Latin America and the Caribbean: Static Converter Market 2024

Static Converter Market Size in Latin America and the Caribbean

The Latin American static converter market soared to $X in 2021, jumping by 85% against the previous year. In general, consumption recorded a perceptible expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Static Converter Production in Latin America and the Caribbean

In value terms, static converter production reduced to $X in 2021 estimated in export price. Overall, production recorded a mild contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Static Converter Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of static converters decreased by -67.6% to X units, falling for the second consecutive year after eight years of growth. Overall, exports, however, showed prominent growth. The growth pace was the most rapid in 2015 with an increase of 261%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, static converter exports totaled $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +85.6% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, amounting to X units, which was approx. 91% of total exports in 2021. The following exporters - Guatemala (X units), Costa Rica (X units) and Brazil (X units) - each amounted to a 5.3% share of total exports.

Exports from Mexico increased at an average annual rate of +8.1% from 2012 to 2021. At the same time, Costa Rica (+22.8%) and Guatemala (+16.0%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +22.8% from 2012-2021. By contrast, Brazil (-3.9%) illustrated a downward trend over the same period. Mexico (+8.9 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -2.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest static converter supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4% share of total exports. It was followed by Costa Rica, with a 0.3% share.

In Mexico, static converter exports expanded at an average annual rate of +8.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-3.9% per year) and Costa Rica (+8.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, increasing by 249% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+0.2%), while the other leaders experienced a decline in the export price figures.

Static Converter Imports

Imports in Latin America and the Caribbean

Static converter imports skyrocketed to X units in 2021, increasing by 26% compared with 2020. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, static converter imports surged to $X in 2021. The total import value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X units), distantly followed by Brazil (X units) and Colombia (X units) were the key importers of static converters, together comprising 72% of total imports. Argentina (X units), Chile (X units), Peru (X units), Costa Rica (X units), Guatemala (X units), Panama (X units), Paraguay (X units) and Ecuador (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported static converters in Latin America and the Caribbean, comprising 55% of total imports. The second position in the ranking was held by Brazil ($X), with a 23% share of total imports. It was followed by Chile, with a 4.5% share.

In Mexico, static converter imports expanded at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+6.6% per year) and Chile (+5.9% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2015 when the import price increased by 6.9% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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