Latin America and the Caribbean: Circuit Breaker Market 2024

Circuit Breaker Market Size in Latin America and the Caribbean

In 2022, the Latin American circuit breaker market decreased by -1.1% to $X, falling for the second consecutive year after six years of growth. Overall, consumption, however, recorded a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Circuit Breaker Production in Latin America and the Caribbean

In value terms, circuit breaker production rose modestly to $X in 2022 estimated in export price. In general, production showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 44%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Circuit Breaker Exports

Exports in Latin America and the Caribbean

Circuit breaker exports rose to X units in 2022, increasing by 3.1% against the previous year's figure. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 54% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, circuit breaker exports expanded remarkably to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 22%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Mexico (X units) and the Dominican Republic (X units) dominates exports structure, together achieving 95% of total exports. Brazil (X units) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mexico (with a CAGR of +7.9%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the Dominican Republic ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2022, together comprising 99% of total exports.

The Dominican Republic, with a CAGR of +10.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by 7.5% against the previous year. Overall, the export price showed a perceptible increase. The growth pace was the most rapid in 2016 an increase of 38%. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Mexico ($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 Dominican Republic (+7.0%), while the other leaders experienced mixed trends in the export price figures.

Circuit Breaker Imports

Imports in Latin America and the Caribbean

After five years of growth, overseas purchases of automatic circuit breakers decreased by -4.7% to X units in 2022. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +118.8% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 44% against the previous year. As a result, imports reached the peak of X units, and then reduced slightly in the following year.

In value terms, circuit breaker imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Brazil (X units) and Mexico (X units) were the major importers of automatic circuit breakers in 2022, amounting to near 38% and 26% of total imports, respectively. It was distantly followed by Argentina (X units), creating a 6.5% share of total imports. Peru (X units), Colombia (X units), Bolivia (X units), Chile (X units), Guatemala (X units), Costa Rica (X units), Ecuador (X units), Belize (X units) and Panama (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest circuit breaker importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together comprising 70% of total imports. Chile, Colombia, Peru, Guatemala, Ecuador, Costa Rica, Panama, Bolivia and Belize lagged somewhat behind, together comprising a further 21%.

Among the main importing countries, Panama, with a CAGR of +32.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, with an increase of 18% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2015 when the import price increased by 27%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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