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

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

The Colombian market for vacuum pumps and air or gas compressors contracted to $X in 2022, declining 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). In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Colombia

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported from Colombia; dropping by -13.8% compared with 2021. Over the period under review, exports saw a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors reduced to $X in 2022. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X units), Ecuador (X units) and Guatemala (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Colombia, with a combined 68% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +96.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Colombia, comprising 45% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 19% share of total exports. It was followed by Peru, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-5.1% per year) and Peru (+15.1% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, rising by 5.2% against the previous year. In general, the export price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 39% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Costa Rica ($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 (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Colombia

In 2022, after five years of growth, there was significant decline in supplies from abroad of vacuum pumps and air or gas compressors, when their volume decreased by -6.4% to X units. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.0% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, imports of vacuum pumps and air or gas compressors dropped dramatically to $X in 2022. Over the period under review, imports showed a mild descent. The pace of growth was the most pronounced in 2021 when imports increased by 51%. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to Colombia, with a 82% 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, Mexico (X units), more than tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-2.0% per year) and Taiwan (Chinese) (+17.4% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Colombia were China ($X), the United States ($X) and Mexico ($X), with a combined 69% share of total imports.

China, with a CAGR of +12.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, dropping by -11.3% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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