Latin America and the Caribbean: Loading Machinery Market 2024

Loading Machinery Market Size in Latin America and the Caribbean

The Latin American loading machinery market amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Loading Machinery Production in Latin America and the Caribbean

In value terms, loading machinery production reached $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.9% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 15%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Loading Machinery Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of lifting, handling, loading or unloading machinery increased by 49% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 71%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, loading machinery exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 74%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, amounting to X units, which was approx. 91% of total exports in 2022. The following exporters - Colombia (X units), Argentina (X units) and Brazil (X units) - together made up 6.2% of total exports.

From 2012 to 2022, average annual rates of growth with regard to loading machinery exports from Mexico stood at +8.8%. At the same time, Colombia (+24.6%) and Brazil (+1.8%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +24.6% from 2012-2022. By contrast, Argentina (-8.3%) illustrated a downward trend over the same period. Mexico (+9.2 p.p.) and Colombia (+2 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -7.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest loading machinery supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was held by Argentina ($X), with a 1.9% share of total exports. It was followed by Brazil, with a 1.8% share.

In Mexico, loading machinery exports increased at an average annual rate of +9.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-9.1% per year) and Brazil (-3.0% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, which is down by -9.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 13% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Colombia ($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 (+0.2%), while the other leaders experienced a decline in the export price figures.

Loading Machinery Imports

Imports in Latin America and the Caribbean

In 2022, loading machinery imports in Latin America and the Caribbean was estimated at X units, with an increase of 12% against 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, loading machinery imports rose rapidly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Mexico was the largest importer of lifting, handling, loading or unloading machinery in Latin America and the Caribbean, with the volume of imports accounting for X units, which was near 45% of total imports in 2022. Brazil (X units) took the second position in the ranking, followed by Chile (X units), Argentina (X units) and Peru (X units). All these countries together held approx. 37% share of total imports. The following importers - Colombia (X units) and Venezuela (X units) - each amounted to a 5.4% share of total imports.

Imports into Mexico increased at an average annual rate of +4.3% from 2012 to 2022. At the same time, Chile (+8.7%) and Peru (+1.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +8.7% from 2012-2022. By contrast, Argentina (-1.1%), Colombia (-2.9%), Venezuela (-6.7%) and Brazil (-10.5%) illustrated a downward trend over the same period. Mexico (+17 p.p.) and Chile (+7 p.p.) significantly strengthened its position in terms of the total imports, while Venezuela and Brazil saw its share reduced by -2.4% and -24.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported lifting, handling, loading or unloading machinery in Latin America and the Caribbean, comprising 42% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports. It was followed by Chile, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at +5.0%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-7.6% per year) and Chile (+8.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, falling by -1.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 6.7%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 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 Brazil ($X per unit), while Peru ($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 (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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