Colombia: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Colombia

In 2022, after two years of growth, there was significant decline in the Colombian market for lead-acid accumulators (excluding starter batteries), when its value decreased by -6.9% to $X. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +45.7% against 2017 indices. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Colombia

For the third year in a row, Colombia recorded decline in shipments abroad of lead-acid accumulators (excluding starter batteries), which decreased by -8.9% to X units in 2022. In general, exports faced a deep setback. The growth pace was the most rapid in 2014 when exports increased by 95%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) exports shrank to $X in 2022. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 44% 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), the United States (X units) and Panama (X units) were the main destinations of lead-acid accumulators (excluding starter batteries) exports from Colombia.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +21.2%), while shipments for the other leaders experienced a decline.

In value terms, Ecuador ($X) remains the key foreign market for lead-acid accumulators (excluding starter batteries) exports from Colombia, comprising 71% of total exports. The second position in the ranking was held by the United States ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+28.0% per year) and Panama (-8.8% per year).

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, almost unchanged from the previous year. Overall, the export price, however, showed prominent growth. The pace of growth was the most pronounced in 2018 an increase of 124%. The export price peaked at $X per unit in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Panama ($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 Honduras (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Colombia

In 2022, lead-acid accumulators (excluding starter batteries) imports into Colombia declined to X units, which is down by -9.6% against the year before. Over the period under review, imports saw a slight setback. The pace of growth was the most pronounced in 2014 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) imports reduced to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +53.7% against 2017 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest lead-acid accumulators (excluding starter batteries) supplier to Colombia, accounting for a 63% share of total imports. Moreover, lead-acid accumulators (excluding starter batteries) imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+9.0% per year) and Hong Kong SAR (+54.3% per year).

In value terms, China ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Colombia, comprising 48% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.2% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.6% per year) and the United States (-3.9% per year).

Import Prices by Country

The average import price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, growing by 4% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lead-acid accumulators (excluding starter batteries) import price decreased by -6.2% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 55%. Over the period under review, average import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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