In 2021, the Dominican lifting equipment market will grow X% to X dollars, rising for the second consecutive year after three consecutive years of decline. Overall, however, consumption declined slightly. Lifting equipment consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

In value terms, hoisting equipment production is estimated to contract to $X at export prices in 2021. Overall, production showed a clear setback. The growth rate was most pronounced in 2020, with an increase of X%. Lifting equipment production peaked at $X in 2012; however, production is at a lower level from 2013 to 2021.

Dominican Republic’s Lifting Equipment Export Scale
In 2021, after nine years of growth, overseas shipments of lifting equipment saw a significant decline, with sales falling -X% to X units. During the period under review, exports contracted sharply. Growth was the fastest in 2020, up X%. As a result, exports peaked at X units and then dropped significantly the following year.

In value terms, hoisting equipment exports fell rapidly to $X in 2021. Overall, exports faced a sharp decline. The smallest drop of -X% was in 2014. During the period under review, exports hit an all-time high of $X in 2012; however, from 2013 to 2021, exports failed to regain momentum.

The United States (X units) is the main destination for the Dominican Republic’s hoisting equipment exports, accounting for X% of total exports. In addition, exports of lifting equipment to the United States are six times larger than to Antigua and Barbuda, the second largest destination (X units).

From 2012 to 2021, the average annual growth rate of exports to the U.S. will total -X%. Exports to other major destinations recorded the following average annual export growth rates: Antigua and Barbuda (X% per annum) and Haiti (X% per annum).

In value terms, Antigua and Barbuda ($X) emerged as the leading foreign market for the Dominican Republic’s lifting equipment exports, accounting for X% of total exports. In second place is Haiti ($X) with X% of total exports.

The average annual value growth rate for Antigua and Barbuda from 2012 to 2021 was relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Haiti (+X% per annum) and the United States (-X% per annum).

Import Scale of Hoisting Equipment in Dominican Republic
In 2021, imports of lifting equipment to the Dominican Republic jumped to X units, an increase of X% over the previous year. Overall, imports have grown significantly. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Lifting equipment imports surge to $X by value in 2021. Imports continued to show strong growth during the period under review. The most significant growth rate occurred in 2017, when imports increased by X% over the previous year. As a result, imports peaked at X dollars. Import growth will remain low between 2018 and 2021.

In 2021, the United States (X units) is the largest supplier of lifting equipment to the Dominican Republic, accounting for X% of total imports. In addition, imports of hoisting equipment from the United States were twice as high as the number recorded by the second largest supplier, Mexico (X units). Germany (X units) ranks third in terms of total imports with an X% share.

From 2012 to 2021, the average annual growth rate of sales in the United States is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Mexico (+X% per annum) and Germany (+X% per annum).

The United States ($X) is the largest lifting equipment supplier to the Dominican Republic by value, accounting for X% of total imports. In second place is Mexico ($X) with X% of total imports. It is followed by Germany with an X% share.

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

Statistics of various crane suppliers in Dominican Republic
The United States is the largest supplier of lifting equipment to the Dominican Republic by value, accounting for 84% of total imports. In second place was Mexico, which accounted for 4.9% of total imports. It is followed by Germany with a share of 4.8%.

In value terms, Antigua and Barbuda was the main foreign market for the Dominican Republic’s hoisting equipment exports, accounting for 94% of total exports. In second place was Haiti, which accounted for 3.2% of total exports.

The average export price of hoisting equipment in 2021 will be US$6,316 per unit, a year-on-year increase of 3666%.

The average import price of hoisting equipment in 2021 is $2,633 per unit, down -36.7% from the previous year.

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Dominican Republic: Lifting Equipment Market Analysis 2022