Colombia: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in Colombia

The Colombian positive displacement pump market soared to $X in 2021, increasing by 76% 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). Overall, consumption recorded a significant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Positive Displacement Pump Exports

Exports from Colombia

In 2021, exports of positive displacement pumps and hand pumps from Colombia skyrocketed to X units, jumping by 91% on the year before. Overall, exports recorded a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by 234% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, positive displacement pump exports soared to $X in 2021. In general, exports showed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 134%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for positive displacement pump exports from Colombia, accounting for a 58% share of total exports. Moreover, positive displacement pump exports to Ecuador exceeded the volume sent to the second major destination, Peru (X units), threefold. The third position in this ranking was taken by Brazil (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador totaled +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+1.9% per year) and Brazil (+28.4% per year).

In value terms, Peru ($X), Ecuador ($X) and Guatemala ($X) constituted the largest markets for positive displacement pump exported from Colombia worldwide, together comprising 85% of total exports. Brazil, Mexico, El Salvador and Panama lagged somewhat behind, together comprising a further 12%.

El Salvador, with a CAGR of +49.6%, saw the highest growth rate of 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 positive displacement pump export price amounted to $X per unit, reducing by -27.3% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 45%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Positive Displacement Pump Imports

Imports into Colombia

Positive displacement pump imports into Colombia skyrocketed to X units in 2021, picking up by 81% on the year before. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 393%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, positive displacement pump imports skyrocketed to $X in 2021. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 218% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of positive displacement pump to Colombia, accounting for a 67% share of total imports. Moreover, positive displacement pump imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The third position in this ranking was held by Free Zones (X units), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+63.4% per year) and Free Zones (+63.8% per year).

In value terms, China ($X) constituted the largest supplier of positive displacement pumps and hand pumps to Colombia, comprising 41% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Free Zones, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+46.9% per year) and Free Zones (+33.6% per year).

Import Prices by Country

The average positive displacement pump import price stood at $X per unit in 2021, dropping by -4.3% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 52%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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