Latin America and the Caribbean: Crane Market 2025

Crane Market Size in Latin America and the Caribbean

The Latin American crane market expanded significantly to $X in 2022, surging by 8.8% against the previous year. Over the period under review, consumption, however, saw a pronounced reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crane Production in Latin America and the Caribbean

In value terms, crane production declined slightly to $X in 2022 estimated in export price. In general, production showed a pronounced slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded decline in overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, which decreased by -10.5% to X units in 2022. In general, exports saw a noticeable downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 69%. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, crane exports declined to $X in 2022. Over the period under review, exports recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 with an increase of 94% 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

Brazil was the key exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Latin America and the Caribbean, with the volume of exports reaching X units, which was approx. 41% of total exports in 2022. Chile (X units) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (11%), the Dominican Republic (5.4%) and Panama (5.2%). Colombia (X units), Argentina (X units), Venezuela (X units), Bahamas (X units), Peru (X units) and Jamaica (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crane exports from Brazil stood at +1.8%. At the same time, Peru (+37.8%), Jamaica (+30.9%) and Panama (+19.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +37.8% from 2012-2022. By contrast, Colombia (-2.6%), Argentina (-3.3%), Chile (-4.1%), Mexico (-5.2%), Bahamas (-11.5%), Venezuela (-12.4%) and the Dominican Republic (-15.7%) illustrated a downward trend over the same period. Brazil (+18 p.p.), Panama (+4.6 p.p.), Peru (+2.1 p.p.) and Jamaica (+2 p.p.) significantly strengthened its position in terms of the total exports, while Mexico, Bahamas, Venezuela and the Dominican Republic saw its share reduced by -1.5%, -2.9%, -4.3% and -14.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest crane supplier in Latin America and the Caribbean, comprising 50% of total exports. The second position in the ranking was held by Chile ($X), with a 16% share of total exports. It was followed by Mexico, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +1.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-2.5% per year) and Mexico (-5.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, surging by 11% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crane export price increased by +36.6% against 2020 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 25% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+5.7%), while the other leaders experienced more modest paces of growth.

Crane Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported in Latin America and the Caribbean; rising by 30% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a abrupt downturn. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports skyrocketed to $X in 2022. Overall, imports, however, saw a abrupt contraction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X units), distantly followed by Chile (X units), Brazil (X units), Costa Rica (X units) and Argentina (X units) represented the key importers of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, together achieving 72% of total imports. The following importers - Peru (X units), Panama (X units), Ecuador (X units), Uruguay (X units), Trinidad and Tobago (X units), the Dominican Republic (X units) and Colombia (X units) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +55.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crane importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Brazil ($X), together accounting for 59% of total imports. Costa Rica, Argentina, Peru, Ecuador, Colombia, the Dominican Republic, Panama, Uruguay and Trinidad and Tobago lagged somewhat behind, together accounting for a further 34%.

Panama, with a CAGR of +53.7%, saw the highest rates of growth with regard to 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, dropping by -7.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 7.3%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Brazil ($X per unit), while Trinidad and Tobago ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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