Colombia: Dc Motor Market 2024

Dc Motor Market Size in Colombia

After two years of growth, the Colombian DC motor market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then dropped in the following year.

Dc Motor Exports

Exports from Colombia

In 2023, approx. X units of DC motors were exported from Colombia; which is down by X% against the previous year. In general, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, DC motor exports totaled $X in 2023. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Argentina (X units) was the main destination for DC motor exports from Colombia, with a X% share of total exports. Moreover, DC motor exports to Argentina exceeded the volume sent to the second major destination, Ecuador (X units), twofold. El Salvador (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Argentina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and El Salvador (X% per year).

In value terms, the United States ($X), Ecuador ($X) and Chile ($X) were the largest markets for DC motor exported from Colombia worldwide, together comprising X% of total exports. Argentina, El Salvador, Guatemala, Mexico, Panama, Venezuela, Peru, India and Costa Rica lagged somewhat behind, together comprising a further X%.

El Salvador, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average DC motor export price stood at $X per unit in 2023, jumping by X% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2022 to 2023, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Argentina ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dc Motor Imports

Imports into Colombia

After two years of growth, purchases abroad of DC motors decreased by X% to X units in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2022, and then shrank slightly in the following year.

In value terms, DC motor imports fell to $X in 2023. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X units), South Korea (X units) and China (X units) were the main suppliers of DC motor imports to Colombia, with a combined X% share of total imports. Thailand, Vietnam, Romania, Mexico, France, the United States and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of DC motors to Colombia, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the United States (X% per year).

Import Prices by Country

In 2023, the average DC motor import price amounted to $X per unit, approximately reflecting the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2023, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform