Latin America and the Caribbean: Truck Crane Market 2024

Truck Crane Market Size in Latin America and the Caribbean

After four years of growth, the Latin American truck crane market decreased by -2.2% to $X in 2021. Overall, consumption showed a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Truck Crane Production in Latin America and the Caribbean

In value terms, truck crane production shrank dramatically to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 104% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Truck Crane Exports

Exports in Latin America and the Caribbean

In 2021, the amount of truck cranes exported in Latin America and the Caribbean surged to X units, picking up by 25% on the year before. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 136% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, truck crane exports soared to $X in 2021. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 107% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Mexico (X units) was the largest exporter of truck cranes, committing 42% of total exports. Bolivia (X units) held the second position in the ranking, followed by Brazil (X units), Chile (X units), Nicaragua (X units) and Peru (X units). All these countries together held near 40% share of total exports. Uruguay (X units) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to truck crane exports from Mexico stood at +14.5%. At the same time, Bolivia (+73.4%), Nicaragua (+45.0%), Peru (+32.2%), Uruguay (+11.4%), Chile (+8.7%) and Brazil (+1.1%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +73.4% from 2012-2021. From 2012 to 2021, the share of Mexico, Bolivia, Nicaragua and Peru increased by +14, +12, +5.5 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest truck crane supplier in Latin America and the Caribbean, comprising 37% of total exports. The second position in the ranking was held by Bolivia ($X), with a 15% share of total exports. It was followed by Chile, with a 12% share.

In Mexico, truck crane exports increased at an average annual rate of +10.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bolivia (+68.2% per year) and Chile (+12.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, waning by -2.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the export price increased by 13% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per unit), while Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+12.6%), while the other leaders experienced more modest paces of growth.

Truck Crane Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of truck cranes were imported in Latin America and the Caribbean; with an increase of 22% on 2020 figures. Over the period under review, imports, however, showed a abrupt curtailment. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, truck crane imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the major importing country with an import of around X units, which recorded 35% of total imports. Mexico (X units) ranks second in terms of the total imports with a 16% share, followed by Chile (12%), Argentina (7.4%) and Guatemala (7%). Cuba (X units), El Salvador (X units), Colombia (X units), Peru (X units), Honduras (X units) and Paraguay (X units) held a relatively small share of total imports.

Imports into Brazil decreased at an average annual rate of -8.5% from 2012 to 2021. At the same time, El Salvador (+16.8%), Guatemala (+13.1%), Honduras (+8.5%), Cuba (+6.9%) and Argentina (+1.6%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.8% from 2012-2021. By contrast, Chile (-5.0%), Mexico (-8.0%), Peru (-13.4%), Colombia (-19.0%) and Paraguay (-19.9%) illustrated a downward trend over the same period. While the share of Guatemala (+6 p.p.), Argentina (+4.5 p.p.), Chile (+3.2 p.p.), Cuba (+3.2 p.p.) and El Salvador (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Peru (-1.5 p.p.), Paraguay (-4 p.p.) and Colombia (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported truck cranes in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was held by Mexico ($X), with a 16% share of total imports. It was followed by Chile, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled -12.1%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-9.6% per year) and Chile (-6.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, falling by -1.6% against the previous year. Overall, the import price showed a pronounced descent. The pace of growth was the most pronounced in 2019 an increase of 3.8%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Peru ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+12.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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