Latin America and the Caribbean: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Latin America and the Caribbean

The Latin American trailer and semi-trailer market fell to $X in 2022, waning by -10.8% against the previous year. Overall, consumption saw a slight decrease. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Trailer And Semi-Trailer Production in Latin America and the Caribbean

In value terms, trailer and semi-trailer production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Trailer And Semi-Trailer Exports

Exports in Latin America and the Caribbean

Trailer and semi-trailer exports shrank to X units in 2022, falling by -7.9% compared with the previous year. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 410% against the previous year. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, trailer and semi-trailer exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units) and Guyana (X units) prevails in exports structure, together generating 97% of total exports. Brazil (X units) took a minor 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 Guyana (with a CAGR of +116.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest trailer and semi-trailer supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.1% share of total exports.

In Mexico, trailer and semi-trailer exports expanded at an average annual rate of +16.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-0.4% per year) and Guyana (+22.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, rising by 75% against the previous year. Over the period under review, the export price, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 when the export price increased by 262% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 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 ($X per unit), while Guyana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Trailer And Semi-Trailer Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of cargo trailers and semi-trailers increased by 1.8% to X units, rising for the second consecutive year after seven years of decline. Overall, imports, however, showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 66% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, trailer and semi-trailer imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X units) was the key importer of cargo trailers and semi-trailers, making up 45% of total imports. It was distantly followed by Brazil (X units) and Chile (X units), together creating a 21% share of total imports. The following importers - Guyana (X units), the Dominican Republic (X units), Guatemala (X units), Paraguay (X units), Belize (X units), El Salvador (X units) and Peru (X units) - together made up 19% of total imports.

Imports into Mexico decreased at an average annual rate of -2.6% from 2012 to 2022. At the same time, the Dominican Republic (+12.3%), Guyana (+11.9%), Guatemala (+7.4%), Brazil (+7.4%) and El Salvador (+2.0%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +12.3% from 2012-2022. By contrast, Chile (-5.5%), Peru (-5.8%), Paraguay (-6.3%) and Belize (-8.9%) illustrated a downward trend over the same period. Brazil (+8.3 p.p.), Guyana (+3.3 p.p.), the Dominican Republic (+3.2 p.p.) and Guatemala (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Mexico, Belize and Chile saw its share reduced by -1.7%, -1.9% and -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported cargo trailers and semi-trailers in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Chile ($X), with a 17% share of total imports. It was followed by Paraguay, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (-0.5% per year) and Paraguay (+2.4% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, with an increase of 28% against the previous year. Import price indicated noticeable growth from 2012 to 2022: its price 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, trailer and semi-trailer import price decreased by -17.0% against 2019 indices. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, 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 Belize (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform