Latin America and the Caribbean: Market for Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Numerically Controlled Drilling Machines For Working Metal in Latin America and the Caribbean

In 2021, the Latin American numerically controlled drilling machine market decreased by -2.2% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Numerically Controlled Drilling Machines For Working Metal in Latin America and the Caribbean

In value terms, numerically controlled drilling machine production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 69%. Over the period under review, production attained the peak level at $X in 2020, and then fell slightly in the following year.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports in Latin America and the Caribbean

For the fifth year in a row, LatAmerica and the Caribbean recorded growth in overseas shipments of numerically controlled drilling machines for working metal, which increased by 10% to X tons in 2021. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 86% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, numerically controlled drilling machine exports soared to $X in 2021. In general, exports showed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 68%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Chile represented the main exporting country with an export of around X tons, which reached 61% of total exports. It was distantly followed by Mexico (X tons), Argentina (X tons), Panama (X tons) and Brazil (X tons), together constituting a 39% share of total exports.

Exports from Chile increased at an average annual rate of +24.6% from 2012 to 2021. At the same time, Mexico (+33.1%), Panama (+29.9%), Brazil (+25.1%) and Argentina (+7.4%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +33.1% from 2012-2021. From 2012 to 2021, the share of Mexico, Chile and Panama increased by +9.7, +6.7 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest numerically controlled drilling machine supplier in Latin America and the Caribbean, comprising 82% of total exports. The second position in the ranking was held by Mexico ($X), with a 10% share of total exports. It was followed by Argentina, with a 3.8% share.

In Chile, numerically controlled drilling machine exports increased at an average annual rate of +25.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+30.2% per year) and Argentina (+5.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 65% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports in Latin America and the Caribbean

In 2021, numerically controlled drilling machine imports in Latin America and the Caribbean dropped notably to X tons, falling by -29.1% against 2020. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 104% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, numerically controlled drilling machine imports reduced remarkably to $X in 2021. Over the period under review, imports faced a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 189% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil represented the major importer of numerically controlled drilling machines for working metal in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was approx. 41% of total imports in 2021. Chile (X tons) held the second position in the ranking, followed by Saint Vincent and the Grenadines (X tons), Argentina (X tons) and Mexico (X tons). All these countries together held near 40% share of total imports. The following importers - Peru (X tons) and Paraguay (X tons) - each finished at a 6% share of total imports.

Imports into Brazil decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, Saint Vincent and the Grenadines (+44.0%) and Argentina (+15.8%) displayed positive paces of growth. Moreover, Saint Vincent and the Grenadines emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +44.0% from 2012-2021. Paraguay experienced a relatively flat trend pattern. By contrast, Chile (-5.3%), Peru (-11.1%) and Mexico (-25.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saint Vincent and the Grenadines, Argentina, Chile, Brazil and Paraguay increased by +10, +6.9, +6.7, +3 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported numerically controlled drilling machines for working metal in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was held by Argentina ($X), with a 10% share of total imports. It was followed by Mexico, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at -10.6%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+20.3% per year) and Mexico (-27.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -2.8% against the previous year. In general, the import price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2017 when the import price increased by 42% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :