MERCOSUR: Microwave Oven Market 2024

Microwave Oven Market Size in MERCOSUR

After five years of growth, the MERCOSUR microwave oven market decreased by -4.7% to $X in 2022. Overall, consumption saw a perceptible setback. The growth pace was the most rapid in 2021 when the market value increased by 7.6% against the previous year. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Microwave Oven Production in MERCOSUR

In value terms, microwave oven production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Microwave Oven Exports

Exports in MERCOSUR

In 2022, the amount of microwave ovens exported in MERCOSUR expanded significantly to X units, surging by 13% compared with the previous year. Over the period under review, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 128%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, microwave oven exports dropped rapidly to $X in 2022. Overall, exports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 174% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Brazil was the largest exporter of microwave ovens in MERCOSUR, with the volume of exports finishing at X units, which was approx. 51% of total exports in 2022. Chile (X units) ranks second in terms of the total exports with a 20% share, followed by Ecuador (13%) and Colombia (6.2%). Guyana (X units), Argentina (X units) and Suriname (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to microwave oven exports from Brazil stood at +12.7%. At the same time, Ecuador (+50.5%), Argentina (+34.1%), Guyana (+31.4%) and Suriname (+7.9%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +50.5% from 2012-2022. By contrast, Chile (-15.0%) and Colombia (-25.5%) illustrated a downward trend over the same period. While the share of Brazil (+45 p.p.), Ecuador (+13 p.p.), Guyana (+3.7 p.p.) and Argentina (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-22 p.p.) and Colombia (-43.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest microwave oven supplier in MERCOSUR, comprising 70% of total exports. The second position in the ranking was held by Brazil ($X), with a 21% share of total exports. It was followed by Ecuador, with a 4.3% share.

In Chile, microwave oven exports decreased by an average annual rate of -6.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+5.3% per year) and Ecuador (+47.6% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per unit, falling by -30.8% against the previous year. Overall, the export price, however, saw a moderate expansion. The growth pace was the most rapid in 2020 an increase of 103% against the previous year. The level of export peaked at $X per unit in 2021, and then reduced notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+16.2%), while the other leaders experienced more modest paces of growth.

Microwave Oven Imports

Imports in MERCOSUR

In 2022, the amount of microwave ovens imported in MERCOSUR reduced remarkably to X units, waning by -27.9% on the previous year's figure. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2021 when imports increased by 69% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, microwave oven imports declined significantly to $X in 2022. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 81% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X units), distantly followed by Peru (X units), Colombia (X units), Ecuador (X units), Uruguay (X units) and Venezuela (X units) were the major importers of microwave ovens, together mixing up 89% of total imports. Paraguay (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of +2.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest microwave oven importing markets in MERCOSUR were Chile ($X), Peru ($X) and Colombia ($X), together comprising 63% of total imports. Ecuador, Paraguay, Uruguay and Venezuela lagged somewhat behind, together accounting for a further 24%.

In terms of the main importing countries, Paraguay, with a CAGR of +4.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per unit, growing by 4.1% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 9.2% against the previous year. The level of import peaked 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 Paraguay ($X per unit), while Colombia ($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 (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform