Bolivia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Bolivia

The Bolivian market for vacuum pumps and air or gas compressors reduced sharply to $X in 2022, which is down by -17.3% 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). Over the period under review, consumption continues to indicate a deep slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Bolivia

In 2022, shipments abroad of vacuum pumps and air or gas compressors decreased by -70.8% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 17,373%. Over the period under review, the exports of attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors declined significantly to $X in 2022. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 1,191% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Peru (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Bolivia, accounting for a 58% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to Peru exceeded the volume sent to the second major destination, Chile (X units), twofold. The United States (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Peru stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+28.6% per year) and the United States (+43.3% per year).

In value terms, the largest markets for vacuum pump and air or gas compressor exported from Bolivia were Chile ($X), the United States ($X) and Peru ($X), with a combined 85% share of total exports.

In terms of the main countries of destination, Peru, with a CAGR of +20.2%, recorded the highest rates of growth with regard to 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

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, with a decrease of -24% against the previous year. Overall, the export price showed a precipitous contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 178%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Peru ($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 Peru (+5.8%), while the prices for the other major destinations experienced a decline.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Bolivia

In 2022, imports of vacuum pumps and air or gas compressors into Bolivia fell remarkably to X units, which is down by -31.7% against the previous year's figure. In general, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 49%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of vacuum pumps and air or gas compressors surged to $X in 2022. Overall, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 183% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Bolivia, with a 74% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), tenfold. The third position in this ranking was taken by Argentina (X units), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.6% per year) and Argentina (-7.0% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Bolivia were China ($X), Brazil ($X) and the United States ($X), together comprising 60% of total imports. Belgium, Argentina, Turkey and Ecuador lagged somewhat behind, together accounting for a further 23%.

Turkey, with a CAGR of +34.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, surging by 69% against the previous year. Overall, the import price enjoyed slight growth. The pace of growth appeared the most rapid in 2013 an increase of 129% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 the United States ($X per unit), while the price for Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform