Latin America and the Caribbean: Industrial Robot Market 2024

Industrial Robot Market Size in Latin America and the Caribbean

In 2021, the Latin American industrial robot market increased by 20% to $X, rising for the fifth consecutive year after two years of decline. In general, consumption showed resilient growth. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the immediate term.

Industrial Robot Production in Latin America and the Caribbean

In value terms, industrial robot production contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 143% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then fell in the following year.

Industrial Robot Exports

Exports in Latin America and the Caribbean

Industrial robot exports fell notably to X units in 2021, with a decrease of -40.7% on the previous year. Overall, exports showed a slight contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 130%. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial robot exports reduced sharply to $X in 2021. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 191%. As a result, the exports reached the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Mexico was the largest exporting country with an export of about X units, which reached 57% of total exports. Brazil (X units) held a 29% share (based on physical terms) of total exports, which put it in second place, followed by Chile (7.3%). Costa Rica (X units) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Chile (with a CAGR of +29.6%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest industrial robot supplier in Latin America and the Caribbean, comprising 81% of total exports. The second position in the ranking was taken by Brazil ($X), with a 9.6% share of total exports. It was followed by Chile, with a 6.2% share.

In Mexico, industrial robot exports increased at an average annual rate of +6.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+13.3% per year) and Chile (+39.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, rising by 9.9% against the previous year. Over the period under review, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when the export price increased by 92%. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+237.9%), while the other leaders experienced more modest paces of growth.

Industrial Robot Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of industrial robots for multiple uses increased by 15% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 108% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial robot imports soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 150% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil was the key importer of industrial robots for multiple uses in Latin America and the Caribbean, with the volume of imports amounting to X units, which was near 46% of total imports in 2021. It was distantly followed by Mexico (X units) and Argentina (X units), together constituting a 35% share of total imports. The following importers - Ecuador (X units), Chile (X units), Peru (X units) and Costa Rica (X units) - together made up 14% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Costa Rica (with a CAGR of +46.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 87% of total imports. Argentina, Peru, Ecuador and Costa Rica lagged somewhat behind, together comprising a further 9.6%.

In terms of the main importing countries, Costa Rica, with a CAGR of +36.6%, recorded 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, rising by 5.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2015 an increase of 20%. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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 Mexico ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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