Latin America and the Caribbean: Pedestrian-Controlled Tractor Market 2024

Pedestrian-Controlled Tractor Market Size in Latin America and the Caribbean

The Latin American pedestrian-controlled tractor market rose rapidly to $X in 2022, surging by 5.4% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Pedestrian-Controlled Tractor Production in Latin America and the Caribbean

In value terms, pedestrian-controlled tractor production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pedestrian-Controlled Tractor Exports

Exports in Latin America and the Caribbean

In 2022, exports of pedestrian-controlled tractors in Latin America and the Caribbean shrank dramatically to X units, which is down by -50.2% against the previous year's figure. Over the period under review, exports saw a perceptible decrease. The pace of growth was the most pronounced in 2019 when exports increased by 382% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, pedestrian-controlled tractor exports dropped dramatically to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 394% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Chile (X units), Uruguay (X units), Brazil (X units) and Argentina (X units) represented the main exporter of pedestrian-controlled tractors in Latin America and the Caribbean, mixing up 62% of total export. The Dominican Republic (X units) took the next position in the ranking, followed by Suriname (X units). All these countries together held approx. 15% share of total exports. Belize (X units), El Salvador (X units), Guatemala (X units), Trinidad and Tobago (X units), Barbados (X units) and Costa Rica (X units) took a little 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 Guatemala (with a CAGR of +53.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pedestrian-controlled tractor supplying countries in Latin America and the Caribbean were Chile ($X), Argentina ($X) and Brazil ($X), with a combined 56% share of total exports.

In terms of the main exporting countries, Chile, with a CAGR of +74.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -22.3% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pedestrian-controlled tractor export price increased by +13.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 56%. Over the period under review, the export prices reached the maximum at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+16.8%), while the other leaders experienced more modest paces of growth.

Pedestrian-Controlled Tractor Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of pedestrian-controlled tractors increased by 14% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 55%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, pedestrian-controlled tractor imports skyrocketed to $X in 2022. In general, imports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 55% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Guyana (X units), Belize (X units), Peru (X units) and Brazil (X units) represented roughly 66% of total imports in 2022. Argentina (X units) ranks next in terms of the total imports with a 7.3% share, followed by Suriname (6.1%), Ecuador (4.7%) and Bolivia (4.6%).

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +20.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guyana ($X), Belize ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, together accounting for 42% of total imports.

In terms of the main importing countries, Argentina, with a CAGR of +20.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by 6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.1% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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