Latin America and the Caribbean: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Latin America and the Caribbean

In 2021, after three years of decline, there was significant growth in the Latin American oil dispensing pump market, when its value increased by 9.8% to $X. In general, consumption, however, showed a noticeable descent. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in Latin America and the Caribbean

In value terms, oil dispensing pump production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Oil Dispensing Pump Exports

Exports in Latin America and the Caribbean

In 2021, the amount of petrol and oil dispensing pumps exported in Latin America and the Caribbean expanded significantly to X units, increasing by 6.7% compared with the year before. Overall, exports, however, recorded a slight decline. The pace of growth appeared the most rapid in 2018 with an increase of 35%. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, oil dispensing pump exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 30% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil was the largest exporter of petrol and oil dispensing pumps in Latin America and the Caribbean, with the volume of exports amounting to X units, which was approx. 71% of total exports in 2021. Mexico (X units) ranks second in terms of the total exports with a 14% share, followed by Chile (8.4%).

Exports from Brazil increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, Chile (+21.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +21.5% from 2012-2021. By contrast, Mexico (-8.6%) illustrated a downward trend over the same period. Brazil (+22 p.p.) and Chile (+7.2 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -12.1% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest oil dispensing pump supplier in Latin America and the Caribbean, comprising 96% of total exports. The second position in the ranking was taken by Mexico ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-13.6% per year) and Chile (+15.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, surging by 5.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2014 when the export price increased by 26%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-0.3%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of petrol and oil dispensing pumps were imported in Latin America and the Caribbean; picking up by 48% on 2020 figures. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports rose notably to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 +66.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 51%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Chile (X units), distantly followed by Paraguay (X units), Mexico (X units), Guatemala (X units) and Colombia (X units) represented the major importers of petrol and oil dispensing pumps, together comprising 64% of total imports. Honduras (X units), Argentina (X units), El Salvador (X units), Brazil (X units), Peru (X units), Bolivia (X units), Ecuador (X units) and Panama (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bolivia (with a CAGR of +23.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported petrol and oil dispensing pumps in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was taken by Peru ($X), with an 8.5% share of total imports. It was followed by Paraguay, with a 6.5% share.

In Mexico, oil dispensing pump imports increased at an average annual rate of +10.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+1.7% per year) and Paraguay (+8.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, which is down by -27.4% against the previous year. Overall, the import price saw a noticeable setback. The growth pace was the most rapid in 2020 when the import price increased by 51%. As a result, import price attained the peak level of $X per unit, and then declined dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per unit), while Chile ($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 (+15.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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