Peru: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Peru

In 2022, the amount of buckets, shovels, grabs and grips for ships’ derricks and cranes exported from Peru fell significantly to X units, which is down by -35.9% compared with the previous year. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2016 with an increase of 327% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ship derrick buckets and shovels exports contracted remarkably to $X in 2022. Overall, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 352%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X units), Bolivia (X units) and the United States (X units) were the main destinations of ship derrick buckets and shovels exports from Peru, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +6.2%), while the other leaders experienced a decline.

In value terms, Chile ($X) remains the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Peru, comprising 70% of total exports. The second position in the ranking was taken by Bolivia ($X), with a 19% share of total exports. It was followed by the United States, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-19.0% per year) and the United States (-6.8% per year).

Export Prices by Country

The average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, with a decrease of -2.9% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship derrick buckets and shovels export price increased by +11.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 59% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Peru

In 2022, ship derrick buckets and shovels imports into Peru shrank rapidly to X units, with a decrease of -18.7% on the previous year. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. As a result, imports reached the peak of X units, and then contracted notably in the following year.

In value terms, ship derrick buckets and shovels imports shrank dramatically to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

China (X units), the United States (X units) and South Korea (X units) were the main suppliers of ship derrick buckets and shovels imports to Peru, together accounting for 83% of total imports. Canada, Mexico, Turkey and Spain lagged somewhat behind, together accounting for a further 8.1%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +33.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) constituted the largest ship derrick buckets and shovels suppliers to Peru, together accounting for 75% of total imports. These countries were followed by Canada, Mexico, Spain and Turkey, which together accounted for a further 11%.

In terms of the main suppliers, Turkey, with a CAGR of +128.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, shrinking by -3.1% against the previous year. Over the period under review, the import price showed a slight reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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