Dominican Republic: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in the Dominican Republic

For the sixth year in a row, the Dominican market for vacuum pumps and air or gas compressors recorded growth in sales value, which increased by 8.8% to $X in 2022. Overall, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from the Dominican Republic

In 2022, overseas shipments of vacuum pumps and air or gas compressors increased by 845% to X units, rising for the second year in a row after two years of decline. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 4,370%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors contracted to $X in 2022. Over the period under review, exports saw a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 2,542%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

India (X units) was the main destination for exports of vacuum pumps and air or gas compressors from the Dominican Republic, with a 63% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to India exceeded the volume sent to the second major destination, Turks and Caicos Islands (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turks and Caicos Islands (+96.2% per year) and the United States (+21.2% per year).

In value terms, the United States ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from the Dominican Republic, comprising 50% of total exports. The second position in the ranking was taken by Haiti ($X), with a 16% share of total exports. It was followed by Cuba, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+13.2% per year) and Cuba (+46.6% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, waning by -90.5% against the previous year. In general, the export price showed a deep downturn. The pace of growth was the most pronounced in 2019 an increase of 287% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to India ($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 Panama (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into the Dominican Republic

In 2022, purchases abroad of vacuum pumps and air or gas compressors increased by 1.9% to X units, rising for the fifth consecutive year after two years of decline. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 68% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of vacuum pumps and air or gas compressors soared to $X in 2022. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2015 when imports increased by 101%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to the Dominican Republic, with a 59% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Mexico (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.3% per year) and Mexico (+2.9% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to the Dominican Republic were the United States ($X), China ($X) and South Korea ($X), together accounting for 67% of total imports. Switzerland, Mexico, Brazil and Italy lagged somewhat behind, together comprising a further 16%.

Switzerland, with a CAGR of +68.9%, saw 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

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, picking up by 30% against the previous year. Overall, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 84%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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