Colombia: Vacuum Pump Market 2024

Vacuum Pump Market Size in Colombia

The Colombian vacuum pump market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption continues to indicate a tangible increase. Vacuum pump consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vacuum Pump Exports

Exports from Colombia

After two years of decline, overseas shipments of vacuum pumps increased by 99% to X units in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when exports increased by 162% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vacuum pump exports skyrocketed to $X in 2022. In general, exports, however, saw a pronounced decline. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X units) was the main destination for vacuum pump exports from Colombia, with a 69% share of total exports. Moreover, vacuum pump exports to Ecuador exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was held by Germany (X units), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.3% per year) and Germany (+7.8% per year).

In value terms, the largest markets for vacuum pump exported from Colombia were the United States ($X), Ecuador ($X) and Guatemala ($X), with a combined 79% share of total exports. Brazil and Germany lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Brazil, with a CAGR of +22.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vacuum pump export price stood at $X per unit in 2022, growing by 7.5% against the previous year. Overall, the export price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of 124% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Ecuador ($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 Brazil (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Pump Imports

Imports into Colombia

In 2022, overseas purchases of vacuum pumps increased by 3.5% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 132%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, vacuum pump imports contracted slightly to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +94.0% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 36%. Imports peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest vacuum pump supplier to Colombia, with a 33% share of total imports. Moreover, vacuum pump imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. France (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.5% per year) and France (+29.1% per year).

In value terms, the largest vacuum pump suppliers to Colombia were Germany ($X), the United States ($X) and China ($X), with a combined 56% share of total imports. Brazil, France, Italy, Argentina, India, South Korea, Taiwan (Chinese), the UK and Japan lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, India, with a CAGR of +69.4%, saw the highest growth rate of 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

In 2022, the average vacuum pump import price amounted to $X per unit, shrinking by -6.2% against the previous year. In general, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 87%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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