Latin America and the Caribbean: Test Bench Market 2025

Test Bench Market Size in Latin America and the Caribbean

The Latin American test bench market reduced slightly to $X in 2022, waning by -3.1% against the previous year. Over the period under review, consumption, however, continues to indicate strong growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Test Bench Production in Latin America and the Caribbean

In value terms, test bench production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2018 with an increase of 72% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Test Bench Exports

Exports in Latin America and the Caribbean

In 2022, the amount of test benches exported in Latin America and the Caribbean skyrocketed to X units, with an increase of 30% on the previous year's figure. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by 72%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, test bench exports surged to $X in 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2017 with an increase of 62% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico was the largest exporter of test benches in Latin America and the Caribbean, with the volume of exports reaching X units, which was approx. 67% of total exports in 2022. Brazil (X units) ranks second in terms of the total exports with a 13% share, followed by Colombia (4.7%). Argentina (X units), Honduras (X units), Paraguay (X units) and Chile (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to test bench exports from Mexico stood at +13.7%. At the same time, Colombia (+18.0%), Paraguay (+16.2%) and Honduras (+11.4%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +18.0% from 2012-2022. Brazil and Chile experienced a relatively flat trend pattern. By contrast, Argentina (-8.0%) illustrated a downward trend over the same period. While the share of Mexico (+29 p.p.) and Colombia (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-2.6 p.p.), Brazil (-13.3 p.p.) and Argentina (-15.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest test bench supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was held by Brazil ($X), with a 10% share of total exports. It was followed by Honduras, with a 7.7% share.

In Mexico, test bench exports expanded at an average annual rate of +12.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-3.2% per year) and Honduras (+11.6% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -8.4% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 25% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Honduras ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Test Bench Imports

Imports in Latin America and the Caribbean

In 2022, test bench imports in Latin America and the Caribbean rose sharply to X units, picking up by 8.3% compared with the previous year's figure. Over the period under review, imports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 11%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, test bench imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a perceptible contraction. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of test bench imports in 2022 were Brazil (X units), Mexico (X units) and Argentina (X units), together resulting at 69% of total import. Colombia (X units) ranks next in terms of the total imports with a 7.1% share, followed by Peru (6.4%). Ecuador (X units) and Chile (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +5.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest test bench importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), with a combined 82% share of total imports. Peru, Colombia, Chile and Ecuador lagged somewhat behind, together accounting for a further 12%.

Peru, with a CAGR of +5.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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