MERCOSUR: Heat Pump Market 2024

Heat Pump Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of heat pumps (other than air conditioning machines) decreased by -29.1% to X units in 2021. In general, exports saw a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 72% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, heat pump exports reduced notably to $X in 2021. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X units) and Colombia (X units) represented the major exporters of heat pumps (other than air conditioning machines) in MERCOSUR, together recording approx. 73% of total exports. It was distantly followed by Chile (X units), creating a 22% share of total exports. Peru (X units) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +22.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X) remains the largest heat pump supplier in MERCOSUR, comprising 52% of total exports. The second position in the ranking was taken by Colombia ($X), with a 25% share of total exports. It was followed by Chile, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (-9.4% per year) and Chile (-8.4% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2021, with an increase of 18% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The pace of growth was the most pronounced in 2020 when the export price increased by 20% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.8%), while the other leaders experienced a decline in the export price figures.

Heat Pump Imports

Imports in MERCOSUR

In 2021, imports of heat pumps (other than air conditioning machines) in MERCOSUR soared to X units, jumping by 160% on 2020 figures. In general, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, heat pump imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Chile represented the key importer of heat pumps (other than air conditioning machines) in MERCOSUR, with the volume of imports amounting to X units, which was approx. 45% of total imports in 2021. Brazil (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Uruguay (17%) and Argentina (11%). Ecuador (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to heat pump imports into Chile stood at +34.2%. At the same time, Argentina (+52.0%), Uruguay (+34.9%) and Brazil (+18.0%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +52.0% from 2012-2021. By contrast, Ecuador (-29.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Uruguay, Argentina, Brazil and Ecuador increased by +38, +15, +11, +9 and +3.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported heat pumps (other than air conditioning machines) in MERCOSUR, comprising 40% of total imports. The second position in the ranking was held by Uruguay ($X), with an 18% share of total imports. It was followed by Argentina, with a 14% share.

In Chile, heat pump imports increased at an average annual rate of +21.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Uruguay (+24.4% per year) and Argentina (+36.9% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per unit, declining by -11.9% against the previous year. Over the period under review, the import price showed a deep slump. The growth pace was the most rapid in 2016 when the import price increased by 33%. The level of import peaked at $X per unit in 2013; however, from 2014 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 Ecuador ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+14.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform