Chile: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in Chile

The Chilean brakes and servo-brakes market rose significantly to $X in 2022, surging by 13% 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, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +70.9% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Brakes And Servo-Brakes Exports

Exports from Chile

After two years of decline, shipments abroad of brakes and servo-brakes increased by 70% to X tons in 2022. In general, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2015 with an increase of 85% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, brakes and servo-brakes exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 77% against the previous year. Over the period under review, the exports reached 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), Bolivia (X tons) and Australia (X tons) were the main destinations of brakes and servo-brakes exports from Chile, together comprising 84% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +132.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for brakes and servo-brakes exported from Chile were Bolivia ($X), the United States ($X) and Paraguay ($X), together accounting for 80% of total exports. Australia, Peru, Belgium and Ecuador lagged somewhat behind, together accounting for a further 18%.

Australia, with a CAGR of +119.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average brakes and servo-brakes export price stood at $X per ton in 2022, which is down by -5.5% against the previous year. In general, the export price saw a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Paraguay ($X per ton), while the average price for exports to the United States ($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 Paraguay (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Brakes And Servo-Brakes Imports

Imports into Chile

In 2022, approx. X tons of brakes and servo-brakes were imported into Chile; waning by -13.4% compared with 2021 figures. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 80%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, brakes and servo-brakes imports soared to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of brakes and servo-brakes to Chile, accounting for a 58% share of total imports. Moreover, brakes and servo-brakes imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.3% per year) and the United States (+0.4% per year).

In value terms, the largest brakes and servo-brakes suppliers to Chile were China ($X), the United States ($X) and Brazil ($X), together comprising 66% of total imports.

China, with a CAGR of +8.0%, saw 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

In 2022, the average brakes and servo-brakes import price amounted to $X per ton, jumping by 53% against the previous year. In general, the import price, however, continues to indicate a mild shrinkage. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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