Uruguay: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Uruguay

The Uruguayan market for industrial, laboratory or bakery ovens contracted sharply to $X in 2022, declining by -17.2% 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). In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +33.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Uruguay

In 2022, after two years of decline, there was significant growth in shipments abroad of industrial, laboratory or bakery ovens, when their volume increased by 20% to X units. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 267%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven exports contracted slightly to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 234% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Argentina (X units) was the main destination for industrial, laboratory or bakery oven exports from Uruguay, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina totaled +19.6%.

In value terms, Argentina ($X) also remains the key foreign market for industrial, laboratory or bakery ovens exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina amounted to +20.2%.

Export Prices by Country

The average export price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, shrinking by -16.9% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then reduced notably in the following year.

As there is only one major export destination, the average price level is determined by prices for Argentina.

From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to +0.5% per year.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Uruguay

In 2022, industrial, laboratory or bakery oven imports into Uruguay contracted dramatically to X units, declining by -16.1% compared with 2021. Overall, imports, however, saw measured growth. The pace of growth appeared the most rapid in 2016 when imports increased by 123% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven imports contracted rapidly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 101%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), China (X units) and Argentina (X units) were the main suppliers of industrial, laboratory or bakery oven imports to Uruguay, with a combined 43% share of total imports. Brazil, Spain and Germany lagged somewhat behind, together comprising a further 9.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of industrial, laboratory or bakery ovens to Uruguay, comprising 19% of total imports. The second position in the ranking was held by China ($X), with a 6.6% share of total imports. It was followed by Brazil, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.4% per year) and Brazil (+2.1% per year).

Import Prices by Country

The average import price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, which is down by -2.4% against the previous year. Overall, the import price saw a pronounced descent. The pace of growth appeared the most rapid in 2018 an increase of 20%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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