Brazil: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Brazil

The Brazilian machinery electrical parts market shrank slightly to $X in 2022, waning by -4.7% against the previous year. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.4% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Brazil

In value terms, machinery electrical parts production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Brazil

In 2022, overseas shipments of electrical parts of machinery or apparatus decreased by -48.2% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2014 when exports increased by 473% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, machinery electrical parts exports declined notably to $X in 2022. In general, exports saw a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of 179% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for machinery electrical parts exports from Brazil, with a 62% share of total exports. Moreover, machinery electrical parts exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The Philippines (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-24.9% per year) and the Philippines (+19.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for electrical parts of machinery or apparatus exports from Brazil, comprising 58% of total exports. The second position in the ranking was taken by Argentina ($X), with a 23% share of total exports. It was followed by Belgium, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+1.4% per year) and Belgium (+32.4% per year).

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, with a decrease of -20.6% against the previous year. In general, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2021 an increase of 70%. As a result, the export price attained the peak level of $X per ton, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+33.6%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Brazil

In 2022, after three years of growth, there was significant decline in purchases abroad of electrical parts of machinery or apparatus, when their volume decreased by -79.4% to X tons. In general, imports faced a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, machinery electrical parts imports dropped remarkably to $X in 2022. Over the period under review, imports faced a deep slump. The pace of growth was the most pronounced in 2021 when imports increased by 140% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest machinery electrical parts supplier to Brazil, accounting for a 82% share of total imports. Moreover, machinery electrical parts imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), ninefold. Switzerland (X kg) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+6.9% per year) and Switzerland (+62.0% per year).

In value terms, the largest machinery electrical parts suppliers to Brazil were China ($X), Switzerland ($X) and Spain ($X), together accounting for 91% of total imports.

Among the main suppliers, Switzerland, with a CAGR of +84.2%, recorded the highest growth rate of 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

The average machinery electrical parts import price stood at $X per ton in 2022, picking up by 1.6% against the previous year. Overall, the import price enjoyed a modest expansion. The growth pace was the most rapid in 2021 when the average import price increased by 49%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Switzerland ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :