Peru: Crane Market 2024

Crane Market Size in Peru

The Peruvian crane market reduced remarkably to $X in 2022, falling by -31.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a deep setback. Crane consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Crane Exports

Exports from Peru

In 2022, overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 297% to X units for the first time since 2017, thus ending a four-year declining trend. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 980%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, crane exports surged to $X in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 714%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X units) was the main destination for crane exports from Peru, accounting for a 59% share of total exports. Moreover, crane exports to Chile exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The third position in this ranking was taken by Bolivia (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Chile totaled +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-9.3% per year) and Bolivia (+6.4% per year).

In value terms, Chile ($X) remains the key foreign market for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports from Peru, comprising 58% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 23% share of total exports. It was followed by Colombia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Chile amounted to +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+80.5% per year) and Colombia (+102.5% per year).

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, with an increase of 9.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Bolivia ($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 Ecuador (+4.3%), while the prices for the other major destinations experienced a decline.

Crane Imports

Imports into Peru

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Peru; declining by -29.1% against the year before. Over the period under review, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 182%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports reduced dramatically to $X in 2022. Overall, imports saw a deep setback. The growth pace was the most rapid in 2019 when imports increased by 138%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of crane to Peru, with a 41% share of total imports. Moreover, crane imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.0% per year) and the United States (-21.1% per year).

In value terms, the largest crane suppliers to Peru were China ($X), Germany ($X) and Spain ($X), together accounting for 63% of total imports. The United States, Italy, Austria, Brazil, France, Sweden and Japan lagged somewhat behind, together comprising a further 35%.

Among the main suppliers, Brazil, with a CAGR of +10.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, remaining constant against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 29%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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