Latin America and the Caribbean: Market for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems 2024

Market Size for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in Latin America and the Caribbean

In 2022, the Latin American market for window or wall air conditioning systems, self-contained or split-systems increased by 12% to $X, rising for the sixth year in a row after two years of decline. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.1% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Production of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in Latin America and the Caribbean

In value terms, production of window or wall air conditioning systems, self-contained or split-systems surged to $X in 2022 estimated in export price. In general, production enjoyed strong growth. The growth pace was the most rapid in 2019 with an increase of 230% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Exports in Latin America and the Caribbean

In 2022, exports of window or wall air conditioning systems, self-contained or split-systems in Latin America and the Caribbean totaled X units, picking up by 2.5% compared with the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of window or wall air conditioning systems, self-contained or split-systems rose to $X in 2022. In general, exports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Mexico was the major exporter of window or wall air conditioning systems, self-contained or split-systems in Latin America and the Caribbean, with the volume of exports resulting at X units, which was near 68% of total exports in 2022. It was distantly followed by Panama (X units), comprising a 31% share of total exports.

Mexico was also the fastest-growing in terms of the window or wall air conditioning systems, self-contained or split-systems exports, with a CAGR of +7.4% from 2012 to 2022. Panama (-8.6%) illustrated a downward trend over the same period. While the share of Mexico (+37 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (-38.1 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) and Panama ($X) appeared to be the countries with the highest levels of exports in 2022.

Mexico, with a CAGR of +4.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, remaining stable against the previous year. Overall, the export price, however, saw a mild descent. The pace of growth appeared the most rapid in 2017 when the export price increased by 23% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while Mexico totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+1.1%).

Imports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Imports in Latin America and the Caribbean

In 2022, overseas purchases of window or wall air conditioning systems, self-contained or split-systems increased by 6.9% to X units, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of window or wall air conditioning systems, self-contained or split-systems rose markedly to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Mexico prevails in split-systems structure, amounting to X units, which was near 56% of total imports in 2022. Colombia (X units) held a 6.6% share (based on physical terms) of total imports, which put it in second place, followed by Chile (6.3%) and Venezuela (5.5%). Paraguay (X units), Ecuador (X units), Uruguay (X units), Cuba (X units), Panama (X units) and the Dominican Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to window, wall, or split air conditioning system imports into Mexico stood at +7.4%. At the same time, Chile (+16.1%), Cuba (+11.6%), Ecuador (+8.3%), Paraguay (+6.8%), the Dominican Republic (+6.6%) and Colombia (+2.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.1% from 2012-2022. Uruguay experienced a relatively flat trend pattern. By contrast, Panama (-9.4%) and Venezuela (-10.1%) illustrated a downward trend over the same period. Mexico (+21 p.p.), Chile (+4.4 p.p.) and Ecuador (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Panama and Venezuela saw its share reduced by -4.4% and -15% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported window or wall air conditioning systems, self-contained or split-systems in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was taken by Chile ($X), with a 6% share of total imports. It was followed by Paraguay, with a 5.9% share.

In Mexico, imports of window or wall air conditioning systems, self-contained or split-systems increased at an average annual rate of +8.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+10.6% per year) and Paraguay (+5.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, surging by 5.7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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