Panama: Market for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA 2024

Market Size for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA in Panama

For the fourth year in a row, the Panamanian market for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA recorded decline in sales value, which decreased by -1.3% to $X in 2022. In general, consumption showed a pronounced decline. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Diesel or Semi-Diesel Electric Generating Sets of Output Over X kVA but Under X kVA in Panama

In value terms, production of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2013 when the production volume increased by 52% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Exports from Panama

Exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from Panama soared to X units in 2022, increasing by 20% compared with the previous year. Overall, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2016 with an increase of 50% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA surged to $X in 2022. Over the period under review, exports, however, faced a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 152%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Zimbabwe (X units) was the main destination for exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from Panama, with a 17% share of total exports. Moreover, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to Zimbabwe exceeded the volume sent to the second major destination, Venezuela (X units), threefold. Cuba (X units) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to Zimbabwe totaled -8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-4.0% per year) and Cuba (0.0% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA exports from Panama, comprising 38% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 15% share of total exports. It was followed by Costa Rica, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Zimbabwe amounted to -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-10.8% per year) and Costa Rica (-4.1% per year).

Export Prices by Country

In 2022, the average export price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA amounted to $X per unit, jumping by 59% against the previous year. Overall, the export price, however, recorded a deep setback. The growth pace was the most rapid in 2019 an increase of 79% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Chile ($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 Bahamas (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Imports into Panama

In 2022, approx. X units of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA were imported into Panama; waning by -12.9% compared with 2021. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2017 with an increase of 745%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA fell to $X in 2022. In general, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 961% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Free Zones (X units) and Peru (X units) were the main suppliers of imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to Panama, with a combined 78% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +54.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diesel or semi-diesel electric generating set of output over X kVA but under X kVA suppliers to Panama were China ($X), Free Zones ($X) and Peru ($X), with a combined 79% share of total imports.

Free Zones, with a CAGR of +111.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA amounted to $X per unit, picking up by 2.9% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 214% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and France ($X per unit), while the price for Brazil ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+43.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform