Latin America and the Caribbean: Shaft Coupling Market 2024

Shaft Coupling Market Size in Latin America and the Caribbean

In 2022, the Latin American shaft coupling market increased by 9.8% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Shaft Coupling Production in Latin America and the Caribbean

In value terms, shaft coupling production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 30% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Shaft Coupling Exports

Exports in Latin America and the Caribbean

In 2022, the amount of clutches and shaft couplings exported in Latin America and the Caribbean rose remarkably to X tons, surging by 14% on 2021 figures. In general, exports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2021 with an increase of 80%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, shaft coupling exports expanded notably to $X in 2022. Overall, exports, however, showed a mild reduction. The pace of growth was the most pronounced in 2021 when exports increased by 21% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico represented the largest exporter of clutches and shaft couplings in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Brazil (X tons), achieving a 16% share of total exports. Suriname (X tons) held a relatively small share of total exports.

Exports from Mexico decreased at an average annual rate of -2.3% from 2012 to 2022. At the same time, Suriname (+39.4%) and Brazil (+3.0%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +39.4% from 2012-2022. From 2012 to 2022, the share of Brazil and Suriname increased by +6.6 and +4.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest shaft coupling supplier in Latin America and the Caribbean, comprising 72% of total exports. The second position in the ranking was taken by Brazil ($X), with a 21% share of total exports.

In Mexico, shaft coupling exports decreased by an average annual rate of -1.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-0.3% per year) and Suriname (+22.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, declining by -5.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 100% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%), while the other leaders experienced a decline in the export price figures.

Shaft Coupling Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of clutches and shaft couplings increased by 24% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, shaft coupling imports amounted to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Mexico (X tons) was the key importer of clutches and shaft couplings, making up 56% of total imports. It was distantly followed by Brazil (X tons), Chile (X tons) and Argentina (X tons), together committing a 32% share of total imports. The following importers - Colombia (X tons) and Peru (X tons) - together made up 5% of total imports.

Imports into Mexico increased at an average annual rate of +4.1% from 2012 to 2022. At the same time, Chile (+6.4%), Argentina (+3.1%), Brazil (+2.1%) and Peru (+1.0%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.4% from 2012-2022. By contrast, Colombia (-2.8%) illustrated a downward trend over the same period. Mexico (+5.7 p.p.) and Chile (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Colombia saw its share reduced by -1.9% and -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported clutches and shaft couplings in Latin America and the Caribbean, comprising 52% of total imports. The second position in the ranking was held by Brazil ($X), with a 19% share of total imports. It was followed by Chile, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +6.1%. In the other countries, the average annual rates were as follows: Brazil (+0.5% per year) and Chile (+5.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, declining by -12% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 10%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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