Panama: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Panama

In 2022, the Panamanian market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Panama

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process rose markedly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports from Panama

In 2022, after two years of decline, there was significant growth in shipments abroad of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process, when their volume increased by X% to X units. In general, exports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process surged to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X units), Guatemala (X units) and Cuba (X units) were the main destinations of exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Panama, with a combined X% share of total exports. Moreover, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in Guyana exceeded the figures recorded by the second-largest exporter, Guatemala, twofold.

From 2012 to 2022, the biggest increases were recorded for Guyana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X), Colombia ($X) and Venezuela ($X) were the largest markets for machinery for material treatment by heating or cooling process exported from Panama worldwide, with a combined X% share of total exports. Guatemala, Guyana, Bahamas, Costa Rica, the Dominican Republic, El Salvador, Brazil, Chile, Barbados and Belize lagged somewhat behind, together comprising a further X%.

Guyana, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price, however, continues to indicate a abrupt shrinkage. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports into Panama

In 2022, the amount of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process imported into Panama reduced dramatically to X units, with a decrease of X% against 2021 figures. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process dropped notably to $X in 2022. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of machinery for material treatment by heating or cooling process to Panama, with a X% share of total imports. Moreover, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), twofold. The third position in this ranking was taken by China (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and China (X% per year).

In value terms, Free Zones ($X), the United States ($X) and Brazil ($X) were the largest machinery for material treatment by heating or cooling process suppliers to Panama, together accounting for X% of total imports.

Free Zones, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2022, falling by X% against the previous year. In general, the import price, however, recorded strong growth. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per unit, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform