Latin America and the Caribbean: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Latin America and the Caribbean

The Latin American gear cutting machine market declined sharply to $X in 2021, which is down by -37.7% against the previous year. In general, consumption showed a slight decline. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Gear Cutting Machine Production in Latin America and the Caribbean

In value terms, gear cutting machine production skyrocketed to $X in 2021 estimated in export price. In general, production posted pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of 166% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports in Latin America and the Caribbean

In 2021, approx. X units of gear cutting, gear grinding or gear finishing machines were exported in Latin America and the Caribbean; falling by -16.1% on the previous year. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 389% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, gear cutting machine exports reduced dramatically to $X in 2021. In general, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 530% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina dominates exports structure, resulting at X units, which was approx. 84% of total exports in 2021. It was distantly followed by the Dominican Republic (X units), mixing up a 6% share of total exports. Venezuela (X units), Peru (X units) and Colombia (X units) took a relatively small share of total exports.

Argentina was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of +51.5% from 2012 to 2021. At the same time, the Dominican Republic (+19.6%), Peru (+9.9%) and Colombia (+8.0%) displayed positive paces of growth. Venezuela experienced a relatively flat trend pattern. Argentina (+73 p.p.) and Venezuela (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Colombia and Peru saw its share reduced by -2.7% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest gear cutting machine supplier in Latin America and the Caribbean, comprising 68% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 20% share of total exports. It was followed by Colombia, with a 3% share.

In Argentina, gear cutting machine exports expanded at an average annual rate of +16.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Venezuela (0.0% per year) and Colombia (-0.8% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -40.6% against the previous year. Over the period under review, the export price showed a precipitous slump. The most prominent rate of growth was recorded in 2018 an increase of 462% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-8.2%), while the other leaders experienced a decline in the export price figures.

Gear Cutting Machine Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of gear cutting, gear grinding or gear finishing machines decreased by -49.6% to X units, falling for the second year in a row after two years of growth. In general, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2015 with an increase of 172% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports dropped significantly to $X in 2021. Overall, imports faced a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by 14%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X units) was the key importer of gear cutting, gear grinding or gear finishing machines, achieving 58% of total imports. Mexico (X units) held the second position in the ranking, distantly followed by Chile (X units). All these countries together took approx. 34% share of total imports. Colombia (X units) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of gear cutting, gear grinding or gear finishing machines. At the same time, Chile (+9.2%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +9.2% from 2012-2021. By contrast, Colombia (-1.1%) and Mexico (-3.9%) illustrated a downward trend over the same period. While the share of Brazil (+17 p.p.) and Chile (+7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in Latin America and the Caribbean, comprising 69% of total imports. The second position in the ranking was held by Mexico ($X), with a 23% share of total imports. It was followed by Chile, with a 2.3% share.

In Brazil, gear cutting machine imports shrank by an average annual rate of -10.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-24.1% per year) and Chile (-6.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, which is down by -10.6% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2014 an increase of 60%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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