U.S.: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in the U.S.

The U.S. overhead travelling crane market expanded modestly to $X in 2022, rising by 4.8% against the previous year. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.8% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Overhead Travelling Crane Production in the U.S.

In value terms, overhead travelling crane production expanded notably to $X in 2022. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Overhead Travelling Crane Exports

Exports from the U.S.

In 2022, shipments abroad of overhead travelling cranes on fixed support increased by 52% to X units, rising for the second year in a row after four years of decline. In general, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 60% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, overhead travelling crane exports soared to $X in 2022. Overall, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2015 when exports increased by 122%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for overhead travelling crane exports from the United States, with a 52% share of total exports. Moreover, overhead travelling crane exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was taken by Vietnam (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+7.7% per year) and Vietnam (+47.6% per year).

In value terms, Canada ($X), Mexico ($X) and India ($X) were the largest markets for overhead travelling crane exported from the United States worldwide, with a combined 84% share of total exports. Chile, Vietnam, Ireland and Brazil lagged somewhat behind, together accounting for a further 5.9%.

In terms of the main countries of destination, Vietnam, with a CAGR of +54.8%, recorded 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

The average overhead travelling crane export price stood at $X per unit in 2022, growing by 22% against the previous year. Overall, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 39%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Vietnam ($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 Vietnam (+1.4%), while the prices for the other major destinations experienced a decline.

Overhead Travelling Crane Imports

Imports into the U.S.

In 2022, overhead travelling crane imports into the United States soared to X units, jumping by 19% on the previous year's figure. Over the period under review, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 274%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, overhead travelling crane imports expanded markedly to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 263% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Canada (X units) constituted the largest supplier of overhead travelling crane to the United States, accounting for a 54% share of total imports. Moreover, overhead travelling crane imports from Canada exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Spain (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.8% per year) and Spain (+2.2% per year).

In value terms, Canada ($X), Japan ($X) and Italy ($X) constituted the largest overhead travelling crane suppliers to the United States, together accounting for 75% of total imports. The UK, Spain, China and Turkey lagged somewhat behind, together accounting for a further 18%.

In terms of the main suppliers, the UK, with a CAGR of +86.3%, 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 overhead travelling crane import price amounted to $X per unit, waning by -9.8% against the previous year. Over the period under review, the import price, however, posted a tangible increase. The pace of growth appeared the most rapid in 2020 an increase of 92% 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 2022, import prices stood at a somewhat 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 Japan ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+37.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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