Latin America and the Caribbean: Market for Diesel-Electric and Other Locomotives 2024

Market Size for Diesel-Electric and Other Locomotives in Latin America and the Caribbean

The Latin American diesel-electric and other locomotive market rose modestly to $X in 2022, with an increase of 2.8% against the previous year. Over the period under review, consumption, however, saw a drastic downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Diesel-Electric and Other Locomotives in Latin America and the Caribbean

In value terms, diesel-electric and other locomotive production dropped remarkably to $X in 2022 estimated in export price. Overall, production faced a precipitous decline. The growth pace was the most rapid in 2019 when the production volume increased by 629%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Diesel-Electric and Other Locomotives

Exports in Latin America and the Caribbean

In 2022, approx. X units of diesel-electric and other locomotives were exported in Latin America and the Caribbean; which is down by -55.6% against the previous year. In general, exports showed a significant decline. The most prominent rate of growth was recorded in 2019 with an increase of 167% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, diesel-electric and other locomotive exports reduced notably to $X in 2022. Over the period under review, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of 362% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Brazil (X units) and Peru (X units) represented the main exporters of diesel-electric and other locomotives in Latin America and the Caribbean, together recording near 88% of total exports. It was distantly followed by Panama (X units), creating a 13% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of -2.8%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Brazil ($X) remains the largest diesel-electric and other locomotive supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was taken by Peru ($X), with a 5.8% share of total exports.

In Brazil, diesel-electric and other locomotive exports declined by an average annual rate of -22.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (-8.6% per year) and Panama (-26.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by 16% against the previous year. Overall, the export price, however, showed a sharp shrinkage. The pace of growth was the most pronounced in 2018 when the export price increased by 276% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 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 ($X per unit), while Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-5.9%), while the other leaders experienced a decline in the export price figures.

Imports of Diesel-Electric and Other Locomotives

Imports in Latin America and the Caribbean

In 2022, after three years of decline, there was significant growth in overseas purchases of diesel-electric and other locomotives, when their volume increased by 24% to X units. Over the period under review, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 474% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, diesel-electric and other locomotive imports soared to $X in 2022. In general, imports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 71%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Chile was the main importing country with an import of about X units, which finished at 29% of total imports. The Dominican Republic (X units) took the second position in the ranking, followed by Brazil (X units), Argentina (X units), Peru (X units) and Colombia (X units). All these countries together held near 45% share of total imports. Bahamas (X units), Panama (X units), Costa Rica (X units), Ecuador (X units), Bolivia (X units), Jamaica (X units) and Venezuela (X units) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, Bahamas (+14.9%), the Dominican Republic (+11.0%), Jamaica (+4.1%), Costa Rica (+2.9%), Peru (+2.3%) and Colombia (+1.6%) displayed positive paces of growth. Moreover, Bahamas emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +14.9% from 2012-2022. Argentina and Venezuela experienced a relatively flat trend pattern. By contrast, Bolivia (-6.7%), Ecuador (-7.8%), Panama (-15.7%) and Brazil (-16.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, the Dominican Republic, Peru, Argentina, Colombia, Bahamas, Costa Rica and Jamaica increased by +23, +11, +4.6, +4.1, +3, +2.8, +1.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Chile ($X) and Costa Rica ($X) were the countries with the highest levels of imports in 2022, together accounting for 90% of total imports. Peru, Colombia, Jamaica, the Dominican Republic, Argentina, Panama, Venezuela, Ecuador, Bahamas and Bolivia lagged somewhat behind, together accounting for a further 10%.

Bahamas, with a CAGR of +70.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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, approximately equating the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 1,157%. As a result, import price reached 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 Costa Rica ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (+48.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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