Latin America and the Caribbean: Electric Heating Equipment Market 2025

Electric Heating Equipment Market Size in Latin America and the Caribbean

In 2022, after three years of growth, there was decline in the Latin American electric heating equipment market, when its value decreased by -1.4% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then declined modestly in the following year.

Electric Heating Equipment Production in Latin America and the Caribbean

In value terms, electric heating equipment production totaled $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -1.7% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electric Heating Equipment Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of electric space heating apparatus and soil heating apparatus increased by 61% to X units, rising for the second consecutive year after two years of decline. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 71% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, electric heating equipment exports expanded remarkably to $X in 2022. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 95%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X units) was the largest exporter of electric space heating apparatus and soil heating apparatus in Latin America and the Caribbean, mixing up 99% of total export.

Mexico was also the fastest-growing in terms of the electric space heating apparatus and soil heating apparatus exports, with a CAGR of +11.0% from 2012 to 2022. From 2012 to 2022, the share of Mexico increased by +13 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest electric heating equipment supplier in Latin America and the Caribbean.

In Mexico, electric heating equipment exports expanded at an average annual rate of +10.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -32.5% against the previous year. Overall, the export price saw a mild downturn. The pace of growth appeared the most rapid in 2015 an increase of 14% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to -0.4% per year.

Electric Heating Equipment Imports

Imports in Latin America and the Caribbean

In 2022, the amount of electric space heating apparatus and soil heating apparatus imported in Latin America and the Caribbean expanded sharply to X units, increasing by 9.1% compared with 2021 figures. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 63%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, electric heating equipment imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period 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 with an increase of 40%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of electric heating equipment imports in 2022 were Chile (X units), Brazil (X units) and Mexico (X units), together resulting at 79% of total import. It was distantly followed by Bolivia (X units), achieving a 5.7% share of total imports. Uruguay (X units), Peru (X units) and Colombia (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +13.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Mexico ($X) and Brazil ($X) constituted the countries with the highest levels of imports in 2022, together comprising 82% of total imports.

Among the main importing countries, Chile, with a CAGR of +5.9%, recorded the highest growth rate of the value of imports, 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, with an increase of 3.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 14% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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