Latin America and the Caribbean: Rock Cutter Market 2025

Rock Cutter Market Size in Latin America and the Caribbean

In 2022, the Latin American rock cutter market increased by 30% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a abrupt contraction. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Rock Cutter Production in Latin America and the Caribbean

In value terms, rock cutter production reached $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 62% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Rock Cutter Exports

Exports in Latin America and the Caribbean

In 2022, exports of coal or rock cutters and tunnelling machinery in Latin America and the Caribbean surged to X units, growing by 19% on 2021. Total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +11.5% against 2016 indices. The pace of growth was the most pronounced in 2016 with an increase of 57% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, rock cutter exports dropped dramatically to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 87%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Colombia (X units) and Chile (X units) represented the largest exporters of coal or rock cutters and tunnelling machinery in 2022, resulting at approx. 27% and 26% of total exports, respectively. Ecuador (X units) held the next position in the ranking, followed by Costa Rica (X units), Panama (X units), Peru (X units), Guatemala (X units) and Trinidad and Tobago (X units). All these countries together held approx. 44% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Chile (with a CAGR of +27.4%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) remains the largest rock cutter supplier in Latin America and the Caribbean, comprising 40% of total exports. The second position in the ranking was held by Peru ($X), with a 13% share of total exports. It was followed by Costa Rica, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile amounted to +20.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+15.1% per year) and Costa Rica (+5.4% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, falling by -31.3% against the previous year. Overall, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2013 an increase of 80%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+18.8%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of coal or rock cutters and tunnelling machinery were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 165%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, rock cutter imports soared to $X in 2022. In general, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by 139% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Peru prevails in imports structure, resulting at X units, which was approx. 52% of total imports in 2022. Chile (X units) ranks second in terms of the total imports with a 7.4% share, followed by Argentina (6.7%) and Panama (5.6%). The following importers - Ecuador (X units), Colombia (X units), Brazil (X units), Costa Rica (X units), Bolivia (X units), Venezuela (X units) and Mexico (X units) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to rock cutter imports into Peru stood at +14.2%. At the same time, Costa Rica (+18.9%), Panama (+12.4%), Chile (+2.9%) and Ecuador (+1.3%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +18.9% from 2012-2022. By contrast, Bolivia (-2.4%), Argentina (-3.4%), Venezuela (-9.2%), Colombia (-17.3%), Brazil (-22.6%) and Mexico (-25.7%) illustrated a downward trend over the same period. While the share of Peru (+44 p.p.), Panama (+4.6 p.p.), Chile (+4.3 p.p.), Costa Rica (+2.8 p.p.) and Ecuador (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (-11.5 p.p.), Mexico (-19.4 p.p.) and Brazil (-21.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was held by Chile ($X), with a 7.9% share of total imports. It was followed by Argentina, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in Peru stood at +15.3%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+2.7% per year) and Argentina (-12.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by 3.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 20% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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