Venezuela: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Venezuela

In 2022, after two years of decline, there was significant growth in the Venezuelan tow-behind air compressor market, when its value increased by 147% to $X. Overall, consumption, however, showed a precipitous contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tow-Behind Air Compressor Exports

Exports from Venezuela

In 2022, the amount of air compressors mounted on a wheeled chassis for towing exported from Venezuela stood at X units, growing by 13% against 2021 figures. Over the period under review, exports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 44% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tow-behind air compressor exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2020 with an increase of 242%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Aruba (X units), Colombia (X units) and Trinidad and Tobago (X units) were the main destinations of tow-behind air compressor exports from Venezuela, with a combined 44% share of total exports. Moreover, tow-behind air compressor exports in Aruba exceeded the figures recorded by the second-largest exporter, Colombia, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Aruba (with a CAGR of +7.2%), while the other leaders experienced more modest paces of growth.

In value terms, Aruba ($X) remains the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Venezuela, comprising 78% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 19% share of total exports. It was followed by Costa Rica, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Aruba amounted to +88.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+63.9% per year) and Costa Rica (+30.3% per year).

Export Prices by Country

The average tow-behind air compressor export price stood at $X per unit in 2022, picking up by 6.5% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 180% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($X per unit), while the average price for exports to Colombia ($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 Belize (+464.8%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Venezuela

In 2022, purchases abroad of air compressors mounted on a wheeled chassis for towing was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a dramatic downturn. The growth pace was the most rapid in 2019 with an increase of 136% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tow-behind air compressor imports soared to $X in 2022. Over the period under review, imports, however, recorded a precipitous setback. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Switzerland (X units), Argentina (X units) and Mexico (X units) were the main suppliers of tow-behind air compressor imports to Venezuela, with a combined 53% share of total imports. Turkey, China, Singapore, Russia, Ireland, the United States, Panama and the Dominican Republic lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +21.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tow-behind air compressor suppliers to Venezuela were Russia ($X), Switzerland ($X) and Argentina ($X), together accounting for 40% of total imports. Panama, the United States, Singapore, Mexico, Ireland, China, the Dominican Republic and Turkey lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, the Dominican Republic, with a CAGR of +99.5%, 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

In 2022, the average tow-behind air compressor import price amounted to $X per unit, with an increase of 7.3% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 156%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 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 Russia ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+73.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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