U.S.: Crane Market 2024

Crane Market Size in the U.S.

The U.S. crane market totaled $X in 2022, flattening at the previous year. Over the period under review, consumption, however, recorded a mild reduction. Crane consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crane Production in the U.S.

In value terms, crane production rose rapidly to $X in 2022. In general, production, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2020 with an increase of 35%. Crane production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crane Exports

Exports from the U.S.

In 2022, after two years of decline, there was significant growth in shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, when their volume increased by 49% to X units. Over the period under review, exports, however, showed a abrupt setback. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, crane exports rose markedly to $X in 2022. Overall, exports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 11%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for crane exports from the United States, accounting for a 61% share of total exports. Moreover, crane exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), ninefold. The Dominican Republic (X units) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-12.7% per year) and the Dominican Republic (+17.1% per year).

In value terms, Canada ($X) remains the key foreign market for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports from the United States, comprising 43% of total exports. The second position in the ranking was taken by Mexico ($X), with a 14% share of total exports. It was followed by the UK, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-6.7% per year) and the UK (-2.8% per year).

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, reducing by -25.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 33%. As a result, the export price attained the peak level of $X per unit, and then declined dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to the Dominican Republic ($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 the United Arab Emirates (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into the U.S.

In 2022, overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by -16.2% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, crane imports reduced modestly to $X in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.7% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 37%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Poland (X units) were the main suppliers of crane imports to the United States, with a combined 45% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +52.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and Poland ($X) appeared to be the largest crane suppliers to the United States, together comprising 54% of total imports.

Among the main suppliers, Poland, with a CAGR of +53.8%, recorded the highest rates of growth with regard to 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 crane import price amounted to $X per unit, picking up by 18% against the previous year. Over the period under review, the import price posted a prominent increase. The growth pace was the most rapid in 2020 when the average import price increased by 66%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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