Peru: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Peru

The Peruvian air conditioning machine market contracted slightly to $X in 2021, shrinking by -4.7% 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). Over the period under review, consumption saw a pronounced reduction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Air Conditioning Machine Exports

Exports from Peru

In 2021, shipments abroad of air conditioning machines decreased by -58.2% to X units, falling for the third year in a row after seven years of growth. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 408% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, air conditioning machine exports reduced rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 131% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Panama (X units) was the main destination for air conditioning machine exports from Peru, with a 49% share of total exports. Moreover, air conditioning machine exports to Panama exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The United States (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama stood at +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+37.9% per year) and the United States (+17.7% per year).

In value terms, Ecuador ($X) emerged as the key foreign market for air conditioning machine exports from Peru, comprising 53% of total exports. The second position in the ranking was taken by Panama ($X), with a 20% share of total exports. It was followed by the United States, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+24.3% per year) and the United States (+23.4% per year).

Export Prices by Country

The average air conditioning machine export price stood at $X per unit in 2021, growing by 44% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, air conditioning machine export price increased by +141.2% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Ecuador ($X per unit), while the average price for exports to Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Peru

In 2021, the amount of air conditioning machines imported into Peru fell modestly to X units, dropping by -1.9% compared with 2020 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 31%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, air conditioning machine imports reduced to $X in 2021. Over the period under review, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 14% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of air conditioning machine to Peru, with a 80% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Brazil (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.6% per year) and Brazil (-12.5% per year).

In value terms, China ($X) constituted the largest supplier of air conditioning machine to Peru, comprising 47% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by Brazil, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.5% per year) and Brazil (-13.9% per year).

Import Prices by Country

In 2021, the average air conditioning machine import price amounted to $X per unit, dropping by -4.1% against the previous year. Over the period under review, the import price saw a abrupt setback. The growth pace was the most rapid in 2018 an increase of 22%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+12.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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