Cuba: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Cuba

The Cuban market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process surged to $X in 2021, picking up by 52% 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, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports from Cuba

In 2021, overseas shipments of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by 0% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports showed a precipitous decrease. The most prominent rate of growth was recorded in 2017 with an increase of 513%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process amounted to $X in 2021. Overall, exports showed a dramatic setback. The most prominent rate of growth was recorded in 2017 when exports increased by 562% against the previous year. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Cyprus (X units) was the main destination for exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Cuba, accounting for a approx. 67% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Cyprus was relatively modest.

From 2013 to 2021, the average annual growth rate of value to Cyprus was relatively modest.

Export Prices by Country

The average export price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2021, stabilizing at the previous year. Overall, the export price posted a strong increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 11%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Cyprus.

From 2013 to 2021, the rate of growth in terms of prices for the Netherlands amounted to -38.5% per year.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports into Cuba

In 2021, approx. X units of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process were imported into Cuba; increasing by 29% compared with 2020 figures. In general, imports, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2019 with an increase of 245%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 279% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Germany (X units), the Netherlands (X units) and Italy (X units) were the main suppliers of imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process to Cuba, together accounting for 27% of total imports. Russia, India, Spain, Canada, Portugal, Mexico and Belgium lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +46.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery for material treatment by heating or cooling process suppliers to Cuba were the Netherlands ($X), Germany ($X) and Russia ($X), with a combined 32% share of total imports.

Russia, with a CAGR of +40.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process amounted to $X per unit, jumping by 30% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 46% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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