Latin America and the Caribbean: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Latin America and the Caribbean

The Latin American heat exchange unit market reached $X in 2022, increasing by 4.7% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Heat Exchange Unit Production in Latin America and the Caribbean

In value terms, heat exchange unit production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 48% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Heat Exchange Unit Exports

Exports in Latin America and the Caribbean

Heat exchange unit exports soared to X units in 2022, growing by 21% against the previous year. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 92%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, heat exchange unit exports surged to $X in 2022. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 91%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Mexico was the major exporter of heat exchange units in Latin America and the Caribbean, with the volume of exports reaching X units, which was approx. 87% of total exports in 2022. It was distantly followed by Brazil (X units), committing a 12% share of total exports.

Mexico was also the fastest-growing in terms of the heat exchange units exports, with a CAGR of +18.5% from 2012 to 2022. At the same time, Brazil (+7.9%) displayed positive paces of growth. While the share of Mexico (+23 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-10.7 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest heat exchange unit supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Brazil ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +19.1%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -2.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 11%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.5%).

Heat Exchange Unit Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of heat exchange units increased by 30% to X units, rising for the second year in a row after two years of decline. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +65.6% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 76%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, heat exchange unit imports surged to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +49.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 65%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Mexico (X units) and Brazil (X units) dominates imports structure, together generating 77% of total imports. It was distantly followed by Argentina (X units), constituting a 5% share of total imports. The following importers - Chile (X units), Colombia (X units), Peru (X units) and Trinidad and Tobago (X units) - together made up 12% 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 Mexico (with a CAGR of +7.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2022, with a combined 79% share of total imports.

In terms of the main importing countries, Mexico, with a CAGR of +8.3%, saw 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, shrinking by -6.4% against the previous year. Over the period under review, the import price saw a mild downturn. The most prominent rate of growth was recorded in 2017 an increase of 32%. Over the period under review, import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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