Costa Rica: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Costa Rica

After two years of growth, the Costa Rican market for turbo, rotary and reciporating displacement compressors decreased by -18.3% to $X in 2022. Overall, consumption, however, posted a tangible expansion. Consumption of peaked at $X in 2021, and then contracted rapidly in the following year.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Costa Rica

In 2022, after two years of growth, there was significant decline in shipments abroad of turbo, rotary and reciporating displacement compressors, when their volume decreased by -27.2% to X units. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 144% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors dropped markedly to $X in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 344%. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Costa Rica, with a 31% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Honduras exceeded the volume sent to the second major destination, Guatemala (X units), twofold. The third position in this ranking was taken by Nicaragua (X units), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras amounted to +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-2.4% per year) and Nicaragua (-22.6% per year).

In value terms, Honduras ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Costa Rica, comprising 35% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 15% share of total exports. It was followed by Nicaragua, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Honduras totaled +31.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+2.6% per year) and Nicaragua (-19.5% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, with an increase of 5.3% against the previous year. Over the period under review, the export price saw a measured increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 90%. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to China ($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 Canada (+69.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Costa Rica

In 2022, the amount of turbo, rotary and reciporating displacement compressors imported into Costa Rica declined rapidly to X units, falling by -29.9% compared with 2021 figures. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 76% against the previous year. As a result, imports reached the peak of X units, and then shrank markedly in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors shrank to $X in 2022. Over the period under review, imports, however, continue to indicate measured growth. The pace of growth appeared the most rapid in 2017 with an increase of 67%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Costa Rica, with a 75% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. Mexico (X units) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.5% per year) and Mexico (-6.1% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest turbo, rotary and reciporating displacement compressor suppliers to Costa Rica, with a combined 47% share of total imports.

China, with a CAGR of +13.9%, recorded the highest growth rate of the value of imports, among the main suppliers 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 import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, surging by 26% against the previous year. Overall, the import price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2020 an increase of 53% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform