Colombia: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Colombia

The Colombian tow-behind air compressor market declined rapidly to $X in 2022, waning by -26.2% 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 recorded a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Tow-Behind Air Compressor Exports

Exports from Colombia

In 2022, tow-behind air compressor exports from Colombia declined to X units, which is down by -14.3% on 2021 figures. Over the period under review, exports saw a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 143%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tow-behind air compressor exports contracted dramatically to $X in 2022. Overall, exports, however, saw tangible growth. The most prominent rate of growth was recorded in 2013 with an increase of 315% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X units) and Panama (X units) were the main destinations of tow-behind air compressor exports from Colombia. Moreover, tow-behind air compressor exports in Ecuador exceeded the figures recorded by the second-largest exporter, Panama, twofold.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +7.2%).

In value terms, Ecuador ($X) remains the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Colombia, comprising 95% of total exports. The second position in the ranking was held by Panama ($X), with a 5.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador amounted to +12.4%.

Export Prices by Country

In 2022, the average tow-behind air compressor export price amounted to $X per unit, shrinking by -20.3% against the previous year. In general, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 an increase of 134% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Panama amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+239.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Colombia

In 2022, tow-behind air compressor imports into Colombia dropped markedly to X units, reducing by -28.1% compared with 2021. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 80% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, tow-behind air compressor imports reduced dramatically to $X in 2022. Over the period under review, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 89% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tow-behind air compressor to Colombia, accounting for a 60% share of total imports. Moreover, tow-behind air compressor imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-21.4% per year) and Germany (-16.8% per year).

In value terms, the largest tow-behind air compressor suppliers to Colombia were China ($X), Germany ($X) and the United States ($X), together comprising 87% of total imports.

Among the main suppliers, China, with a CAGR of +11.4%, saw 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

In 2022, the average tow-behind air compressor import price amounted to $X per unit, with an increase of 6.4% against the previous year. Overall, the import price saw resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 313% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Japan ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+31.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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