Latin America and the Caribbean: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in Latin America and the Caribbean

In 2021, the Latin American railway maintenance vehicle market decreased by -6.2% to $X, falling for the second year in a row after three years of growth. Overall, consumption continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Railway Maintenance Vehicle Production in Latin America and the Caribbean

In value terms, railway maintenance vehicle production rose rapidly to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.5% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 73%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Railway Maintenance Vehicle Exports

Exports in Latin America and the Caribbean

In 2021, exports of railway or tramway maintenance or service vehicles in Latin America and the Caribbean surged to X units, rising by 52% compared with the previous year's figure. Over the period under review, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 355%. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, railway maintenance vehicle exports fell modestly to $X in 2021. In general, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 90%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil prevails in exports structure, finishing at X units, which was near 76% of total exports in 2021. Chile (X units) held the second position in the ranking, followed by Mexico (X units). All these countries together held near 15% share of total exports. The following exporters - Bolivia (X units), the Dominican Republic (X units), Peru (X units) and Uruguay (X units) - each resulted at a 9.8% share of total exports.

Brazil was also the fastest-growing in terms of the railway or tramway maintenance or service vehicles exports, with a CAGR of +20.9% from 2012 to 2021. At the same time, Chile (+18.9%) displayed positive paces of growth. The Dominican Republic experienced a relatively flat trend pattern. By contrast, Peru (-9.4%), Bolivia (-11.5%), Mexico (-11.5%) and Uruguay (-83.3%) illustrated a downward trend over the same period. Brazil (+76 p.p.), Chile (+9.8 p.p.), the Dominican Republic (+2.4 p.p.), Uruguay (+2.4 p.p.) and Peru (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Bolivia and Mexico saw its share reduced by -19% and -38% from 2012 to 2021, respectively.

In value terms, the largest railway maintenance vehicle supplying countries in Latin America and the Caribbean were the Dominican Republic ($X), Chile ($X) and Brazil ($X), together comprising 94% of total exports.

In terms of the main exporting countries, the Dominican Republic, with a CAGR of +66.8%, recorded the highest rates of growth with regard to 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

The export price in Latin America and the Caribbean stood at $X per unit in 2021, dropping by -37.3% against the previous year. In general, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 493%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-3.6%), while the other leaders experienced a decline in the export price figures.

Railway Maintenance Vehicle Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of railway or tramway maintenance or service vehicles decreased by -16.3% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2016 when imports increased by 2,768%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, railway maintenance vehicle imports contracted sharply to $X in 2021. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by 71% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Panama (X units) represented the major importer of railway or tramway maintenance or service vehicles, committing 33% of total imports. Chile (X units) ranks second in terms of the total imports with an 18% share, followed by Uruguay (16%), Bolivia (11%) and Ecuador (7.7%). The following importers - Peru (X units) and Brazil (X units) - together made up 5.7% of total imports.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +46.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Uruguay ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 61% of total imports.

In terms of the main importing countries, Uruguay, with a CAGR of +82.1%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, dropping by -37.9% against the previous year. In general, the import price showed a abrupt slump. The pace of growth was the most pronounced in 2017 an increase of 2,447%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per unit), while Panama ($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 (+23.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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