Latin America and the Caribbean: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Latin America and the Caribbean

The Latin American mounting lifting equipment market expanded significantly to $X in 2021, increasing by 7.8% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Production in Latin America and the Caribbean

In value terms, mounting lifting equipment production reached $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.9% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 47% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Mounting Lifting Equipment Exports

Exports in Latin America and the Caribbean

Mounting lifting equipment exports soared to X units in 2021, growing by 67% compared with the previous year. Over the period under review, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, mounting lifting equipment exports surged to $X in 2021. Overall, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil dominates exports structure, accounting for X units, which was near 77% of total exports in 2021. It was distantly followed by Mexico (X units) and Argentina (X units), together mixing up a 15% share of total exports. The following exporters - Chile (X units) and Colombia (X units) - each resulted at a 5.9% share of total exports.

Brazil was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles exports, with a CAGR of +20.7% from 2012 to 2021. At the same time, Chile (+5.0%) displayed positive paces of growth. Argentina experienced a relatively flat trend pattern. By contrast, Colombia (-2.6%) and Mexico (-7.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +44 percentage points.

In value terms, Brazil ($X) remains the largest mounting lifting equipment supplier in Latin America and the Caribbean, comprising 77% of total exports. The second position in the ranking was taken by Argentina ($X), with a 9% share of total exports. It was followed by Chile, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at +11.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+3.2% per year) and Chile (+4.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, increasing by 4.6% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when the export price increased by 16%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+2.4%), while the other leaders experienced a decline in the export price figures.

Mounting Lifting Equipment Imports

Imports in Latin America and the Caribbean

In 2021, the amount of lifting equipment designed for mounting on road vehicles imported in Latin America and the Caribbean skyrocketed to X units, rising by 50% on the year before. In general, imports, however, continue to indicate a perceptible downturn. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Overall, imports, however, recorded a perceptible contraction. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Chile represented the largest importing country with an import of around X units, which reached 38% of total imports. Argentina (X units) took the second position in the ranking, distantly followed by El Salvador (X units), Mexico (X units), Colombia (X units), Peru (X units) and Uruguay (X units). All these countries together held near 52% share of total imports.

Imports into Chile decreased at an average annual rate of -3.9% from 2012 to 2021. At the same time, El Salvador (+93.0%), Uruguay (+7.5%), Colombia (+5.4%) and Argentina (+3.2%) 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 +93.0% from 2012-2021. By contrast, Peru (-9.3%) and Mexico (-13.1%) illustrated a downward trend over the same period. El Salvador (+8.4 p.p.), Argentina (+7.9 p.p.), Colombia (+4.7 p.p.) and Uruguay (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Peru and Mexico saw its share reduced by -3.6% and -11.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports. It was followed by Peru, with a 10% share.

In Chile, mounting lifting equipment imports shrank by an average annual rate of -1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (+3.0% per year) and Peru (-4.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, reducing by -8.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 28% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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