Latin America and the Caribbean: Electronic Lamp Machine Market 2024

Electronic Lamp Machine Market Size in Latin America and the Caribbean

After seven years of growth, the Latin American electronic lamp machine market decreased by -0.7% to $X in 2021. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +84.2% against 2013 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Electronic Lamp Machine Production in Latin America and the Caribbean

In value terms, electronic lamp machine production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 32% against the previous year. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Electronic Lamp Machine Exports

Exports in Latin America and the Caribbean

After four years of decline, overseas shipments of machines for electric or electronic lamps, tubes, valves or flashbulbs increased by 107% to X units in 2021. Over the period under review, exports, however, recorded a precipitous shrinkage. The growth pace was the most rapid in 2013 when exports increased by 1,419% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, electronic lamp machine exports skyrocketed to $X in 2021. Overall, exports, however, faced a precipitous setback. The most prominent rate of growth was recorded in 2013 with an increase of 294%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Chile (X units) and Panama (X units) dominates exports structure, together committing 89% of total exports. Ecuador (X units), Trinidad and Tobago (X units), Brazil (X units), Guatemala (X units) and Mexico (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Panama (with a CAGR of +11.9%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Panama ($X) and Brazil ($X) were the countries with the highest levels of exports in 2021, together comprising 96% of total exports.

Among the main exporting countries, Panama, with a CAGR of +54.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, reducing by -1.8% against the previous year. Over the period under review, the export price, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2015 an increase of 124%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+38.3%), while the other leaders experienced mixed trends in the export price figures.

Electronic Lamp Machine Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of machines for electric or electronic lamps, tubes, valves or flashbulbs were imported in Latin America and the Caribbean; with an increase of 12% against the previous year's figure. In general, imports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 230%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electronic lamp machine imports rose remarkably to $X in 2021. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 649% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, Mexico (X units) was the key importer of machines for electric or electronic lamps, tubes, valves or flashbulbs, committing 44% of total imports. Chile (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Paraguay (13%) and Colombia (7.2%). Costa Rica (X units), Uruguay (X units), Peru (X units), Panama (X units), Bahamas (X units) and Argentina (X units) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +16.5% from 2012 to 2021. At the same time, Peru (+46.5%), Costa Rica (+31.6%), Colombia (+18.2%) and Argentina (+8.9%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +46.5% from 2012-2021. By contrast, Bahamas (-3.3%), Panama (-8.5%), Paraguay (-8.7%), Chile (-20.5%) and Uruguay (-29.5%) illustrated a downward trend over the same period. While the share of Mexico (+40 p.p.), Colombia (+6.6 p.p.), Costa Rica (+3.2 p.p.), Peru (+2.9 p.p.) and Argentina (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Uruguay (-23.7 p.p.) and Chile (-29.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported machines for electric or electronic lamps, tubes, valves or flashbulbs in Latin America and the Caribbean, comprising 79% of total imports. The second position in the ranking was held by Peru ($X), with a 4.8% share of total imports. It was followed by Colombia, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled +43.6%. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+81.0% per year) and Colombia (+6.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, reducing by -5.5% against the previous year. Over the period under review, the import price, however, showed a resilient expansion. The growth pace was the most rapid in 2014 when the import price increased by 127% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+24.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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