Latin America and the Caribbean: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Latin America and the Caribbean

The Latin American electromagnetic lifting head market declined to $X in 2022, waning by -2.9% against the previous year. Overall, consumption, however, recorded a prominent increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Electromagnetic Lifting Head Production in Latin America and the Caribbean

In value terms, electromagnetic lifting head production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, posted strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 47%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Electromagnetic Lifting Head Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of electromagnets and electromagnetic lifting heads increased by 11% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 126%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, electromagnetic lifting head exports reached $X in 2022. Over the period under review, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, resulting at X tons, which was near 95% of total exports in 2022. Brazil (X tons) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of -10.2% from 2012 to 2022. Brazil (-3.4%) illustrated a downward trend over the same period. Mexico (-2.4 p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest electromagnetic lifting head supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was taken by Brazil ($X), with a 9.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at -2.6%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by -9.1% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by 75%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 ton), while Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.5%).

Electromagnetic Lifting Head Imports

Imports in Latin America and the Caribbean

In 2022, the amount of electromagnets and electromagnetic lifting heads imported in Latin America and the Caribbean contracted to X tons, dropping by -3% on 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined slightly in the following year.

In value terms, electromagnetic lifting head imports totaled $X in 2022. The total import value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Mexico (X tons) and Brazil (X tons) prevails in imports structure, together comprising 84% of total imports. It was distantly followed by Argentina (X tons), comprising a 4.7% share of total imports. Guatemala (X tons), Peru (X tons) and Chile (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guatemala (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported electromagnets and electromagnetic lifting heads in Latin America and the Caribbean, comprising 65% of total imports. The second position in the ranking was held by Brazil ($X), with a 22% share of total imports. It was followed by Argentina, with a 4.5% share.

In Mexico, electromagnetic lifting head imports increased at an average annual rate of +5.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+4.8% per year) and Argentina (+1.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 6% against the previous year. Over the period under review, the import price enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2015 when the import price increased by 77%. The level of import peaked at $X per ton 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 Mexico ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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