Latin America and the Caribbean: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Latin America and the Caribbean

The Latin American wood drilling machine market expanded sharply to $X in 2021, rising by 8.4% against the previous year. In general, consumption saw a buoyant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wood Drilling Machine Production in Latin America and the Caribbean

In value terms, wood drilling machine production reached $X in 2021 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 75%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wood Drilling Machine Exports

Exports in Latin America and the Caribbean

In 2021, the amount of drilling or morticing machines exported in Latin America and the Caribbean dropped sharply to X units, waning by -41.8% on the previous year's figure. In general, exports showed a slight curtailment. The growth pace was the most rapid in 2019 when exports increased by 364%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, wood drilling machine exports reduced to $X in 2021. Overall, exports, however, posted a slight expansion. The most prominent rate of growth was recorded in 2019 with an increase of 167%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil represented the key exporting country with an export of about X units, which accounted for 50% of total exports. It was distantly followed by Colombia (X units), Panama (X units) and Ecuador (X units), together committing a 37% share of total exports. Bolivia (X units), Chile (X units) and Grenada (X units) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +12.9% from 2012 to 2021. At the same time, Bolivia (+31.8%), Colombia (+28.7%), Ecuador (+25.1%) and Chile (+13.0%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +31.8% from 2012-2021. Grenada experienced a relatively flat trend pattern. By contrast, Panama (-16.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Colombia, Ecuador, Bolivia, Grenada and Chile increased by +35, +16, +4.9, +4.2, +1.9 and +1.6 percentage points, respectively.

In value terms, Brazil ($X) remains the largest wood drilling machine supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was held by Ecuador ($X), with a 4.3% share of total exports. It was followed by Panama, with a 3% share.

In Brazil, wood drilling machine exports expanded at an average annual rate of +4.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ecuador (+17.2% per year) and Panama (-11.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, growing by 69% against the previous year. Over the period under review, the export price showed a perceptible increase. The pace of growth appeared the most rapid in 2013 when the export price increased by 201%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+40.7%), while the other leaders experienced mixed trends in the export price figures.

Wood Drilling Machine Imports

Imports in Latin America and the Caribbean

Wood drilling machine imports declined remarkably to X units in 2021, which is down by -27.7% against the year before. In general, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 189%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, wood drilling machine imports totaled $X in 2021. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Peru (X units), Mexico (X units), Chile (X units) and Paraguay (X units) represented roughly 66% of total imports in 2021. It was distantly followed by Guatemala (X units), committing a 5.9% share of total imports. Nicaragua (X units), Cuba (X units), Brazil (X units), Uruguay (X units), the Dominican Republic (X units), Argentina (X units), Ecuador (X units) and Colombia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cuba (with a CAGR of +56.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 53% share of total imports. Argentina, Guatemala, Peru, Chile, the Dominican Republic, Cuba, Ecuador, Uruguay, Paraguay and Nicaragua lagged somewhat behind, together comprising a further 39%.

The Dominican Republic, with a CAGR of +33.7%, saw the highest rates of growth with regard to the value of imports, among 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 2021, the import price in Latin America and the Caribbean amounted to $X per unit, growing by 38% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The pace of growth was the most pronounced in 2020 when the import price increased by 60% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, 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 Brazil ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+28.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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