Latin America and the Caribbean: Hand-Operated Air Pump Market 2024

Hand-Operated Air Pump Market Size in Latin America and the Caribbean

In 2022, the Latin American hand-operated air pump market decreased by -6.8% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +43.8% against 2019 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Hand-Operated Air Pump Production in Latin America and the Caribbean

In value terms, hand-operated air pump production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent expansion. The growth pace was the most rapid in 2017 when the production volume increased by 2,920%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hand-Operated Air Pump Exports

Exports in Latin America and the Caribbean

In 2022, the amount of hand or foot-operated air pumps exported in Latin America and the Caribbean totaled X units, remaining relatively unchanged against 2021. In general, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 111% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, hand-operated air pump exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a slight slump. The pace of growth was the most pronounced in 2020 with an increase of 99% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico represented the major exporter of hand or foot-operated air pumps in Latin America and the Caribbean, with the volume of exports recording X units, which was approx. 66% of total exports in 2022. Brazil (X units) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (4.9%) and Panama (4.9%). Peru (X units), the Dominican Republic (X units) and Guatemala (X units) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of -9.5% from 2012 to 2022. At the same time, Peru (+16.9%), Brazil (+13.9%), the Dominican Republic (+9.1%) and Guatemala (+1.5%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +16.9% from 2012-2022. By contrast, Colombia (-1.4%) and Panama (-7.8%) illustrated a downward trend over the same period. Brazil (+8.9 p.p.), Peru (+2.8 p.p.), the Dominican Republic (+2.2 p.p.) and Colombia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -20.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Panama ($X) and Brazil ($X) were the countries with the highest levels of exports in 2022, together comprising 54% of total exports. Peru, the Dominican Republic, Guatemala and Colombia lagged somewhat behind, together comprising a further 11%.

Guatemala, with a CAGR of +23.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, increasing by 30% against the previous year. In general, the export price showed buoyant growth. The pace of growth was the most pronounced in 2021 an increase of 60% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Panama ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+21.5%), while the other leaders experienced more modest paces of growth.

Hand-Operated Air Pump Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in overseas purchases of hand or foot-operated air pumps, when their volume decreased by -6% to X units. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +90.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, hand-operated air pump imports declined to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +43.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 45%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Mexico (X units) represented the major importer of hand or foot-operated air pumps, mixing up 42% of total imports. Colombia (X units) held the second position in the ranking, followed by Chile (X units) and Ecuador (X units). All these countries together took approx. 35% share of total imports. Peru (X units), Brazil (X units), Venezuela (X units), Argentina (X units) and the Dominican Republic (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hand-operated air pump imports into Mexico stood at +4.8%. At the same time, the Dominican Republic (+11.8%), Ecuador (+7.8%), Peru (+7.8%), Chile (+5.4%), Colombia (+4.6%) and Argentina (+4.0%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +11.8% from 2012-2022. By contrast, Brazil (-6.1%) and Venezuela (-13.3%) illustrated a downward trend over the same period. Mexico (+8.2 p.p.), Colombia (+3.2 p.p.), Chile (+2.7 p.p.) and Ecuador (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Venezuela saw its share reduced by -4.4% and -10% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, with a combined 52% share of total imports. Colombia, Argentina, Peru, the Dominican Republic, Ecuador and Venezuela lagged somewhat behind, together comprising a further 30%.

The Dominican Republic, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, in terms of 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, declining by -3.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 13% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a 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 Brazil ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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