Latin America and the Caribbean: Air Conditioning Machine Market 2025

Air Conditioning Machine Market Size in Latin America and the Caribbean

For the third year in a row, the Latin American air conditioning machine market recorded decline in sales value, which decreased by -10.3% to $X in 2022. Over the period under review, consumption, however, showed a abrupt shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Air Conditioning Machine Production in Latin America and the Caribbean

In value terms, air conditioning machine production shrank to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Air Conditioning Machine Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of non-window or wall air conditioning machines increased by 59% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine exports surged to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of non-window or wall air conditioning machines, namely Mexico, represented more than two-thirds of total export.

Mexico was also the fastest-growing in terms of the non-window or wall air conditioning machines exports, with a CAGR of +14.8% from 2012 to 2022. While the share of Mexico (+6.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest air conditioning machine supplier in Latin America and the Caribbean.

In Mexico, air conditioning machine exports expanded at an average annual rate of +13.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -18.9% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 7.9% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then contracted significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to -1.2% per year.

Air Conditioning Machine Imports

Imports in Latin America and the Caribbean

After four years of decline, supplies from abroad of non-window or wall air conditioning machines increased by 22% to X units in 2022. Overall, imports, however, recorded a perceptible shrinkage. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports surged to $X in 2022. In general, imports, however, recorded a pronounced reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Mexico was the main importer of non-window or wall air conditioning machines in Latin America and the Caribbean, with the volume of imports accounting for X units, which was near 35% of total imports in 2022. Brazil (X units) took the second position in the ranking, distantly followed by Honduras (X units) and Chile (X units). All these countries together held near 29% share of total imports. The following importers - Argentina (X units), Peru (X units), Panama (X units), Colombia (X units), Ecuador (X units), Bolivia (X units), Venezuela (X units), Guatemala (X units) and El Salvador (X units) - together made up 25% of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of non-window or wall air conditioning machines. At the same time, Honduras (+20.1%), El Salvador (+4.5%) and Guatemala (+1.2%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.1% from 2012-2022. Panama experienced a relatively flat trend pattern. By contrast, Peru (-2.1%), Bolivia (-2.3%), Ecuador (-4.4%), Brazil (-4.9%), Chile (-6.1%), Colombia (-6.4%), Argentina (-8.2%) and Venezuela (-24.6%) illustrated a downward trend over the same period. Mexico (+14 p.p.) and Honduras (+6.8 p.p.) significantly strengthened its position in terms of the total imports, while Argentina and Venezuela saw its share reduced by -1.9% and -24.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported non-window or wall air conditioning machines in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was held by Brazil ($X), with a 15% share of total imports. It was followed by Chile, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-4.8% per year) and Chile (-4.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2016 when the import price increased by 7.8%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($X per unit), while Honduras ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform