Venezuela: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Venezuela

The Venezuelan market for lead-acid accumulators (excluding starter batteries) shrank to $X in 2022, which is down by -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). Overall, consumption continues to indicate a abrupt decrease. Lead-acid accumulators (excluding starter batteries) consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Venezuela

In 2022, after two years of decline, there was significant growth in overseas shipments of lead-acid accumulators (excluding starter batteries), when their volume increased by 6.2% to X units. Overall, exports, however, saw a perceptible curtailment. The growth pace was the most rapid in 2016 with an increase of 827% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) exports reached $X in 2022. Over the period under review, exports, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 1,142% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for lead-acid accumulators (excluding starter batteries) exports from Venezuela, accounting for a 89% share of total exports. Moreover, lead-acid accumulators (excluding starter batteries) exports to Colombia exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Colombia stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-16.2% per year) and France (-45.7% per year).

In value terms, Colombia ($X) remains the key foreign market for lead-acid accumulators (excluding starter batteries) exports from Venezuela, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.0% per year) and France (-53.1% per year).

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, stabilizing at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 53% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 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 the United States ($X per unit), while the average price for exports to France ($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 the United States (+27.7%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Venezuela

Lead-acid accumulators (excluding starter batteries) imports into Venezuela contracted to X units in 2022, which is down by -5.9% compared with 2021. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 164%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) imports contracted to $X in 2022. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2019 with an increase of 100%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest lead-acid accumulators (excluding starter batteries) supplier to Venezuela, with a 76% share of total imports. Moreover, lead-acid accumulators (excluding starter batteries) imports from China exceeded the figures recorded by the second-largest supplier, Peru (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+56.4% per year) and Hong Kong SAR (-13.9% per year).

In value terms, China ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Venezuela, comprising 60% of total imports. The second position in the ranking was held by Panama ($X), with an 8.6% share of total imports. It was followed by Peru, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-8.1% per year) and Peru (+68.1% per year).

Import Prices by Country

The average import price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, shrinking by -1.5% against the previous year. Overall, the import price, however, saw a strong increase. The growth pace was the most rapid in 2014 when the average import price increased by 55% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then reduced slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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