Latin America and the Caribbean: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Latin America and the Caribbean

The Latin American machine-tool for drilling market expanded sharply to $X in 2022, growing by 14% against the previous year. In general, consumption, however, recorded a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Production in Latin America and the Caribbean

In value terms, machine-tool for drilling production contracted notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a temperate increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 79% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal increased by 76% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate moderate growth. The pace of growth appeared the most rapid in 2017 when exports increased by 211%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 26%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Chile (X units), distantly followed by Brazil (X units), Mexico (X units), Bolivia (X units), Honduras (X units), Guyana (X units), El Salvador (X units) and Colombia (X units) represented the major exporters of machine-tools for drilling, boring or milling metal, together committing 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +70.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest machine-tool for drilling supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Honduras ($X), with a combined 66% share of total exports. Colombia, Chile, Guyana, El Salvador and Bolivia lagged somewhat behind, together comprising a further 14%.

Among the main exporting countries, Colombia, with a CAGR of +21.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, dropping by -47.8% against the previous year. In general, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 186%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Machine-Tool For Drilling Imports

Imports in Latin America and the Caribbean

Machine-tool for drilling imports soared to X units in 2022, picking up by 29% compared with 2021 figures. Over the period under review, imports, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 53%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports rose markedly to $X in 2022. In general, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X units) represented the main importer of machine-tools for drilling, boring or milling metal, mixing up 38% of total imports. Mexico (X units) ranks second in terms of the total imports with a 12% share, followed by Paraguay (10%), Chile (7.5%), El Salvador (6.5%), Peru (5.3%) and Barbados (4.8%). Colombia (X units) took a little share of total imports.

Imports into Brazil decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, El Salvador (+19.3%), Barbados (+12.4%), Paraguay (+4.0%), Peru (+3.9%) and Chile (+1.9%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +19.3% from 2012-2022. By contrast, Colombia (-2.0%) and Mexico (-10.8%) illustrated a downward trend over the same period. While the share of El Salvador (+5.5 p.p.), Paraguay (+4.4 p.p.), Barbados (+3.5 p.p.), Chile (+2.3 p.p.), Peru (+2.2 p.p.) and Brazil (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-19.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in Latin America and the Caribbean, comprising 44% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports. It was followed by Peru, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to -14.2%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-13.4% per year) and Peru (+1.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, which is down by -12.8% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 when the import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Barbados (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :