Latin America and the Caribbean: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2025

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Latin America and the Caribbean

In 2021, the Latin American non-electronic hydro- and hygrometers market decreased by -0.1% to $X, falling for the third consecutive year after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Non-Electronic Hydro-, Hygro-, Psychrometers in Latin America and the Caribbean

In value terms, non-electronic hydro- and hygrometers production fell to $X in 2021 estimated in export price. In general, production saw a pronounced setback. The growth pace was the most rapid in 2018 with an increase of 46% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports in Latin America and the Caribbean

In 2021, overseas shipments of non-electronic hydro-, hygro-, psychrometers increased by 89% to X units, rising for the third year in a row after five years of decline. Over the period under review, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electronic hydro- and hygrometers exports skyrocketed to $X in 2021. In general, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, recording X units, which was near 84% of total exports in 2021. It was distantly followed by Brazil (X units), comprising a 5.1% share of total exports. Colombia (X units) and Costa Rica (X units) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the non-electronic hydro-, hygro-, psychrometers exports, with a CAGR of +9.7% from 2012 to 2021. At the same time, Colombia (+1.3%) displayed positive paces of growth. By contrast, Brazil (-1.7%) and Costa Rica (-12.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +27 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest non-electronic hydro- and hygrometers supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 1.8% share of total exports. It was followed by Colombia, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +15.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-1.0% per year) and Colombia (+1.9% 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 17% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 34%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Costa Rica (+8.9%), while the other leaders experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports in Latin America and the Caribbean

In 2021, the amount of non-electronic hydro-, hygro-, psychrometers imported in Latin America and the Caribbean surged to X units, with an increase of 26% on 2020 figures. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.4% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electronic hydro- and hygrometers imports soared to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the largest importing country with an import of around X units, which finished at 36% of total imports. The Dominican Republic (X units) held the second position in the ranking, followed by Brazil (X units), Peru (X units) and Ecuador (X units). All these countries together held near 31% share of total imports. Colombia (X units), Guatemala (X units), Argentina (X units), Costa Rica (X units), Chile (X units), El Salvador (X units), Panama (X units) and Honduras (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-electronic hydro- and hygrometers imports into Mexico stood at +7.4%. At the same time, the Dominican Republic (+61.8%), Panama (+16.5%), Honduras (+12.0%), Guatemala (+9.1%), Brazil (+8.8%), Peru (+7.6%), Ecuador (+6.7%) and Colombia (+6.2%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +61.8% from 2012-2021. Costa Rica and Argentina experienced a relatively flat trend pattern. By contrast, El Salvador (-1.7%) and Chile (-2.4%) illustrated a downward trend over the same period. The Dominican Republic (+11 p.p.), Mexico (+2.7 p.p.) and Brazil (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Costa Rica, El Salvador, Argentina and Chile saw its share reduced by -2.2%, -2.3%, -2.4% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported non-electronic hydro-, hygro-, psychrometers in Latin America and the Caribbean, comprising 40% of total imports. The second position in the ranking was held by the Dominican Republic ($X), with an 11% share of total imports. It was followed by Chile, with a 9.2% share.

In Mexico, non-electronic hydro- and hygrometers imports expanded at an average annual rate of +7.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (+48.2% per year) and Chile (+0.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2018 an increase of 8.4% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per unit), while Honduras ($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 (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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