Latin America and the Caribbean: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Latin America and the Caribbean

The Latin American machine-tool for working metal market surged to $X in 2021, growing by 80% against the previous year. Overall, consumption, however, saw a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal in Latin America and the Caribbean

In value terms, machine-tool for working metal production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 11% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports in Latin America and the Caribbean

Machine-tool for working metal exports fell notably to X units in 2021, dropping by -51.2% against 2020 figures. Over the period under review, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2020 with an increase of 91%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports fell sharply to $X in 2021. Overall, exports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 94%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Brazil represented the largest exporting country with an export of about X units, which amounted to 64% of total exports. Mexico (X units) ranks second in terms of the total exports with a 15% share, followed by Colombia (10%). Peru (X units) held a little share of total exports.

Exports from Brazil decreased at an average annual rate of -3.6% from 2012 to 2021. At the same time, Peru (+36.8%) and Colombia (+9.7%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +36.8% from 2012-2021. By contrast, Mexico (-10.6%) illustrated a downward trend over the same period. While the share of Colombia (+7.1 p.p.), Brazil (+4.1 p.p.) and Peru (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-12.8 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest machine-tool for working metal supplier in Latin America and the Caribbean, comprising 74% of total exports. The second position in the ranking was taken by Mexico ($X), with a 19% share of total exports. It was followed by Peru, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value in Brazil amounted to -3.0%. In the other countries, the average annual rates were as follows: Mexico (-5.0% per year) and Peru (+42.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 54% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Colombia ($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 (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports in Latin America and the Caribbean

In 2021, overseas purchases of machine tools for working metal increased by 61% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a drastic downturn. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2021. Overall, imports, however, continue to indicate a pronounced slump. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of machine tools for working metal, namely Mexico, Chile, Brazil and Peru, represented more than two-thirds of total import. It was distantly followed by Colombia (X units) and Ecuador (X units), together generating a 15% share of total imports. Argentina (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +13.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported machine tools for working metal in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was held by Brazil ($X), with a 22% share of total imports. It was followed by Argentina, with a 5.6% share.

In Mexico, machine-tool for working metal imports increased at an average annual rate of +3.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-8.5% per year) and Argentina (+0.9% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, declining by -9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+10.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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