Dominican Republic: Vacuum Pump Market 2024

Vacuum Pump Market Size in the Dominican Republic

The Dominican vacuum pump market surged to $X in 2022, with an increase of 57% 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 continues to indicate a significant expansion. Vacuum pump consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Vacuum Pump Exports

Exports from the Dominican Republic

In 2022, the amount of vacuum pumps exported from the Dominican Republic shrank rapidly to X units, waning by -58.6% compared with 2021 figures. Over the period under review, exports, however, showed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 617%. The exports peaked at X units in 2021, and then shrank remarkably in the following year.

In value terms, vacuum pump exports fell dramatically to $X in 2022. Overall, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 185% against the previous year. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

Turks and Caicos Islands (X units) was the main destination for vacuum pump exports from the Dominican Republic, with a 753% share of total exports. It was followed by the United States (X units), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turks and Caicos Islands stood at +116.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.3% per year) and Haiti (-7.8% per year).

In value terms, the United States ($X) remains the key foreign market for vacuum pumps exports from the Dominican Republic, comprising 86% of total exports. The second position in the ranking was held by Turks and Caicos Islands ($X), with a 9.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turks and Caicos Islands (+173.0% per year) and Haiti (-6.5% per year).

Export Prices by Country

In 2022, the average vacuum pump export price amounted to $X per unit, rising by 74% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 326% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Turks and Caicos Islands ($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 Turks and Caicos Islands (+25.9%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Pump Imports

Imports into the Dominican Republic

Vacuum pump imports into the Dominican Republic surged to X units in 2022, growing by 53% compared with the year before. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 403%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, vacuum pump imports soared to $X in 2022. In general, imports saw a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 178%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump supplier to the Dominican Republic, accounting for a 87% share of total imports. Moreover, vacuum pump imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Mexico (X units), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+33.5% per year) and Mexico (+26.2% per year).

In value terms, the United States ($X), China ($X) and Mexico ($X) were the largest vacuum pump suppliers to the Dominican Republic, with a combined 74% share of total imports. The Czech Republic and the UK lagged somewhat behind, together comprising a further 1.6%.

The Czech Republic, with a CAGR of +81.7%, 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 vacuum pump import price amounted to $X per unit, picking up by 13% against the previous year. Overall, the import price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 an increase of 35% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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