Cuba: Market for Turbo, Rotary and Reciporating Displacement Compressors 2025

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Cuba

In 2021, the Cuban market for turbo, rotary and reciporating displacement compressors was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a perceptible downturn. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Cuba

In 2021, overseas shipments of turbo, rotary and reciporating displacement compressors increased by 691% to X units, rising for the third year in a row after two years of decline. Overall, exports, however, saw a drastic downturn. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors surged to $X in 2021. Over the period under review, exports saw a remarkable increase. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Cuba, accounting for a 47% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to the Netherlands exceeded the volume sent to the second major destination, Denmark (X units), twofold. Venezuela (X units) ranked third in terms of total exports with a 20% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands stood at +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Venezuela (-18.4% per year).

In value terms, Denmark ($X) emerged as the key foreign market for turbo, rotary and reciporating displacement compressor exports from Cuba, comprising 79% of total exports. The second position in the ranking was taken by Venezuela ($X), with an 8.4% share of total exports. It was followed by Spain, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-11.5% per year) and Spain (-11.9% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2021, jumping by 204% against the previous year. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 an increase of 242% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per unit), while the average price for exports to the Netherlands ($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 the Netherlands (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Cuba

After three years of decline, supplies from abroad of turbo, rotary and reciporating displacement compressors increased by 60% to X units in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 93%. Over the period under review, imports of attained the maximum at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of turbo, rotary and reciporating displacement compressors surged to $X in 2021. In general, imports, however, continue to indicate a pronounced shrinkage. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X units) constituted the largest turbo, rotary and reciporating displacement compressor supplier to Cuba, with a 47% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from Russia exceeded the figures recorded by the second-largest supplier, Trinidad and Tobago (X units), fourfold. The third position in this ranking was taken by China (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Trinidad and Tobago (+50.4% per year) and China (+1.5% per year).

In value terms, Russia ($X), China ($X) and Spain ($X) appeared to be the largest turbo, rotary and reciporating displacement compressor suppliers to Cuba, together accounting for 61% of total imports.

Russia, with a CAGR of +14.9%, 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 2021, the average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, shrinking by -8.5% against the previous year. In general, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 60%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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