Peru: Objective Lens Market 2024

Objective Lens Market Size in Peru

The Peruvian objective lens market surged to $X in 2021, with an increase of 63% 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, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.8% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Objective Lens Exports

Exports from Peru

In 2021, approx. X units of objective lenses for cameras, projectors or photographic enlargers or reducers were exported from Peru; increasing by 433% against the year before. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 2,967%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, objective lens exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant increase. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for objective lens exports from Peru, with a 69% share of total exports. Moreover, objective lens exports to Colombia exceeded the volume sent to the second major destination, Ecuador (X units), sixfold. Bolivia (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to +40.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (0.0% per year) and Bolivia (-22.9% per year).

In value terms, Colombia ($X) remains the key foreign market for objective lenses for cameras, projectors or photographic enlargers or reducers exports from Peru, comprising 86% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Chile, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +179.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.8% per year) and Chile (+32.6% per year).

Export Prices by Country

The average objective lens export price stood at $X per unit in 2021, growing by 7,629% against the previous year. Overall, the export price posted resilient growth. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Bolivia ($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 Colombia (+28.1%), while the prices for the other major destinations experienced mixed trend patterns.

Objective Lens Imports

Imports into Peru

In 2021, approx. X units of objective lenses for cameras, projectors or photographic enlargers or reducers were imported into Peru; rising by 88% compared with the previous year's figure. Over the period under review, imports recorded strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, objective lens imports skyrocketed to $X in 2021. In general, imports showed tangible growth. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest objective lens supplier to Peru, accounting for a 68% share of total imports. Moreover, objective lens imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. The third position in this ranking was taken by Malaysia (X units), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.1% per year) and Malaysia (+4.9% per year).

In value terms, the largest objective lens suppliers to Peru were China ($X), Japan ($X) and Thailand ($X), together comprising 57% of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +34.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average objective lens import price stood at $X per unit in 2021, waning by -24.7% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2016 an increase of 17%. The import price peaked at $X per unit in 2017; however, from 2018 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 Thailand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+20.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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