Latin America and the Caribbean: Milking Machine Market 2024

Milking Machine Market Size in Latin America and the Caribbean

The Latin American milking machine market reduced slightly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Milking Machine Production in Latin America and the Caribbean

In value terms, milking machine production declined to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 16%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Milking Machine Exports

Exports in Latin America and the Caribbean

In 2022, milking machine exports in Latin America and the Caribbean soared to X units, growing by 15% against the previous year's figure. In general, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, milking machine exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 48%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X units) and Uruguay (X units) prevails in exports structure, together making up 86% of total exports. Argentina (X units), El Salvador (X units) and Peru (X units) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by El Salvador (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest milking machine supplier in Latin America and the Caribbean, comprising 60% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 15% share of total exports. It was followed by Peru, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled -5.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Uruguay (-6.1% per year) and Peru (+5.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2015 an increase of 23%. The level of export peaked at $X per unit in 2013; however, from 2014 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 Peru ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-1.6%), while the other leaders experienced a decline in the export price figures.

Milking Machine Imports

Imports in Latin America and the Caribbean

Milking machine imports rose notably to X units in 2022, with an increase of 8.2% compared with 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, milking machine imports dropped to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Brazil represented the main importing country with an import of around X units, which reached 40% of total imports. Peru (X units) ranks second in terms of the total imports with an 11% share, followed by Ecuador (9%), Bolivia (8.2%), Colombia (7.4%), Argentina (6.6%) and Chile (4.7%).

Brazil was also the fastest-growing in terms of the milking machines imports, with a CAGR of +42.5% from 2012 to 2022. At the same time, Colombia (+9.1%), Chile (+8.9%), Peru (+8.5%), Bolivia (+7.2%) and Ecuador (+2.3%) displayed positive paces of growth. By contrast, Argentina (-2.4%) illustrated a downward trend over the same period. Brazil (+39 p.p.), Peru (+5.9 p.p.), Colombia (+4.3 p.p.), Bolivia (+4.1 p.p.), Chile (+2.7 p.p.) and Ecuador (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Argentina saw its share reduced by -1.9% from 2012 to 2022, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported milking machines in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total imports. It was followed by Chile, with a 7.7% share.

In Brazil, milking machine imports increased at an average annual rate of +42.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+5.0% per year) and Chile (+13.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, reducing by -12.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 26%. The level of import peaked at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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