Cuba: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Cuba

In 2021, the Cuban air conditioning machine market decreased by -48% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, posted a perceptible expansion. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Air Conditioning Machine Production in Cuba

In value terms, air conditioning machine production surged to $X in 2021 estimated in export price. In general, production, however, saw a deep downturn. Air conditioning machine production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Air Conditioning Machine Exports

Exports from Cuba

In 2021, shipments abroad of air conditioning machines increased by 38% to X units, rising for the second year in a row after four years of decline. Over the period under review, exports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by 41%. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, air conditioning machine exports surged to $X in 2021. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 113%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for air conditioning machine exports from Cuba, with a 69% share of total exports. Moreover, air conditioning machine exports to Canada exceeded the volume sent to the second major destination, Panama (X units), threefold. The third position in this ranking was held by Angola (X units), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada totaled +977.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-23.0% per year) and Angola (+41.4% per year).

In value terms, the largest markets for air conditioning machine exported from Cuba were Canada ($X), Panama ($X) and Angola ($X), together accounting for 97% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +1,480.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average air conditioning machine export price amounted to $X per unit, falling by -11.7% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 an increase of 51%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Panama ($X per unit), while the average price for exports to Angola ($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 Canada (+46.7%), while the prices for the other major destinations experienced a decline.

Air Conditioning Machine Imports

Imports into Cuba

After three years of growth, purchases abroad of air conditioning machines decreased by -39.9% to X units in 2021. Over the period under review, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 159% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020, and then fell markedly in the following year.

In value terms, air conditioning machine imports dropped notably to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 94%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Panama (X units) and Italy (X units) were the main suppliers of air conditioning machine imports to Cuba, together accounting for 95% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machine suppliers to Cuba were Panama ($X), China ($X) and Italy ($X), with a combined 87% share of total imports.

Among the main suppliers, China, with a CAGR of +10.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average air conditioning machine import price amounted to $X per unit, which is down by -19.2% against the previous year. Over the period under review, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 26%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :