Latin America and the Caribbean: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Latin America and the Caribbean

In 2022, the Latin American market for electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to $X, rising for the seventh year in a row after two years of decline. Overall, consumption, however, enjoyed a measured increase. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Latin America and the Caribbean

In value terms, lighting equipment for motor vehicles production stood at $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports in Latin America and the Caribbean

In 2022, shipments abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the second consecutive year after two years of decline. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, lighting equipment for motor vehicles exports surged to $X in 2022. Over the period under review, exports saw a strong expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Mexico dominates exports structure, amounting to X units, which was near X% of total exports in 2022. Brazil (X units) took a minor share of total exports.

Mexico was also the fastest-growing in terms of the electrical lighting or visual signaling equipment for motor vehicles and cycles exports, with a CAGR of X% from 2012 to 2022. Brazil (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest lighting equipment for motor vehicles supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price showed a resilient increase. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Mexico stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports in Latin America and the Caribbean

In 2022, approx. X units of electrical lighting or visual signaling equipment for motor vehicles and cycles were imported in Latin America and the Caribbean; shrinking by X% compared with the year before. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then contracted in the following year.

In value terms, lighting equipment for motor vehicles imports totaled $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Mexico represented the key importer of electrical lighting or visual signaling equipment for motor vehicles and cycles in Latin America and the Caribbean, with the volume of imports reaching X units, which was approx. X% of total imports in 2022. Brazil (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (X%) and Chile (X%). The following importers - Guatemala (X units) and Colombia (X units) - together made up X% of total imports.

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

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Chile, Colombia and Guatemala lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, recorded 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

The import price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 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 Argentina ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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