Latin America and the Caribbean: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Latin America and the Caribbean

In 2022, the Latin American hydraulic cylinder and system market increased by 17% to $X, rising for the third year in a row after two years of decline. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +45.7% against 2019 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Production of Hydraulic Cylinders And Systems in Latin America and the Caribbean

In value terms, hydraulic cylinder and system production expanded notably to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -5.8% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 31% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports in Latin America and the Caribbean

In 2022, overseas shipments of hydraulic cylinders and systems increased by 22% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +41.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units) and Brazil (X units) prevails in exports structure, together mixing up 95% of total exports. Chile (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mexico (with a CAGR of +7.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest hydraulic cylinder and system supplier in Latin America and the Caribbean, comprising 68% of total exports. The second position in the ranking was held by Brazil ($X), with a 27% share of total exports.

In Mexico, hydraulic cylinder and system exports expanded at an average annual rate of +7.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-1.8% per year) and Chile (+4.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.8% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.6%).

Imports of Hydraulic Cylinders And Systems

Imports in Latin America and the Caribbean

In 2022, approx. X units of hydraulic cylinders and systems were imported in Latin America and the Caribbean; rising by 25% against the previous year's figure. Overall, imports showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 57% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +82.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 46%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Brazil was the major importer of hydraulic cylinders and systems in Latin America and the Caribbean, with the volume of imports recording X units, which was near 68% of total imports in 2022. Mexico (X units) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Chile (5.3%). The following importers - Argentina (X units) and Peru (X units) - together made up 5.2% of total imports.

From 2012 to 2022, average annual rates of growth with regard to hydraulic cylinder and system imports into Brazil stood at +6.7%. At the same time, Mexico (+10.3%), Chile (+3.6%) and Peru (+1.5%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.3% from 2012-2022. Argentina experienced a relatively flat trend pattern. Mexico (+5.4 p.p.) and Brazil (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Chile and Argentina saw its share reduced by -1.6% and -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported hydraulic cylinders and systems in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was held by Mexico ($X), with a 21% share of total imports. It was followed by Chile, with an 8.6% share.

In Brazil, hydraulic cylinder and system imports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+6.2% per year) and Chile (+2.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, approximately mirroring the previous year. Overall, the import price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 10%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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