Venezuela: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Venezuela

The Venezuelan market for turbo, rotary and reciporating displacement compressors fell to $X in 2022, shrinking by -9.7% 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 faced a dramatic descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Venezuela

In 2022, the amount of turbo, rotary and reciporating displacement compressors exported from Venezuela rose markedly to X units, growing by 12% compared with the year before. Over the period under review, exports saw a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of 325%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors dropped dramatically to $X in 2022. In general, exports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 278%. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway was relatively modest.

In value terms, Norway ($X) emerged as the key foreign market for turbo, rotary and reciporating displacement compressors exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to Norway was relatively modest.

Export Prices by Country

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, reducing by -42.7% against the previous year. Overall, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 48% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +112.1% per year.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Venezuela

In 2022, after three years of growth, there was significant decline in purchases abroad of turbo, rotary and reciporating displacement compressors, when their volume decreased by -13.6% to X units. In general, imports recorded a sharp curtailment. The growth pace was the most rapid in 2019 with an increase of 65% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of turbo, rotary and reciporating displacement compressors expanded modestly to $X in 2022. Overall, imports recorded a precipitous descent. The most prominent rate of growth was recorded in 2019 when imports increased by 45%. Over the period under review, imports of attained the maximum 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 turbo, rotary and reciporating displacement compressor to Venezuela, with a 90% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by the UK (X units), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-33.6% per year) and the UK (+31.4% per year).

In value terms, China ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to Venezuela, comprising 28% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by the UK, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-40.0% per year) and the UK (+8.7% per year).

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, jumping by 20% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 59%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+36.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :