Latin America and the Caribbean: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Latin America and the Caribbean

The Latin American market for industrial, laboratory or bakery ovens was estimated at $X in 2022, flattening at the previous year. Overall, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Industrial, Laboratory or Bakery Ovens in Latin America and the Caribbean

In value terms, industrial, laboratory or bakery oven production dropped to $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Latin America and the Caribbean

In 2022, approx. X units of industrial, laboratory or bakery ovens were exported in Latin America and the Caribbean; reducing by -43.4% on 2021 figures. Overall, exports saw a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of 86% against the previous year. As a result, the exports reached the peak of X units, and then fell markedly in the following year.

In value terms, industrial, laboratory or bakery oven exports amounted to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 80%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Mexico was the key exporter of industrial, laboratory or bakery ovens in Latin America and the Caribbean, with the volume of exports amounting to X units, which was approx. 46% of total exports in 2022. Brazil (X units) held a 29% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (13%) and Colombia (7.9%).

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +21.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest industrial, laboratory or bakery oven supplier in Latin America and the Caribbean, comprising 75% of total exports. The second position in the ranking was held by Colombia ($X), with a 12% share of total exports. It was followed by Brazil, with a 9.4% share.

In Mexico, industrial, laboratory or bakery oven exports expanded at an average annual rate of +9.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+14.3% per year) and Brazil (+0.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 79% against the previous year. In general, the export price showed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+14.6%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Latin America and the Caribbean

In 2022, imports of industrial, laboratory or bakery ovens in Latin America and the Caribbean shrank to X units, which is down by -3.4% compared with the year before. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 41% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 103% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Argentina (X units) and Mexico (X units) were the key importers of industrial, laboratory or bakery ovens in 2022, reaching near 30% and 23% of total imports, respectively. Chile (X units) held the next position in the ranking, followed by Colombia (X units), Brazil (X units) and Peru (X units). All these countries together took near 31% share of total imports. Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Costa Rica (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens in Latin America and the Caribbean, comprising 66% of total imports. The second position in the ranking was taken by Argentina ($X), with a 9.2% share of total imports. It was followed by Brazil, with a 7% share.

In Mexico, industrial, laboratory or bakery oven imports expanded at an average annual rate of +6.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (+2.2% per year) and Brazil (-15.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, rising by 20% against the previous year. Over the period under review, the import price, however, saw a abrupt setback. The growth pace was the most rapid in 2017 when the import price increased by 65%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while Chile ($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 (+5.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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