Latin America and the Caribbean: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Latin America and the Caribbean

The Latin American underground continuous-action elevator market fell slightly to $X in 2021, dropping by -3.4% against the previous year. In general, consumption faced a deep slump. The most prominent rate of growth was recorded in 2020 when the market value increased by 1.7%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Underground Continuous-Action Elevator Production in Latin America and the Caribbean

In value terms, underground continuous-action elevator production stood at $X in 2021 estimated in export price. In general, production saw a abrupt setback. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Underground Continuous-Action Elevator Exports

Exports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in shipments abroad of underground continuous-action elevators and conveyors, when their volume increased by 207% to X units. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 1,211%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator exports shrank slightly to $X in 2021. In general, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,448% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador prevails in exports structure, reaching X units, which was approx. 82% of total exports in 2021. Colombia (X units) held the second position in the ranking, followed by Brazil (X units). All these countries together held near 15% share of total exports. Chile (X units) held a minor share of total exports.

Ecuador was also the fastest-growing in terms of the underground continuous-action elevators and conveyors exports, with a CAGR of +45.7% from 2012 to 2021. At the same time, Colombia (+32.4%) displayed positive paces of growth. By contrast, Brazil (-8.1%) and Chile (-43.8%) illustrated a downward trend over the same period. Ecuador (+82 p.p.), Colombia (+9.6 p.p.) and Brazil (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by -82.8% from 2012 to 2021, respectively.

In value terms, the largest underground continuous-action elevator supplying countries in Latin America and the Caribbean were Ecuador ($X), Colombia ($X) and Brazil ($X), together comprising 96% of total exports.

Colombia, with a CAGR of +48.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by -67.6% against the previous year. In general, the export price showed a deep setback. The most prominent rate of growth was recorded in 2020 an increase of 162% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+11.8%), while the other leaders experienced mixed trends in the export price figures.

Underground Continuous-Action Elevator Imports

Imports in Latin America and the Caribbean

Underground continuous-action elevator imports skyrocketed to X units in 2021, increasing by 76% compared with the previous year's figure. Over the period under review, imports, however, showed a dramatic curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 171%. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator imports surged to $X in 2021. In general, imports, however, recorded a precipitous contraction. The growth pace was the most rapid in 2019 with an increase of 241%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X units) and Brazil (X units) prevails in imports structure, together making up 74% of total imports. It was distantly followed by Chile (X units), mixing up a 6.7% share of total imports. Paraguay (X units), Guyana (X units), Nicaragua (X units) and Argentina (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guyana (with a CAGR of +25.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) constitutes the largest market for imported underground continuous-action elevators and conveyors in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports. It was followed by Chile, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value in Colombia stood at +7.4%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-14.2% per year) and Chile (-36.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -22.4% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2016 when the import price increased by 35% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+11.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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