Latin America and the Caribbean: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Latin America and the Caribbean

The Latin American jacks and hoists market reached $X in 2022, growing by 3.9% against the previous year. Overall, consumption, however, saw a mild curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Jacks And Hoists Production in Latin America and the Caribbean

In value terms, jacks and hoists production fell to $X in 2022 estimated in export price. Overall, production recorded a pronounced downturn. The most prominent rate of growth was recorded in 2014 with an increase of 8.3% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Jacks And Hoists Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of jacks and hoists for raising vehicles increased by 13% to X units, rising for the second year in a row after three years of decline. Overall, exports, however, saw a deep setback. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports surged to $X in 2022. In general, exports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X units) was the largest exporter of jacks and hoists for raising vehicles, generating 70% of total exports. Brazil (X units) took the second position in the ranking, distantly followed by Argentina (X units). All these countries together held approx. 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to jacks and hoists exports from Mexico stood at -16.4%. Argentina (-3.9%) and Brazil (-5.6%) illustrated a downward trend over the same period. While the share of Brazil (+12 p.p.) and Argentina (+7.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-19.4 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest jacks and hoists supplier in Latin America and the Caribbean, comprising 77% of total exports. The second position in the ranking was held by Brazil ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to -1.5%. In the other countries, the average annual rates were as follows: Brazil (-2.6% per year) and Argentina (-7.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by 9.5% against the previous year. In general, the export price showed a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 57% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+17.9%), while the other leaders experienced mixed trends in the export price figures.

Jacks And Hoists Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of jacks and hoists for raising vehicles were imported in Latin America and the Caribbean; jumping by 30% on 2021 figures. Over the period under review, imports showed a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 69% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, jacks and hoists imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 27%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico represented the main importing country with an import of about X units, which recorded 66% of total imports. Brazil (X units) ranks second in terms of the total imports with an 18% share, followed by Argentina (8%). Chile (X units) held a relatively small share of total imports.

Imports into Mexico increased at an average annual rate of +9.1% from 2012 to 2022. At the same time, Chile (+17.6%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +17.6% from 2012-2022. By contrast, Argentina (-1.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +19 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported jacks and hoists for raising vehicles in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was held by Brazil ($X), with an 18% share of total imports. It was followed by Argentina, with a 9.4% share.

In Mexico, jacks and hoists imports expanded at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+0.9% per year) and Argentina (-3.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, which is down by -14% against the previous year. Overall, the import price showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 when the import price increased by 38% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Chile ($X per unit), while Mexico ($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 (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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