In 2021, after two years of growth, the Colombian lifting equipment market has experienced a significant decline, decreasing its value by -X% to X dollars. During the period under review, consumption declined sharply. Lifting equipment consumption peaked at $X in 2015; however, consumption is at a lower level from 2016 to 2021.

The size of Colombia’s hoisting equipment exports
Overseas shipments of lifting equipment will increase by X% to X units in 2021, the second consecutive year of growth after four years of decline. During the period under review, exports showed significant growth. The fastest growth in 2020, with exports up X%. Exports peaked in 2021 and are likely to grow steadily over the next few years.

In terms of value, hoisting equipment exports surged to $X in 2021. Overall, exports continued to grow significantly. The most significant growth rate occurred in 2015, with an increase of X%. During the period under review, exports peaked in 2021 and may continue to grow in the short term.

The United States (X units) is the main destination for Colombian hoisting equipment exports, accounting for about X% of total exports. From 2012 to 2021, the average annual growth rate of freight traffic to the United States is +X%.

In terms of value, the United States ($X) remains the main foreign market for Colombian lifting equipment exports. From 2012 to 2021, the average annual growth in value to the U.S. will total +X%.

Import size of lifting equipment in Colombia
In 2021, overseas purchases of lifting equipment fell -X% to X units for the first time since 2018, ending a two-year upward trend. During the period under review, imports continued to show marked declines. The fastest growth was recorded in 2013, with imports increasing by X%. During the period under review, imports peaked at X units in 2015; however, imports declined slightly from 2016 to 2021.

Lifting equipment imports fell to $X in 2021 by value. Overall, imports continue to show sharp declines. The fastest growth was in 2013, with 3 ton gantry crane imports increasing by X% year-on-year. Imports peaked at $X in 2014; however, from 2015 to 2021, import volumes have remained low.

China (X units), Italy (X units) and the United States (X units) are the main suppliers of lifting equipment imported to Colombia, accounting for X% of total imports. From 2012 to 2021, the largest increase was in Italy (+X% CAGR), while procurement by other leaders experienced a mixed trend pattern.

By value, Italy (USD X) is the largest supplier of lifting equipment to Colombia, accounting for X% of total imports. In second place is China ($X) with X% of total imports. It is followed by the United States with an X% share.

From 2012 to 2021, the average annual growth rate of Italian value is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per year) and the United States (-X% per year).

Statistics of various crane suppliers in Colombia
Italy is Colombia’s largest supplier of lifting equipment by value, accounting for 52% of total imports. In second place is China, which accounts for 13% of total imports. It is followed by the United States with a share of 6.2%.

In terms of value, the United States remains the main foreign market for Colombian lifting equipment exports.

The average export price of hoisting equipment in 2021 is $1,091 per unit, down -20.3% from the previous year.

The average import price of hoisting equipment in 2021 will be US$1,653 per unit, a year-on-year increase of 16%.

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Columbia Lifting Equipment Market Analysis 2022