Colombia: Vapour Power Unit Market 2024

Vapour Power Unit Market Size in Colombia

The Colombian vapour power unit market shrank significantly to $X in 2021, declining by -32.4% 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, however, recorded a relatively flat trend pattern. Vapour power unit consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Vapour Power Unit Exports

Exports from Colombia

In 2021, exports of condensers for steam or other vapour power units from Colombia surged to X kg, jumping by 119% compared with the year before. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 119% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, vapour power unit exports soared to $X in 2021. Over the period under review, exports saw prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg), Panama (X kg) and Aruba (X kg) were the main destinations of vapour power unit exports from Colombia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +9.6%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Panama ($X) and Aruba ($X) appeared to be the largest markets for vapour power unit exported from Colombia worldwide.

The United States, with a CAGR of +21.3%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average vapour power unit export price amounted to $X per ton, surging by 17% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vapour power unit export price increased by +97.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 61%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Panama ($X per ton), while the average price for exports to Aruba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+11.6%).

Vapour Power Unit Imports

Imports into Colombia

In 2021, the amount of condensers for steam or other vapour power units imported into Colombia shrank rapidly to X tons, with a decrease of -30.9% compared with the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 1,470% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, vapour power unit imports declined markedly to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 2,190%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of vapour power unit to Colombia, with a 45% share of total imports. Moreover, vapour power unit imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+9.2% per year) and China (+24.9% per year).

In value terms, the largest vapour power unit suppliers to Colombia were the United States ($X), Brazil ($X) and Japan ($X), together accounting for 90% of total imports.

Among the main suppliers, Japan, with a CAGR of +125.8%, 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

The average vapour power unit import price stood at $X per ton in 2021, declining by -2.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 46%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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