In 2021, the Uruguay lifting equipment market fell -X% to $X for the first time since 2018, ending a two-year uptrend. During the period under review, consumption showed a strong growth trend. Lifting equipment consumption peaked at $X in 2016; however, consumption has remained low from 2017 to 2021.
In 2021, overseas shipments of lifting equipment will increase by X% to X units, the second consecutive year of growth after two years of decline. During the period under review, exports increased significantly. The most significant growth rate occurred in 2020, when exports increased by X% over the previous year. Exports hit an all-time high in 2021 during the review period and are likely to continue growing in the years to come.
In value terms, hoisting equipment exports fell significantly to $X in 2021. Overall, exports continued to show strong growth. The most significant growth rate occurred in 2020, with an X% increase compared to the previous year. As a result, exports peaked at X dollars before falling sharply the following year.
Lebanon (X units) is the main destination for Uruguay's lifting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to Lebanon exceeded exports to the second largest destination, France (X units) by more than ten times.
From 2012 to 2021, the average annual growth rate of shipments to Lebanon has been relatively modest. Exports to other major destinations recorded the following average annual export growth rates: France (X% per annum) and Argentina (+X% per annum).
By value, the largest markets for lifting equipment exports from Uruguay are Lebanon ($X), France ($X) and Argentina ($X in Argentina, the main destination country, with a CAGR of +X%, recording a During the period under review, the growth rate in export value was the highest, while the other leaders saw a more moderate growth rate in shipments.
Uruguay's foreign supply of lifting equipment has grown for the fourth consecutive year, increasing by X% to X units in 2021. Overall, imports showed resilient growth. The most significant growth rate occurred in 2015, which was an X% increase compared to the previous year. During the period under review, imports peaked in 2021 and are likely to increase steadily over the next few years.
Lifting equipment imports fell to X dollars in 2021 by value. Overall, imports have grown significantly. The most significant growth rate occurred in 2015, when imports increased by X%. Imports peaked at $X in 2016; however, imports declined slightly from 2017 to 2021.
In 2021, Turkey (X units) is the largest supplier of lifting equipment to Uruguay, accounting for X% of total imports. In addition, the import of lifting equipment from Turkey was four times higher than the number recorded by the second largest supplier, China (X units). Spain ranks third (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of sales in Turkey is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and Spain (+X% per annum). Brazil ($X), the United States ($X) and Turkey ($X) are the largest lifting equipment suppliers to Uruguay by value, together accounting for X% of total imports. Germany, Spain, Finland, UK, Mexico, China, Italy and Belgium are somewhat lagging behind and together make up an additional X UK with a CAGR of +X% and the highest growth in import value, during the period under review the main suppliers of purchases grew more slowly, while purchases by other leaders grew more modestly.
Brazil, the United States and Turkey are the largest suppliers of lifting equipment to Uruguay by value, accounting for 54% of total imports. This is followed by Germany, Spain, Finland, the United Kingdom, Mexico, China, Italy and Belgium, which together account for 39%.
In value terms, Lebanon, France and Argentina are the largest markets for Uruguay's lifting equipment exports worldwide.
The average export price of hoisting equipment in 2021 will be US$432/unit, a decrease of -68.6% from the previous year.
The average import price of hoisting equipment in 2021 is $1,430 per unit, down -24.5% from the previous year.
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