Latin America and the Caribbean: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Latin America and the Caribbean

The Latin American market for vacuum pumps and air or gas compressors contracted modestly to $X in 2022, falling by -2.7% against the previous year. Overall, consumption continues to indicate a perceptible reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Vacuum Pumps and Air or Gas Compressors in Latin America and the Caribbean

In value terms, production of vacuum pumps and air or gas compressors declined to $X in 2022 estimated in export price. Over the period under review, production saw a deep contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 0.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Latin America and the Caribbean

In 2022, shipments abroad of vacuum pumps and air or gas compressors was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of vacuum pumps and air or gas compressors skyrocketed to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Mexico (X units) represented the main exporter of vacuum pumps and air or gas compressors, achieving 77% of total exports. It was distantly followed by Brazil (X units), generating a 22% share of total exports.

Mexico was also the fastest-growing in terms of the vacuum pumps and air or gas compressors exports, with a CAGR of +9.6% from 2012 to 2022. Brazil (-7.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +39 percentage points.

In value terms, Mexico ($X) remains the largest vacuum pump and air or gas compressor supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was held by Brazil ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +6.0%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, with a decrease of -12.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 26% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.2%).

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Latin America and the Caribbean

Imports of vacuum pumps and air or gas compressors was estimated at X units in 2022, surging by 2.1% compared with the previous year. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, imports of vacuum pumps and air or gas compressors reached $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X units) represented the largest importer of vacuum pumps and air or gas compressors, creating 56% of total imports. It was distantly followed by Brazil (X units), Argentina (X units) and Colombia (X units), together constituting a 31% share of total imports. Chile (X units) and Ecuador (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vacuum pump and air or gas compressor imports into Mexico stood at +3.6%. At the same time, Ecuador (+6.2%), Chile (+4.9%), Colombia (+4.3%) and Brazil (+3.5%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.2% from 2012-2022. Argentina experienced a relatively flat trend pattern. While the share of Mexico (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports. It was followed by Argentina, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at +1.4%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-0.5% per year) and Argentina (-0.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, growing by 10% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible setback. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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