Peru: Working Wire Machine Market 2024

Working Wire Machine Market Size in Peru

For the third year in a row, the Peruvian working wire machine market recorded growth in sales value, which increased by 76% to $X in 2021. In general, consumption, however, continues to indicate a noticeable reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Working Wire Machine Exports

Exports from Peru

Working wire machine exports from Peru dropped remarkably to X units in 2021, declining by -33.3% against the year before. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 200%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports contracted remarkably to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of 191%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Venezuela (X units) was the main destination for working wire machine exports from Peru, accounting for a approx. 50% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Venezuela was relatively modest.

In value terms, Bolivia ($X) remains the key foreign market for machines for working wire exports from Peru, comprising 65% of total exports. The second position in the ranking was held by Ecuador ($X), with a 27% share of total exports. It was followed by Chile, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia totaled +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+2.9% per year) and Chile (-9.2% per year).

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, with an increase of 35% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 87% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Venezuela ($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 the United States (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Peru

In 2021, overseas purchases of machines for working wire increased by 57% to X units, rising for the second year in a row after two years of decline. In general, imports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2016 with an increase of 127%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. Over the period under review, imports, however, saw a slight descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest working wire machine supplier to Peru, with a 40% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), twofold. The third position in this ranking was taken by India (X units), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-1.7% per year) and India (+24.1% per year).

In value terms, Belgium ($X), China ($X) and Switzerland ($X) constituted the largest working wire machine suppliers to Peru, with a combined 61% share of total imports. Italy, Denmark, Germany, India, Spain and Brazil lagged somewhat behind, together comprising a further 25%.

Spain, with a CAGR of +55.3%, recorded 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 2021, the average working wire machine import price amounted to $X per unit, picking up by 27% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, working wire machine import price increased by +43.7% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 56%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average 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 Denmark ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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