Bolivia: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Bolivia

The Bolivian refrigerator compressor market surged to $X in 2022, jumping by 37% 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, however, saw a mild downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Compressor Exports

Exports from Bolivia

In 2022, exports of compressors for refrigeration equipment from Bolivia soared to X units, growing by 250% compared with the year before. Overall, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 800%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 492%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for refrigerator compressor exports from Bolivia, accounting for a 90% share of total exports. Moreover, refrigerator compressor exports to Germany exceeded the volume sent to the second major destination, Chile (X units), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled -8.7%.

In value terms, Germany ($X) emerged as the key foreign market for compressors for refrigeration equipment exports from Bolivia, comprising 91% of total exports. The second position in the ranking was held by Chile ($X), with an 8.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +8.0%.

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, rising by 35% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor export price increased by +21.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 79% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Chile amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Compressor Imports

Imports into Bolivia

In 2022, approx. X units of compressors for refrigeration equipment were imported into Bolivia; increasing by 39% against the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refrigerator compressor imports surged to $X in 2022. In general, imports, however, continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 71%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil (X units), China (X units) and Turkey (X units) were the main suppliers of refrigerator compressor imports to Bolivia, with a combined 87% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +83.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator compressor suppliers to Bolivia were Brazil ($X), China ($X) and Spain ($X), together accounting for 60% of total imports. Turkey and Colombia lagged somewhat behind, together comprising a further 2.4%.

In terms of the main suppliers, Turkey, with a CAGR of +48.1%, recorded the highest rates of growth with regard to the value of imports, 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 refrigerator compressor import price amounted to $X per unit, declining by -1.6% against the previous year. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 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 Spain ($X per unit), while the price for Turkey ($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 (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform