Panama: Hydraulic Press Market 2024

Hydraulic Press Market Size in Panama

The Panamanian hydraulic press market shrank significantly to $X in 2022, with a decrease of -31.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Hydraulic Press Exports

Exports from Panama

In 2022, the amount of hydraulic presses for working metal exported from Panama stood at X units, remaining stable against the previous year's figure. Over the period under review, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 13%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic press exports skyrocketed to $X in 2022. Overall, exports continue to indicate a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X units), Jamaica (X units) and Guyana (X units) were the main destinations of hydraulic press exports from Panama, with a combined 20% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X) remains the key foreign market for hydraulic presses for working metal exports from Panama, comprising 36% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 16% share of total exports. It was followed by Ecuador, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Honduras totaled +43.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+27.4% per year) and Ecuador (+37.4% per year).

Export Prices by Country

The average hydraulic press export price stood at $X per unit in 2022, with an increase of 544% against the previous year. In general, the export price, however, showed a deep downturn. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Jamaica ($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 Chile (+50.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Press Imports

Imports into Panama

In 2022, approx. X units of hydraulic presses for working metal were imported into Panama; with a decrease of -30.7% compared with 2021. Overall, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2017 when imports increased by 1,642%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, hydraulic press imports dropped notably to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 3,960%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the Netherlands (X units) and Italy (X units) were the main suppliers of hydraulic press imports to Panama, with a combined 61% share of total imports. Moreover, hydraulic press imports in China exceeded the figures recorded by the second-largest supplier, the Netherlands, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Venezuela ($X) constituted the largest hydraulic press suppliers to Panama, with a combined 65% share of total imports. South Korea, China, the Netherlands, Poland, Mexico, Spain and Uruguay lagged somewhat behind, together comprising a further 23%.

South Korea, with a CAGR of +53.9%, 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

In 2022, the average hydraulic press import price amounted to $X per unit, picking up by 4.4% against the previous year. Overall, the import price recorded a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of 133% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+28.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform