Report Update Nov 1, 2024

Colombia - Test Benches - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Test Bench Market 2024

Test Bench Market Size in Colombia

The Colombian test bench market fell to $X in 2022, which is down by -13.5% 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 deep reduction. Test bench consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Test Bench Exports

Exports from Colombia

In 2022, approx. X units of test benches were exported from Colombia; jumping by 871% on the previous year. In general, exports posted resilient growth. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, test bench exports surged to $X in 2022. Overall, exports enjoyed a remarkable increase. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X units) was the main destination for test bench exports from Colombia, with a 48% share of total exports. Moreover, test bench exports to Panama exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The United States (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Panama stood at +41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+12.1% per year) and the United States (+14.3% per year).

In value terms, the United States ($X), Bolivia ($X) and Mexico ($X) constituted the largest markets for test bench exported from Colombia worldwide, with a combined 46% share of total exports.

Mexico, with a CAGR of +42.2%, recorded 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

The average test bench export price stood at $X per unit in 2022, with a decrease of -57.7% against the previous year. Overall, the export price recorded a noticeable descent. The pace of growth was the most pronounced in 2015 when the average export price increased by 50%. The export price peaked at $X per unit in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Panama ($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 Bolivia (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Test Bench Imports

Imports into Colombia

In 2022, the amount of test benches imported into Colombia contracted slightly to X units, waning by -2.2% on the previous year. Overall, imports saw a perceptible curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 339%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, test bench imports shrank to $X in 2022. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 313%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of test bench to Colombia, with a 52% share of total imports. Moreover, test bench imports from China exceeded the figures recorded by the second-largest supplier, Russia (X units), eightfold. South Korea (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-1.9% per year) and South Korea (+5.0% per year).

In value terms, China ($X) constituted the largest supplier of test benches to Colombia, comprising 28% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.2% per year) and Russia (+2.6% per year).

Import Prices by Country

In 2022, the average test bench import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price showed a slight downturn. The most prominent rate of growth was recorded in 2013 an increase of 74% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average 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 South Korea ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for test benches in the world?

The countries with the highest volumes of test bench consumption in 2021 were China, South Africa and the United States, together accounting for 42% of global consumption. India, Germany, Japan, Russia, Brazil, Austria, Turkey, Mexico, Democratic Republic of the Congo and South Korea lagged somewhat behind, together comprising a further 33%.

What are the largest producers of test benches in the world?

The countries with the highest volumes of test bench production in 2021 were China, Germany and the United States, together accounting for 43% of global production. India, Japan, Russia, Austria, the Czech Republic, Brazil, Italy, South Korea, Mexico and Turkey lagged somewhat behind, together comprising a further 34%.

What are the leading suppliers of test benches to Colombia?

In value terms, the United States constituted the largest supplier of test bench to Colombia, comprising 54% of total imports. The second position in the ranking was occupied by Italy, with a 9.9% share of total imports. It was followed by China, with a 9.7% share.

What are the leading importers of test benches from Colombia?

In value terms, the United States remains the key foreign market for test bench exports from Colombia, comprising 93% of total exports. The second position in the ranking was occupied by Peru, with a 6.6% share of total exports.

What is the average export price for test benches in Colombia?

The average test bench export price stood at $7,357 per unit in 2021, waning by -25.6% against the previous year.

What is the average import price for test benches in Colombia?

In 2021, the average test bench import price amounted to $2,292 per unit, dropping by -25.4% against the previous year.

This report provides an in-depth analysis of the test bench market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26516620 - Test benches

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023