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Report Latin America and the Caribbean - Refrigerated Vessels (Ships) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Feb 1, 2025

Latin America and the Caribbean - Refrigerated Vessels (Ships) - Market Analysis, Forecast, Size, Trends and Insights

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Latin America and the Caribbean: Refrigerated Vessel Market 2025

Refrigerated Vessel Market Size in Latin America and the Caribbean

In 2022, the Latin American refrigerated vessel market decreased by -23.9% to $X for the first time since 2015, thus ending a six-year rising trend. Overall, consumption, however, continues to indicate strong growth. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Refrigerated Vessel Production in Latin America and the Caribbean

In value terms, refrigerated vessel production reached $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 398% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Refrigerated Vessel Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of refrigerated vessels (ships) decreased by 0% to X units, falling for the third year in a row after three years of growth. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2019 with an increase of 120% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refrigerated vessel exports shrank modestly to $X in 2022. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 55% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of refrigerated vessels (ships), namely Bahamas, represented more than two-thirds of total export.

Bahamas experienced a relatively flat trend pattern with regard to volume of exports of refrigerated vessels (ships). While the share of Bahamas (+93 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahamas ($X) also remains the largest refrigerated vessel supplier in Latin America and the Caribbean.

In Bahamas, refrigerated vessel exports expanded at an average annual rate of +8.4% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, which is down by -1.7% against the previous year. In general, the export price, however, posted a resilient increase. The pace of growth was the most pronounced in 2021 when the export price increased by 328% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Bahamas amounted to +8.4% per year.

Refrigerated Vessel Imports

Imports in Latin America and the Caribbean

In 2022, after five years of growth, there was significant decline in purchases abroad of refrigerated vessels (ships), when their volume decreased by -29.7% to X units. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 135%. Over the period under review, imports attained the peak figure at X units in 2021, and then fell significantly in the following year.

In value terms, refrigerated vessel imports declined rapidly to $X in 2022. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 98% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

Panama represented the major importing country with an import of around X units, which amounted to 83% of total imports. It was distantly followed by Cayman Islands (X units), generating a 13% share of total imports. Bahamas (X units) took a relatively small share of total imports.

Panama was also the fastest-growing in terms of the refrigerated vessels (ships) imports, with a CAGR of +36.0% from 2012 to 2022. Cayman Islands (-1.8%) and Bahamas (-6.7%) illustrated a downward trend over the same period. Panama (+71 p.p.) significantly strengthened its position in terms of the total imports, while Bahamas and Cayman Islands saw its share reduced by -21.2% and -37.2% from 2012 to 2022, respectively.

In value terms, Panama ($X) constitutes the largest market for imported refrigerated vessels (ships) in Latin America and the Caribbean, comprising 81% of total imports. The second position in the ranking was taken by Cayman Islands ($X), with a 15% share of total imports.

In Panama, refrigerated vessel imports expanded at an average annual rate of +37.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cayman Islands (-5.9% per year) and Bahamas (-12.9% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, rising by 7.1% against the previous year. Over the period under review, the import price, however, recorded a deep slump. The pace of growth was the most pronounced in 2015 when the import price increased by 30%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cayman Islands ($X per unit), while Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Cayman Islands constituted the country with the largest volume of refrigerated vessel consumption, comprising approx. 88% of total volume. Moreover, refrigerated vessel consumption in Cayman Islands exceeded the figures recorded by the second-largest consumer, Panama, ninefold.
The countries with the highest volumes of refrigerated vessel production in 2020 were Panama and Honduras.
In value terms, Panama remains the largest refrigerated vessel supplier in Latin America and the Caribbean.
In value terms, Panama constitutes the largest market for imported refrigerated vessels ships) in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was occupied by Cayman Islands, with a 33% share of total imports.
The refrigerated vessel export price in Latin America and the Caribbean stood at $30 per unit in 2020, declining by -47.5% against the previous year.
The refrigerated vessel import price in Latin America and the Caribbean stood at $24 per unit in 2020, reducing by -33.7% against the previous year.

This report provides an in-depth analysis of the refrigerated vessel market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 30112300 - Refrigerated vessels, except tankers

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Latin America and the Caribbean, split by region and country
  • Trade (exports and imports) in Latin America and the Caribbean
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Anguilla
    • Antigua and Barbuda
    • Argentina
    • Aruba
    • Bahamas
    • Barbados
    • Belize
    • Bolivia
    • Brazil
    • British Virgin Islands
    • Cayman Islands
    • Chile
    • Colombia
    • Costa Rica
    • Cuba
    • Curacao
    • Dominica
    • Dominican Republic
    • Ecuador
    • El Salvador
    • Falkland Islands (Malvinas)
    • French Guiana
    • Grenada
    • Guadeloupe
    • Guatemala
    • Guyana
    • Haiti
    • Honduras
    • Jamaica
    • Martinique
    • Mexico
    • Montserrat
    • Nicaragua
    • Panama
    • Paraguay
    • Peru
    • Saint Kitts and Nevis
    • Saint Lucia
    • Saint Vincent and the Grenadines
    • Saint Maarten (Dutch part)
    • Suriname
    • Trinidad and Tobago
    • Turks and Caicos Islands
    • United States Virgin Islands
    • Uruguay
    • Venezuela
    • Puerto Rico

  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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