U.S.: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in the U.S.

The U.S. market for buckets, shovels, grabs and grips for ships’ derricks and cranes skyrocketed to $X in 2022, surging by 18% against the previous year. Overall, consumption posted a buoyant increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in the U.S.

In value terms, ship derrick buckets and shovels production rose notably to $X in 2022. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -8.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 55% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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

Exports from the U.S.

In 2022, shipments abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 16% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, faced a abrupt decline. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ship derrick buckets and shovels exports surged to $X in 2022. In general, exports, however, showed a noticeable decline. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Australia (X units) and Canada (X units) were the main destinations of ship derrick buckets and shovels exports from the United States, with a combined 37% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +13.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) remains the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from the United States, comprising 38% of total exports. The second position in the ranking was held by Chile ($X), with a 9% share of total exports. It was followed by Australia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+0.8% per year) and Australia (-6.1% 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, surging by 5.7% against the previous year. In general, the export price posted a remarkable increase. The growth pace was the most rapid in 2020 when the average export price increased by 97% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Norway ($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 Canada (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into the U.S.

In 2022, overseas purchases of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 41% to X units, rising for the second consecutive year after two years of decline. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 76% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, ship derrick buckets and shovels imports surged to $X in 2022. Overall, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ship derrick buckets and shovels to the United States, with a 46% share of total imports. Moreover, ship derrick buckets and shovels imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was held by Spain (X units), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-1.9% per year) and Spain (+23.5% per year).

In value terms, the largest ship derrick buckets and shovels suppliers to the United States were Mexico ($X), China ($X) and Canada ($X), together accounting for 72% of total imports. India, Italy, Germany, Sweden, South Korea, Spain, Indonesia and France lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, India, with a CAGR of +35.0%, 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

In 2022, the average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, with an increase of 8% against the previous year. Over the period under review, the import price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2020 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, 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 Mexico ($X per unit), while the price for Spain ($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 (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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