Peru: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Peru

In 2022, after three years of growth, there was significant decline in the Peruvian market for vacuum pumps and air or gas compressors, when its value decreased by -9.7% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Peru

After two years of growth, overseas shipments of vacuum pumps and air or gas compressors decreased by -22.6% to X units in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 220% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of vacuum pumps and air or gas compressors rose remarkably to $X in 2022. Overall, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 128% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Bolivia (X units), Colombia (X units) and the United States (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Peru, together accounting for 93% of total exports. Argentina, Belgium and Chile lagged somewhat behind, together accounting for a further 5.5%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +61.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Peru, comprising 66% of total exports. The second position in the ranking was held by Colombia ($X), with a 5.4% share of total exports. It was followed by Bolivia, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-5.8% per year) and Bolivia (+11.5% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, with an increase of 39% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 an increase of 237% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Bolivia ($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 Paraguay (+267.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Peru

In 2022, purchases abroad of vacuum pumps and air or gas compressors decreased by -8.7% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2020 when imports increased by 28%. Over the period under review, imports of reached the maximum at X units in 2021, and then reduced in the following year.

In value terms, imports of vacuum pumps and air or gas compressors shrank to $X in 2022. Overall, imports showed a noticeable shrinkage. The growth pace was the most rapid in 2016 with an increase of 30% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to Peru, with a 83% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by Brazil (X units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+17.1% per year) and Brazil (-15.9% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest vacuum pump and air or gas compressor suppliers to Peru, together comprising 55% of total imports.

In terms of the main suppliers, China, with a CAGR of +7.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, falling by -2.7% against the previous year. Overall, the import price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 when the average import price increased by 28%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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