Latin America and the Caribbean: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2025

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Latin America and the Caribbean

In 2022, the Latin American market for buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -13.7% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Latin America and the Caribbean

In value terms, ship derrick buckets and shovels production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 8.5% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports in Latin America and the Caribbean

In 2022, exports of buckets, shovels, grabs and grips for ships’ derricks and cranes in Latin America and the Caribbean soared to X units, growing by 36% on the previous year. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ship derrick buckets and shovels exports skyrocketed to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.2% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, finishing at X units, which was approx. 91% of total exports in 2022. It was distantly followed by Chile (X units), constituting a 6.8% share of total exports.

Exports from Mexico increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Chile (+13.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.9% from 2012-2022. While the share of Chile (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-2.5 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest ship derrick buckets and shovels supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was held by Chile ($X), with a 6.2% share of total exports.

In Mexico, ship derrick buckets and shovels exports increased at an average annual rate of +3.4% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, remaining stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 9.9%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Chile totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.5%).

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports in Latin America and the Caribbean

In 2022, overseas purchases of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 7.1% to X units, rising for the second year in a row after two years of decline. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 58%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, ship derrick buckets and shovels imports reduced to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.5% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 51% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Brazil (X units) and Mexico (X units) represented roughly 64% of total imports in 2022. Chile (X units) took the next position in the ranking, distantly followed by Peru (X units). All these countries together took approx. 23% share of total imports. The following importers - Argentina (X units), Colombia (X units) and Suriname (X units) - each recorded a 4.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Brazil (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Mexico ($X) and Brazil ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 84% of total imports.

Brazil, with a CAGR of +14.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, which is down by -16.1% against the previous year. In general, the import price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2020 when the import price increased by 7.9%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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