U.S.: Market for Overhead Traveling Cranes, Hoists, And Monorail Systems 2024

Market Size for Overhead Traveling Cranes, Hoists, And Monorail Systems in the U.S.

The U.S. market for overhead traveling cranes, hoists, and monorail systems skyrocketed to $X in 2022, rising by X% 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 continues to indicate a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Overhead Traveling Cranes, Hoists, And Monorail Systems

Exports from the U.S.

In 2022, overseas shipments of overhead traveling cranes, hoists, and monorail systems decreased by X% to X tons for the first time since 2012, thus ending a nine-year rising trend. Overall, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, exports of overhead traveling cranes, hoists, and monorail systems rose significantly to $X in 2022. Over the period under review, exports recorded a deep reduction. Over the period under review, the exports of attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for exports of overhead traveling cranes, hoists, and monorail systems from the United States, with a X% share of total exports. Moreover, exports of overhead traveling cranes, hoists, and monorail systems to Mexico exceeded the volume sent to the second major destination, Canada (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.

From 2020 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Canada ($X) remains the key foreign market for overhead traveling cranes, hoists, and monorail systems exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2020 to 2022, the average annual growth rate of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2022, the average export price for overhead traveling cranes, hoists, and monorail systems amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Overhead Traveling Cranes, Hoists, And Monorail Systems

Imports into the U.S.

Imports of overhead traveling cranes, hoists, and monorail systems into the United States surged to X tons in 2022, jumping by X% against the year before. In general, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of overhead traveling cranes, hoists, and monorail systems rose significantly to $X in 2022. Overall, total imports indicated a resilient increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest overhead traveling crane, hoist, and monorail system supplier to the United States, accounting for a X% share of total imports. Moreover, imports of overhead traveling cranes, hoists, and monorail systems from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2020 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Japan (X% per year).

In value terms, China ($X), Canada ($X) and Japan ($X) appeared to be the largest overhead traveling crane, hoist, and monorail system suppliers to the United States, together accounting for X% of total imports. Mexico, Germany, Italy and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 overhead traveling cranes, hoists, and monorail systems amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then dropped markedly in the following year.

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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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