U.S.: Lifting Equipment Market 2024

Lifting Equipment Market Size in the U.S.

The U.S. lifting equipment market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Lifting Equipment Production in the U.S.

In value terms, lifting equipment production surged to $X in 2021. Overall, production, however, recorded a slight setback. The pace of growth was the most pronounced in 2016 with an increase of 236% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Lifting Equipment Exports

Exports from the U.S.

In 2021, overseas shipments of lifting equipment were finally on the rise to reach X units after two years of decline. Overall, exports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 70% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, lifting equipment exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Canada (X units) and Mexico (X units) were the main destinations of lifting equipment exports from the United States, together comprising 51% of total exports. These countries were followed by Guyana, the UK, Chile, Brazil, Taiwan (Chinese), Turkey, Colombia, Japan, Germany and China, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +52.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Canada ($X) and Mexico ($X) were the largest markets for lifting equipment exported from the United States worldwide, with a combined 52% share of total exports. Guyana, the UK, Brazil, Chile, Turkey, Taiwan (Chinese), Germany, Japan, Colombia and China lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Turkey, with a CAGR of +57.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lifting equipment export price amounted to $X per unit, growing by 15% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 24%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into the U.S.

In 2021, supplies from abroad of lifting equipment was finally on the rise to reach X units after two years of decline. Over the period under review, imports posted a modest increase. The growth pace was the most rapid in 2018 with an increase of 951%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, lifting equipment imports expanded significantly to $X in 2021. In general, imports posted measured growth. The growth pace was the most rapid in 2018 with an increase of 86% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X units), Sweden (X units) and Poland (X units) were the main suppliers of lifting equipment imports to the United States, together comprising 51% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +64.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of lifting equipment to the United States, comprising 43% of total imports. The second position in the ranking was taken by the UK ($X), with an 11% share of total imports. It was followed by Germany, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+36.0% per year) and Germany (-3.5% per year).

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, with a decrease of -29.3% against the previous year. Overall, the import price, however, recorded a pronounced expansion. The growth pace was the most rapid in 2019 when the average import price increased by 272% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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