Latin America and the Caribbean: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Latin America and the Caribbean

The Latin American air conditioning machine market fell to $X in 2021, which is down by -8.7% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Air Conditioning Machine Production in Latin America and the Caribbean

In value terms, air conditioning machine production stood at $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Air Conditioning Machine Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of air conditioning machines increased by 126% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, recording X units, which was approx. 97% of total exports in 2021. Panama (X units) held a minor share of total exports.

Mexico was also the fastest-growing in terms of the air conditioning machines exports, with a CAGR of +15.2% from 2012 to 2021. Panama (-12.7%) illustrated a downward trend over the same period. While the share of Mexico (+27 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Panama (-17 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest air conditioning machine supplier in Latin America and the Caribbean, comprising 97% of total exports. The second position in the ranking was held by Panama ($X), with a 1.8% share of total exports.

In Mexico, air conditioning machine exports increased at an average annual rate of +11.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by -39.6% against the previous year. In general, the export price recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 an increase of 94%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Panama totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+0.7%).

Air Conditioning Machine Imports

Imports in Latin America and the Caribbean

In 2021, the amount of air conditioning machines imported in Latin America and the Caribbean skyrocketed to X units, growing by 30% against the previous year. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine imports soared to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico prevails in imports structure, reaching X units, which was near 53% of total imports in 2021. Chile (X units) held a 7.5% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (5.9%), Colombia (4.9%) and Bolivia (4.6%). The following importers - Venezuela (X units), Ecuador (X units), Paraguay (X units), Panama (X units), Uruguay (X units) and Argentina (X units) - together made up 14% of total imports.

From 2012 to 2021, average annual rates of growth with regard to air conditioning machine imports into Mexico stood at +8.0%. At the same time, Bolivia (+20.1%), Chile (+12.6%), Paraguay (+3.8%) and Ecuador (+3.3%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.1% from 2012-2021. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-2.5%), Uruguay (-2.9%), Brazil (-5.8%), Panama (-8.0%) and Venezuela (-12.1%) illustrated a downward trend over the same period. Mexico (+18 p.p.), Chile (+4.1 p.p.) and Bolivia (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Panama, Brazil and Venezuela saw its share reduced by -1.9%, -3.2%, -7.5% and -11.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported air conditioning machines in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Chile ($X), with an 8.4% share of total imports. It was followed by Colombia, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +4.8%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+5.2% per year) and Colombia (-2.4% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, declining by -8.8% against the previous year. In general, the import price showed a perceptible downturn. The pace of growth appeared the most rapid in 2015 an increase of 26%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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