Panama: Market for Pneumatic Linear Acting Actuators 2024

Market Size for Pneumatic Linear Acting Actuators in Panama

The Panamanian pneumatic linear acting actuator market contracted slightly to $X in 2022, reducing by -4.7% against the previous year. In general, consumption saw a perceptible decrease. Pneumatic linear acting actuator consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Pneumatic Linear Acting Actuators in Panama

In value terms, pneumatic linear acting actuator production declined slightly to $X in 2022 estimated in export price. In general, production saw a perceptible curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 48%. Pneumatic linear acting actuator production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Pneumatic Linear Acting Actuators

Exports from Panama

In 2022, approx. X units of pneumatic linear acting actuators were exported from Panama; growing by 99% against the previous year's figure. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 999% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, pneumatic linear acting actuator exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 704%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units), the Dominican Republic (X units) and Suriname (X units) were the main destinations of pneumatic linear acting actuator exports from Panama, with a combined 73% share of total exports. Trinidad and Tobago, Ecuador, the United States and Costa Rica lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +38.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pneumatic linear acting actuator exported from Panama were the Dominican Republic ($X), Venezuela ($X) and Ecuador ($X), together comprising 74% of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +31.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average pneumatic linear acting actuator export price amounted to $X per unit, declining by -13.7% against the previous year. In general, the export price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2017 an increase of 61% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Suriname ($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 Trinidad and Tobago (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Linear Acting Actuators

Imports into Panama

For the third year in a row, Panama recorded growth in purchases abroad of pneumatic linear acting actuators, which increased by 6.6% to X units in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 401%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, pneumatic linear acting actuator imports surged to $X in 2022. Overall, imports saw a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 433%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of pneumatic linear acting actuator imports to Panama, together accounting for 51% of total imports. Australia, Free Zones, Italy, Japan, South Africa, South Korea, Belgium, Finland, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +306.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pneumatic linear acting actuator suppliers to Panama were Germany ($X), China ($X) and the United States ($X), with a combined 39% share of total imports. Australia, Japan, Finland, South Korea, Free Zones, Taiwan (Chinese), South Africa, Italy, Belgium and Brazil lagged somewhat behind, together accounting for a further 51%.

Belgium, with a CAGR of +84.1%, saw the highest growth rate of 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 pneumatic linear acting actuator import price amounted to $X per unit, growing by 17% against the previous year. Over the period under review, the import price posted prominent growth. The pace of growth was the most pronounced in 2018 an increase of 36% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Finland ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform