Northern America: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Northern America

After three years of growth, the North American mounting lifting equipment market decreased by -3.4% to $X in 2021. In general, consumption, however, showed a resilient expansion. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Mounting Lifting Equipment Production in Northern America

In value terms, mounting lifting equipment production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 84%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Mounting Lifting Equipment Exports

Exports in Northern America

In 2021, overseas shipments of lifting equipment designed for mounting on road vehicles decreased by -25.8% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, mounting lifting equipment exports shrank notably to $X in 2021. Overall, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 43%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X units) was the major exporter of lifting equipment designed for mounting on road vehicles, creating 78% of total exports. It was distantly followed by Canada (X units), achieving a 22% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mounting lifting equipment exports from the United States stood at -9.7%. Canada experienced a relatively flat trend pattern. While the share of Canada (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-11.9 p.p.) displayed negative dynamics.

In value terms, the largest mounting lifting equipment supplying countries in Northern America were the United States ($X) and Canada ($X).

In terms of the main exporting countries, Canada, with a CAGR of +7.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2021, rising by 9.1% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mounting lifting equipment export price increased by +73.4% against 2013 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 26%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+7.4%).

Mounting Lifting Equipment Imports

Imports in Northern America

In 2021, purchases abroad of lifting equipment designed for mounting on road vehicles decreased by -4% to X units, falling for the second year in a row after three years of growth. Overall, imports saw a mild reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 58%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, mounting lifting equipment imports expanded notably to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 25% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Canada represented the main importer of lifting equipment designed for mounting on road vehicles in Northern America, with the volume of imports amounting to X units, which was approx. 74% of total imports in 2021. It was distantly followed by the United States (X units), generating a 26% share of total imports.

Canada experienced a relatively flat trend pattern with regard to volume of imports of lifting equipment designed for mounting on road vehicles. The United States (-5.7%) illustrated a downward trend over the same period. While the share of Canada (+12 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United States (-12.4 p.p.) displayed negative dynamics.

In value terms, the largest mounting lifting equipment importing markets in Northern America were the United States ($X) and Canada ($X).

Among the main importing countries, the United States, with a CAGR of +1.8%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per unit, growing by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2020 an increase of 41% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.0%).

Source: IndexBox Platform

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