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 50%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, lift and hoist exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 471% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X units), the United States (X units) and Nicaragua (X units) were the main destinations of lift and hoist exports from Costa Rica, with a combined 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) remains the key foreign market for lifts and hoists exports from Costa Rica, comprising 52% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 24% share of total exports. It was followed by the Dominican Republic, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador stood at +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-3.0% per year) and the Dominican Republic (-8.5% per year).

Export Prices by Country

In 2022, the average lift and hoist export price amounted to $X per unit, surging by 27% against the previous year. In general, the export price, however, saw a pronounced slump. The growth pace was the most rapid in 2014 when the average export price increased by 281%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into Costa Rica

In 2022, purchases abroad of lifts and hoists was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a perceptible reduction. The growth pace was the most rapid in 2017 when imports increased by 49%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, lift and hoist imports soared to $X in 2022. In general, imports, however, showed a slight contraction. The pace of growth appeared the most rapid in 2017 with an increase of 55% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lift and hoist to Costa Rica, with a 60% share of total imports. Moreover, lift and hoist imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), sevenfold. The United States (X units) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-4.7% per year) and the United States (-8.8% per year).

In value terms, China ($X) constituted the largest supplier of lifts and hoists to Costa Rica, comprising 66% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.1% share of total imports. It was followed by the United States, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-3.8% per year) and the United States (-8.7% per year).

Import Prices by Country

The average lift and hoist import price stood at $X per unit in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 84%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform