Latin America and the Caribbean: Test And Measurement Market 2025

Test And Measurement Market Size in Latin America and the Caribbean

The Latin American test and measurement market rose modestly to $X in 2021, with an increase of 3.8% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +16.2% against 2018 indices. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Test And Measurement Production in Latin America and the Caribbean

In value terms, test and measurement production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 67%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Test And Measurement Exports

Exports in Latin America and the Caribbean

Test and measurement exports skyrocketed to X units in 2021, increasing by 780% against the previous year. In general, exports enjoyed a tangible increase. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, test and measurement exports rose remarkably to $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, accounting for X units, which was near 98% of total exports in 2021. Brazil (X units) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the instruments and apparatus for measuring or checking pressure of liquids or gasses exports, with a CAGR of +3.8% from 2012 to 2021. Brazil (-4.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +2 percentage points.

In value terms, Mexico ($X) remains the largest test and measurement supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.4% share of total exports.

In Mexico, test and measurement exports expanded at an average annual rate of +4.3% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, with a decrease of -87.4% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 853% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Mexico stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.4%).

Test And Measurement Imports

Imports in Latin America and the Caribbean

In 2021, the amount of instruments and apparatus for measuring or checking pressure of liquids or gasses imported in Latin America and the Caribbean expanded markedly to X units, picking up by 8.9% on 2020. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 19% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, test and measurement imports surged to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the main importer of instruments and apparatus for measuring or checking pressure of liquids or gasses in Latin America and the Caribbean, with the volume of imports amounting to X units, which was approx. 74% of total imports in 2021. Brazil (X units) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Paraguay (5.9%).

Imports into Mexico increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, Brazil (+10.7%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.7% from 2012-2021. By contrast, Paraguay (-19.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico and Brazil increased by +34 and +8.2 percentage points, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported instruments and apparatus for measuring or checking pressure of liquids or gasses in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico amounted to +6.0%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+4.1% per year) and Paraguay (+2.9% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, picking up by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 an increase of 17%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+27.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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